TOKYO, Nov 11 (News On Japan) –
Major izakaya chain operator Watami has acquired Subway Japan in a large-scale acquisition it views as a ‘second founding,’ aiming to ascertain a foothold within the fast-food market.
Watami Chairman and CEO Miki Watanabe (65): “I’m tackling this with the same excitement as my first founding—it’s really fun. I want to spark a new boom.”
Speaking with a smile, Watami’s CEO, 65-year-old Miki Watanabe, has ventured into quick meals for the primary time.
Watanabe (October 25): “I want the ‘Watami of Izakayas’ to be known instead as the ‘Watami of Subway.'”
Watami has totally acquired Subway Japan, taking a serious step into the fast-food enterprise with the aim of constructing a series that may rival McDonald’s.
With a daring plan to broaden from the present 178 places to three,000 over the following 20 years, Watami has set an formidable goal.
On October seventh, Watanabe was seen in entrance of Kawasaki Station in Kanagawa Prefecture.
During a 20-minute website inspection, he walked round 4 candidate areas, assessing foot visitors and the presence of close by eateries. After evaluating notes with knowledge, he gave the go-ahead for a number of new places.
Watanabe: “(Q: What are you looking for in the area?) The main thing is the vibe—how lively people are. Some people just walk by without shopping, and understanding their consumer behavior is crucial.”
Visionary CEO Prepares ‘Ultra-C’ Announcement
Even whereas touring, Watanabe retains a pocket book to file his concepts—a behavior because the firm’s founding.
Watanabe: “(Notes say) it’s about properties, numbers, right? Store count for next year.”
His notes embrace targets for brand new retailer openings: 25 places this fiscal 12 months, 50 subsequent 12 months, and 100 in three years.
He additionally displays stock costs, change charges, and financial news on his pill.
Watanabe: “Someone’s saying ‘reaching 3,000 stores like McDonald’s will be tough.’ Well, we’re preparing an ‘Ultra-C’ that will surprise everyone.”
Subway Acquisition Marks ‘Second Founding’
Watanabe’s subsequent cease was a Subway location, the place he assessed the style from a buyer’s perspective.
He requested “extra” vegetable toppings on his order.
Watanabe: “(Q: You ordered extra vegetables?) I just love vegetables. Absolutely love them.”
With Watami’s agricultural arm, “Watami Farm,” already producing greens at seven places throughout Japan, Watanabe expects synergy with the Subway enterprise.
After putting his order, Watanabe moved to the tasting stage, his earlier smile changed by a essential eye.
Watanabe: “I just wrote that for morning items, you can’t just offer cheap drinks—you need to create proper set menus.”
Watanabe is meticulous in his directives, viewing the Subway acquisition as a “second founding.”
Watanabe: “Compared to pre-COVID, the izakaya (pub) business hasn’t regained 20% to 25% of its customers. Recovery is happening in takeout, delivery, and fast food. (For Watami overall) we’re aiming for a trillion-yen group in 24 years. I see Subway as the central business supporting our 300-billion-yen domestic food service target.”
Source: ANN