Akash Srivastava has been appointed as Chief Development Officer by Devyani International, a pivotal role as the company navigates its aggressive expansion and brand diversification strategies. With over 15 years of experience in real estate and business development across prominent brands like Starbucks, KFC, and Raymond, Srivastava’s expertise is expected to play a crucial role in Devyani’s next phase of growth.
Educational Background and Early Career
Srivastava holds a B.Sc. in Hospitality & Hotel Administration from IHM Lucknow and an MBA in Retail & Merchandising Management from BIMTECH. His career commenced in the hospitality industry, where he gained foundational experience in operations and customer service.
Professional Trajectory
His initial roles included positions at KFC India, where he managed real estate and expansion efforts, and at Starbucks India, where he contributed to market research, store strategy, and layout planning. Srivastava’s tenure at Chaayos and Jubilant FoodWorks further honed his skills in business development, real estate strategy, and multi-brand expansion.
At Raymond Limited, Srivastava led business development and real estate expansion across various brands, including The Raymond Shop and Park Avenue. This experience broadened his understanding of retail dynamics beyond the food and beverage sector.
Devyani International’s Growth and Challenges
Devyani International has experienced significant growth, reporting a 39.2% year-on-year increase in revenue for FY25, totaling ₹4,951 crore. The company added 257 net new stores during the fiscal year, bringing its total to 2,039 outlets across India, Thailand, Nigeria, and Nepal. However, this expansion has been accompanied by challenges, including increased operating expenses and pressure on profit margins.
The company’s core brands—KFC, Pizza Hut, and Costa Coffee—have shown mixed performance. While Costa Coffee demonstrated strong momentum with a 30.8% revenue growth, KFC and Pizza Hut faced declines in same-store sales, indicating potential areas for operational improvement.
Strategic Focus Areas for Srivastava
In his new role, Srivastava is expected to focus on several key areas:
- Real Estate Optimization: Ensuring cost-effective lease agreements and efficient store layouts to improve profitability.
- Format Innovation: Developing smaller, delivery-focused store formats to adapt to changing consumer behaviors.
- Expansion into Tier II and III Cities: Identifying and capitalizing on growth opportunities in smaller cities to drive future growth.
- Brand Integration: Streamlining operations and aligning development strategies across Devyani’s diverse brand portfolio.
Akash Srivastava’s appointment as Chief Development Officer at Devyani International marks a strategic move to strengthen the company’s expansion efforts and operational efficiency. His extensive experience in real estate and business development positions him to address the challenges associated with rapid growth and to contribute to Devyani’s continued success in the competitive QSR industry.
