US Domino's Pizza Finally Withdraws from Italy, the 'Home of Pizza'
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[Asia Economy New York=Special Correspondent Joselgina] The large American pizza chain Domino's Pizza has withdrawn from Italy, the "home of pizza," after 7 years of operation.
Bloomberg reported on the 9th (local time) that Domino's Pizza has closed all 29 of its stores in Italy and exited the market. Founded in 1960, Domino's Pizza is the world's number one pizza brand, operating directly managed and franchised stores in 85 countries worldwide.
It entered Italy, known as the birthplace of pizza, in October 2015. The strategy was to differentiate itself with massive capital, fast delivery service, and American-style toppings.
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However, after the COVID-19 pandemic, local Italian pizzerias also expanded their delivery services, which is analyzed to have weakened Domino's Pizza's competitiveness. As of the end of 2020, Domino's Pizza Italy branch's debt amounted to 10.6 million euros (approximately 14.2 billion KRW).
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