Latest news with #PanoChristou
Scottish Sun
3 days ago
- Business
- Scottish Sun
Owner of Pret A Manger plans stock market flotation & may sell stake in business
Pret opened its first shop in London in 1986 and now the chain employs 12,500 staff in more than 700 locations PRET STAKE SANDWICH Owner of Pret A Manger plans stock market flotation & may sell stake in business Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) THE owner of Pret A Manger plans a stock market flotation — and could consider selling a stake in the business first. Luxembourg-based firm Jab Holding bought the sandwich chain for £1.5billion in 2018. Sign up for Scottish Sun newsletter Sign up 1 The owner of Pret A Manger plans a stock market flotation — and could consider selling a stake in the business first Credit: Getty But the pandemic saw it post a £343million loss in 2020 as its key customers — office workers and commuters — were kept at home. It then launched cut-priced food and coffee subscription services to lure them back when they returned to the office, which helped sales jump by a fifth in 2023. Pret opened its first shop in London in 1986 and the chain employs 12,500 staff in more than 700 locations across 21 countries. JAB, which also owns Krispy Kreme doughnuts and Keurig Dr Pepper, has ambitions in the insurance and asset management industry and wants to reduce its reliance on the consumer sector. Read More on business LAST CALL Major bar chain to shut ALL 250 venues across the UK for 24 hours next week It suggested it could consider selling a stake in Pret ahead of a potential listing. JAB said: 'As we move closer to a potential IPO, we may evaluate bringing on a pre-IPO investor.' It is the first time the group has publicly confirmed IPO plans for Pret. Ahead of the potential listing, it appointed former Restaurant Brands International chief executive José Cil as chair of Pret last month. Pret's chief executive since 2019 is Pano Christou, who started as an assistant manager in a central London outlet at 22. The minicab driver's son, 45, grew up in Tooting, South London, and now earns more than £400,000 a year. Android users warned as major brand shuts down phone business BANK MIS-APP THOUSANDS of customers were unable to log in to NatWest's mobile app yesterday. More than 3,000 outages were reported through services-monitoring site Downdetector. The bank blamed the problem on an update it made the day before and said it was 'working to fix it as quickly as possible'. PAD PRICE DIP THE average UK house price fell by around £1,150 or 0.4 per cent last month, stats from Halifax show. But property values have increased by more than £7,000 on average over the past year. Prices climbed 2.5 per cent in the 12 months to May, but that was a fall from April's annual increase of 3.2 per cent.
The Sun
3 days ago
- Business
- The Sun
Owner of Pret A Manger plans stock market flotation & may sell stake in business
THE owner of Pret A Manger plans a stock market flotation — and could consider selling a stake in the business first. Luxembourg-based firm Jab Holding bought the sandwich chain for £1.5billion in 2018. But the pandemic saw it post a £343million loss in 2020 as its key customers — office workers and commuters — were kept at home. It then launched cut-priced food and coffee subscription services to lure them back when they returned to the office, which helped sales jump by a fifth in 2023. Pret opened its first shop in London in 1986 and the chain employs 12,500 staff in more than 700 locations across 21 countries. JAB, which also owns Krispy Kreme doughnuts and Keurig Dr Pepper, has ambitions in the insurance and asset management industry and wants to reduce its reliance on the consumer sector. It suggested it could consider selling a stake in Pret ahead of a potential listing. JAB said: 'As we move closer to a potential IPO, we may evaluate bringing on a pre-IPO investor.' It is the first time the group has publicly confirmed IPO plans for Pret. Ahead of the potential listing, it appointed former Restaurant Brands International chief executive José Cil as chair of Pret last month. Pret's chief executive since 2019 is Pano Christou, who started as an assistant manager in a central London outlet at 22. The minicab driver's son, 45, grew up in Tooting, South London, and now earns more than £400,000 a year. BANK MIS-APP THOUSANDS of customers were unable to log in to NatWest's mobile app yesterday. More than 3,000 outages were reported through services-monitoring site Downdetector. The bank blamed the problem on an update it made the day before and said it was 'working to fix it as quickly as possible'. PAD PRICE DIP THE average UK house price fell by around £1,150 or 0.4 per cent last month, stats from Halifax show. But property values have increased by more than £7,000 on average over the past year. Prices climbed 2.5 per cent in the 12 months to May, but that was a fall from April's annual increase of 3.2 per cent.
Yahoo
28-03-2025
- Business
- Yahoo
Pret A Manger inaugurates dine-in location in Pune, India
Food and coffee shop chain Pret A Manger has launched a dine-in location in Pune, in the Indian state of Maharashtra. The 989ft² full-service store at Phoenix Mall of the Millennium offers Pret's signature hand-crafted food as a dine-in experience. Pret A Manger CEO Pano Christou stated: "India has re-imagined Pret in a way we've never seen before. The country's rich tradition of dining together has inspired us to introduce our first-ever full-service concept - one that brings people together over fresh, high-quality food, served at their table. 'We are committed to bringing our signature Pret experience to more customers, blending global flavours with local tastes in a way that feels both familiar and new." Pret A Manger's expansion in India has been swift, with the brand already establishing a presence in Mumbai, Bengaluru and Delhi-NCR. Founded in London in 1986, Pret A Manger has grown to almost 700 locations worldwide, with outlets in Belgium, Dubai, France, Germany, Hong Kong, Singapore, Switzerland, the UK and the US. In June 2022, Pret A Manger collaborated with Reliance Brands Limited, a subsidiary of Reliance Retail Ventures Limited, to launch and build the Pret brand in India. The first store under this partnership opened in Mumbai in April 2023. Supporting its global expansion, Pret A Manger began a collaboration with YOOBIC, a provider of digital workplace solutions, in September 2024. The partnership was aimed at enhancing support for Pret's frontline teams and streamlining operations as the brand continues to grow internationally. "Pret A Manger inaugurates dine-in location in Pune, India" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
