As part of the collaboration with Spider-Man: Across the Spider-Verse, Burger King is celebrated by taking over a friendly neighborhood restaurant in Queens, New York. The movie releases on 2 June 2023 worldwide and the decor at this outlet would be available to see until 18 June.
Founded in 1954, Burger King is the second largest fast food hamburger chain in the world, the original Home of the Whopper. The company operates over 18,000 restaurants in 100 countries.
For FY 22-23, the company reported revenues of Rs. 1,437 Cr, a growth of 52.6% over the previous year. Same Store Sales Growth (SSSG) was a whopping 23.1%, according to the company’s annual report. Gross profit, however remained flat at 66.4% as against 65.8% in the previous year. Restaurant EBIDTA grew by 16.2% to 248 Cr from 152 Cr in the previous year.
In India, the company has 391 outlets where it is represented through Restaurant Brands Asia. Everstone Capital runs RBA which operates BK Indonesia and Popeyes in India. The company entered India in 2013 with its first store in Mumbai. The company said 88 restaurants (net) were opened in FY 22-23 and 38 were in the pipeline while 15 are under fit-outs. The company also opened 240 BK Cafe formats, taking the total count to 275 during the FY 22-23. The BK mobile App has added 6.2 mn installations, 102% growth over the previous year.
The company aims to grow to 700 restaurants by 2027 with a gross profit of 67%. There has been specuation that Everstone wishes to sell RBA completely and exit the food business. Potential suitors include Jubilant Foodworks (runs Dominos in India), Devyani International (runs Pizza Hut, Costa Coffee, etc.) as well as PE Funds.
