UK sandwich chain Pret A Manger to launch in India

Image source, Reuters

A firm owned by Asia's richest person has struck a deal to open Pret A Manger outlets in India.

The chain will be managed by a unit of Reliance Industries.

Reliance Brands, which also owns India's biggest retail chain, is entering the food and drinks industry.

The first outlet will be in Mumbai.

The managing director of Reliance Brands said that their partnership with Pret was based on the brand's strong growth potential.

Pret A Manger's chief executive said they were looking forward to working with them.

Pret A Manger was founded in London in 1983 and opened its first shop the following year.

The brand was bought by two college friends, Sinclair and Julian, after the company went out of business.

The brand has over 500 stores in nine markets including the UK, US, Europe, and Asia.

Reliance signed a franchise agreement with 7-Eleven.

The company is India's largest bricks and mortar retailer.

According to Forbes magazine, Mr. Ambani has a personal fortune of around 95 billion dollars.

Reliance industries was founded by the late father of the 65-year-old.

One of India's largest conglomerates has businesses that include oil and gas, telecoms, and retail.

The chairman is Mr. Ambani. A majority of the company is held by the Ambani family.

The assets in the UK are worth tens of millions of dollars.

Reliance Brands, a company owned by Mr. Ambani, bought the toy retailer Hamleys.

Reliance bought the historic British country club for over $60 million.