Domino’s Pizza today laid out a multi-year strategic plan to drive growth and achieve its medium-term ambition of reaching as much as £1.9 billion in sales.
The chain intends to accelerate the growth of its delivery business by opening an additional 200 stores in the UK, according to CEO Dominic Paul.
He said the firm, which currently operates 1,200 sites, would seek to turbo-charge its collection business in an effort to double market share.
Mr Paul added that the chain would endeavour to “amplify our product quality and value” as it sets about enhancing its digital, technological and brand marketing capabilities for franchisees.
He said: “In my first year with Domino’s, it has been clear to me that we have a great platform to build from – a uniquely powerful brand, high digital participation and outstanding people and franchisees.
“Our new strategy will enable us to build upon our strengths in both delivery and collection and provide our customers even better quality and value, which will drive continued strong performance.
“We have maintained an open dialogue with our franchisees throughout the development of this plan and, while we do not have an agreement yet, we have made an attractive offer to them which we believe will deliver powerful benefits to both them and the group.”
Mr Paul said that as the economy begins to reopen, Domino’s has invested in its capabilities to enable it to capitalise on the opportunities ahead.
“I am confident that we can achieve our vision of being the UK and Ireland’s favourite food delivery and collection brand, and deliver great results for our colleagues, our customers, our shareholders and our franchisees,” he added.
Domino’s has been one of the major beneficiaries of the shift to home dining and takeaway in the wake of lockdown, with UK and Ireland sales up 11% to £1.3 billion in the last year.
The company said it has continued to innovate across the business, launching new products such as its vegan pizza and investing in technology through a new app, in the supply chain and in marketing to further strengthen the brand.