Vegan fast-food chain, Odd Burger has signed a non-binding letter of intent (LoI) with development group Earthlings Canada to open 150 restaurants in India and Singapore over a period of 10 years.
The first location is set to be in Mumbai which is slated to open by end-2023. Odd Burger Co-Founder and CEO James McInnes said, “The growth opportunity in the Indian market is significant. It is estimated that there are 574 million people that follow a meat-free diet in India, with 126 million of those adhering to a vegan diet. The local connections and know-how gained through our partnership with the developer group will help us service this large and growing market.”
A definitive agreement is expected on or before 31 May 2023. Earthlings Canada could be given the master franchise rights in India and Singapore. It also might have the right of first refusal to purchase additional territories in other Southeast Asian countries, including Australia and New Zealand.
