Byline: Khalil Ahmed
PAGE: Tell me something about yourself and your organization, please
Rafiq Rangoonwala: I am associated with food business for last 40 years. I started my career with KFC in Houston, worked in Caribbean looking after English speaking islands, later on was transferred to Middle East as Market Director of KFC, MENA Region. I moved to Pakistan at the end of 1999 as Chief Executive Officer (CEO) of KFC till 2014. Also managed brands, like Pizza Hut, Hardees, Burger King, Harry Ramsden, Pizza Express, TGI Fridays, etc.
PAGE: What is your take about the ready-to-cook food and fast food sector in Pakistan?
Rafiq Rangoonwala: Ready to cook and ready to eat food is a growing market in Pakistan with the change in eating habits of dual and multiple income families for convenience. Frozen ready to cook food segment has seen significant growth witnessing new entrants in past few years. It will grow double-digit every year for next few years. Fast food is also growing but maturing at the same time. With the population growth and huge percentage of youth, both these segments will see significant growth, as they have penetrated mainly urban areas. With per capita income increasing, deeper penetration of internet is exposing the youth to various cultures so their appetite to try new cuisine along with desire for convenience will create huge potential and enlarge the market.
PAGE: Could you tell us about the input cost of the fast food sector and the bottom line in general?
Rafiq Rangoonwala: The input cost varies from brand to brand and the menu offerings. The input cost of local brands would be much lower than the international ones as their cost would be much on the lower...