Innovated in 1960 and led by CEO Russell Weiner, Domino’s Pizza, Inc., trading as Domino’s, is an American transnational pizza eatery chain. The company is Delaware-housed and headquartered at the Domino’s Granges Office Park in Ann Arbor, Michigan.
Domino’s had approximately 4,000 stores as of 2018, with 4,649 in the United States, 1,500 in India, and 2,249 in the United Kingdom. It has stores in over 83 countries and 701 metropolises worldwide. In 2018, Domino’s Pizza was inducted into the Queensland Business Leaders Hall of Fame.
Jubilant FoodWorks Limited is an Indian food service company based in Noida, Uttar Pradesh, which holds the master ballot for Domino’s Pizza in India,Nepal, Sri Lanka, and Bangladesh.
The company also operates two homegrown eatery brands called Ekdum! and Hong’s Kitchen. Jubilant FoodWorks is a part of the Jubilant Bhartia Group, possessed by Shyam Sunder Bhartia(husband of Shobhana Bhartia) and Hari Bhartia.
On the recommendation of a friend who possessed other foreign pizza licences, Shaam Sunder Bhartia and Hari Bhartia of the Jubilant Bhartia Group entered into a master ballot cooperation with Domino’s Pizza and began operations in 1996.
The company started its first Domino’s Pizza outlet in New Delhi in 1996. In 2009, the company changed its name to Jubilant FoodWorks Ltd. It has been headed by Ajay Kaul since 2005. Pratik Rashmikant Pota became the CEO in April 2017. Pota blazoned his abdication in March 2022 and will step down in June.
On February 24, 2011, Jubilant FoodWorks inked a master ballot agreement with American coffeehouse chain Dunkin’ Donuts to operate the brand in India.
In April 2012, Jubilant FoodWorks opened India’s first Dunkin’ Donuts location in ConnaughtPlace, New Delhi.
1960s – 2010s
In 1960, Tom Monaghan and his son, James, took over the operation of DomiNick’s, a position in a small pizza eatery chain that had been possessed by Dominick DeVarti, at 507 Cross Street( now 301 West Cross Street) in Ypsilanti, Michigan, near Eastern Michigan University.
The deal was secured by a$ 500 down payment, and the sisters agreed to spend $ 900 to pay for the store.
The sisters planned to divide the work hours unevenly, but James didn’t want to quit his job as a full-time mailman to keep up with the demands of the new business.
By 1965, Tom Monaghan had bought two fresh pizzerias; he now had an average of three locales in the same county. Monaghan wanted the stores to have the same name, but the original proprietor wanted him to use the DomiNick name. One day, a hand, Jim Kennedy, returned from a pizza delivery and suggested the name “Domino’s”. Incontinently, Monaghan insisted on loving the idea and officially renamed the business Domino’s Pizza, Inc. in 1965.
The company totem first had three blotches, representing the three stores, in 1965. Monaghan planned to add a new fleck with the addition of every new store, but this idea snappily faded, as Domino’s educated rapid-fire growth.
In 1967, Domino’s Pizza opened its first store, and by 1978, the company had expanded to 200 stores. In 1975, Domino’s faced an action by Amstar Corporation, the maker of Domino Sugar, professing trademark violation and illegal competition. On May 2, 1980, the Fifth Circuit Court of Appeals in New Orleans set up shop in favor of Domino’s Pizza.
After 38 years in charge, Domino’s author Tom Monaghan announced his resignation in 1998, selling 93 percent of the company to Bain Capital, Inc. for approximately $1 billion and refusing to be involved in day-to-day operations.
Some time later, the company named Dave Brandon as its CEO.
2014 – Expansion to 6,000 international stores
2016 – Opened its 1,000th store in India
The tricky period
The story goes back to a time when the brand image of Domino’s was completely lost and shares were sold at the lowest price, six dollars. Retail sales fell sharply, and Domino’s was last in a consumer preference survey.
It didn’t take an expert to predict that Domino’s would fail miserably.
The company’s CEO at the time, Patrick Doyle, decided to look into the situation, and soon they noticed that several blog posts were reporting how bad their pizzas were.
Some said the pizza crust tasted like cardboard, while others said the sauce tasted like ketchup. Such remarks were all over social media.
Looking at Domino’s public opinion, the situation seemed delicate.
The company’s stock price was already down. The US economy was still recovering from the 2008 subprime crisis, and Domino’s seemed to be walking on thin ice.
What would you do if you had a company like this?
Most of us consider negative feedback as the root cause and would try to turn it into positive reviews more easily.
We want to get a great PR firm to hide bad reviews, use influencers to create good publicity, or even give away free pizzas to get positive reviews.
In the background, we would make some changes in management and, at worst, ignore everything, wondering what a blog could do for a billion-dollar company.
Turning the tables
It is a big and dangerous decision to turn the company around, but Domino’s chose a completely different path and chose the most lethal weapon of advertising, which no one dares to use—especially if the company fails.
And that weapon was “brutal honesty”. The CEO of the company, Patrick Doyle, took full responsibility for the incident and publicly admitted that they did not do a good job.
He invited disappointed customers to taste the pizzas and give them honest feedback. It was possibly the hardest day on the job because everyone who came in threw harsh words at
and told them how pathetic their pizzas were. The Domino team patiently listened to them and diligently took notes.
Then came adventure. For the next eighteen months, all Domino’s cooks worked day and night without days off.
They tried every possible combination of ingredients to make the best possible pizza and changed their pizza from top to bottom.
During this testing, Domino’s realised that in the race to offer 30-minute delivery times to customers, the company is putting its own supply chain at risk.
Most of their ingredients were frozen, canned, and even pre-made to reduce costs and facilitate assembly with super-fast delivery times.
So the chefs and management came together in an extraordinary move and changed the entire supply chain.
They completely renovated processing warehouses, storage, and transportation in a chain of more than four thousand two hundred stores spread over 9.93 million square kilometers—three times the size of India.
To everyone’s surprise, Domino was able to complete this ultimate task in just eighteen months.
But Domino’s didn’t stop there; they launched the “Oh Yeah We Did It” ad campaign, documenting their entire journey from making terrible pizzas to making America’s best pizzas.
Domino’s also made a video where Domino’s chefs personally go to their harshest critics and surprise them with their new pizza, incorporating all their suggestions.
The video had a significant impact because all those critics were shocked that the Domino’s chef had to deliver the pizzas himself. Critics tasted the pizzas, loved them, and smiled. Most of them had no idea that such a large company would take their feedback so seriously.
In addition to this, Domino’s has also added a special section to the website that features Facebook posts and tweets from customers expressing their delight after trying their new pizzas.
On January 1, 2021, Jubilant FoodWorks paid 92 crore (US $12 million) for a 10.76 percent stake in BarbequeNation Hospitality Limited.In October 2021, the company paid 24.75 crore (US $3.1 million) for a 35% stake in Mumbai-based food tech startup Thrive.
On February 19, 2021, the company announced that it would acquire the complete power of Netherlands-based Fides Food Systems Coöperatief UA for £24.80 million through its attachment to Jubilant Foodworks Netherlands BV. The accession marks Jubilant FoodWorks’ entry into the Eurasian request. Fides held has a 32.81 stake in DP Eurasia NV, which is the master franchisee for Dominos Pizza in Turkey, Russia, Azerbaijan, and Georgia. Jubilant Foodworks announced that it had acquired a fresh 6.98 stake in DP Eurasia( or ordinary shares at a price of 95 pence per share), taking its total stake in the company to 39.79. Jubilant blazoned the completion of the junction of Fides Food Systems Coeratief UA with Jubilant Foodworks Netherlands BV on March 2,2022, and stated that it now possessed 41.32 percent of DP Eurasia NV.
(2020) Profit: 49.13 billion USD
(2020) Revenue: 411.7 billion USD
Total assets (2020): USD 156.7 crores
On December 9, 1960, in Ypsilanti, Michigan, USA, the company was founded.
DPZ (NYSE) $314.52 -9.73 (-3.00%) stock price
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Subsidiaries: Domino’s Pizza Franchising LLC
Founders: Tom Monaghan, James Monaghan
The present scenario
Domino’s has more than 17,000 stores in more than 90 countries and retail sales of $1.3 billion. Domino’s menu has a wide variety of items, making it one of the best pizza delivery services in the world. More than half of Domino’s sales now come from outside the United States. More than 9% of Domino’s stores in the United States are franchised. In India, Domino’s is the market leader in the pizza segment.
Tom Monaghan knew nothing about business but still managed to build an empire.
Starting a new business from scratch does not necessarily require us to have expertise in the field. Therefore, the most important thing is to keep working and getting good results. Pizza Hut has used technology to connect with customers in innovative ways that have helped their business succeed.