"We’ll continue expanding at our current pace of 130–150 outlets per year.", Ankit Patel, CEO, The Belgian Waffle Co

While global QSR giants have crowded the savoury segment, The Belgian Waffle Co. has carved a niche in Western-style desserts, building scale without diluting its core product. In a market where palates shift every few hundred kilometres, the brand has managed to maintain a consistent menu nationwide, betting on uniformity, quality, and an everyday celebration positioning.

In a competitive Rs 50,000 crore QSR space, growth isn’t just about adding outlets—it’s about keeping footfalls, engagement, and brand recall high. The Belgian Waffle Co’s marketing playbook is digital-first, yet rooted in offline experiences, such as National Waffle Day, which this year drew over 7 lakh customers in a single day.

We spoke to Ankit Patel, CEO, and Vrushali Parab, Head of Marketing, The Belgian Waffle Co, to understand how the company is balancing expansion with consistency, what’s driving dessert consumption beyond meal times, and the next levers of growth. (Edited excerpts)

How has the business performed so far, and have there been any notable challenges or breakthroughs you would like to highlight?

Ankit:
Honestly, FY25 has been consistent with our historical trajectory. We’ve continued to grow at a steady pace of 30–40% year-on-year, which we’ve maintained over the past several years. This sustained growth is the result of a mix of market expansion and operational consistency.

We’ve also entered new cities this year, setting up company-operated stores in addition to our existing franchise network. On the product side, we’re piloting a new range of categories, including cold and hot beverages, to complement our core waffle offering. These initiatives are designed to broaden our appeal and capture more consumer occasions.

Overall, it’s been a good year — touchwood — with steady growth, new experiments in both markets and products, and no major setbacks.

This year’s National Waffle Day (16 July) coincided with your 10th anniversary. How did you approach the campaign, and what kind of response did you see?

Vrushali:
This National Waffle Day (NWD) was particularly special for us because it was part of our 10-year celebration. We wanted to mark the occasion in a way that would be memorable for consumers and meaningful for the brand.

One of the biggest changes we made this year was redefining how we celebrate NWD. Until now, it was tied to a fixed calendar date. But starting this year, we’ve moved it to the third Wednesday of July, similar to how Mother’s Day or Father’s Day follow a recurring weekday pattern. This ensures the celebration remains consistent and easier to plan for, while creating a sense of ritual for our customers.

We were initially cautious about whether our core audience would adapt to the date shift, but our loyal fan base embraced it wholeheartedly. The theme this year was “What’s Your Drill?” — inspired by the insight that many customers have their rituals for celebrating NWD. We built the entire campaign around this idea, and the response was overwhelming, both in terms of consumer love and sales. While the numbers were strong, for us, the real win was the enthusiasm and emotional engagement from our customers.

The QSR and dessert market in India is becoming increasingly competitive, with both global giants and emerging local brands vying for attention. What gives The Belgian Waffle Co its unique edge, and how are you working to sustain that advantage?

Ankit:
If you look at global QSR players, most of them are focused on the savoury segment. In desserts — and specifically waffles — we don’t see any global player operating at scale in India. We were the first to create this category here, and we’ve continued to grow it ever since.

Today, we have around 680 outlets across 220+ cities, which is unmatched by any other player in the waffle space. The next largest competitor doesn’t even cross 100 outlets. This scale gives us significant visibility, operational efficiencies, and brand recall.

Our product differentiation is another big advantage — consistent quality, made-to-order freshness, and a wide range of flavours. Add to that our loyalty database of nearly 5 million customers, and we have a direct channel for engagement that few dessert brands can match.

Events like National Waffle Day and other thematic campaigns deepen that connection, keeping the brand relevant and loved year after year. Our competitive edge lies in the combination of first-mover advantage, scale, product quality, and consumer engagement, and we work to strengthen all four continuously.

With your presence in over 220 cities, how do you adapt store formats and menu offerings to cater to diverse regional tastes and footfall patterns?

Ankit:
Our formats are standardised for scalability, but we deploy them based on location type. Broadly, we operate in three formats:

1. Kiosks in malls
   
   

2. Takeaway outlets in high-footfall areas where space is limited
   
   

3. High street café-style stores, which make up the majority of our network
   
   

Most of our stores fall within the 200–400 sq. ft. range.

While India’s food palate varies from region to region, we’ve found that the love for waffles is remarkably consistent nationwide. Because of this, we maintain a uniform menu across all locations — no regional customisation — and our pricing is standard whether you’re in Mumbai or Guwahati. This consistency has worked well for us in building a strong, recognisable brand.

Of your different store formats, which ones tend to deliver the strongest revenue, and what drives that performance?

Ankit:
Productivity is more about the city and locality than the format itself. For instance, a kiosk in a high-traffic Mumbai mall can outperform a café in a smaller city simply because of the higher population density and footfall.

So, while all three formats can be profitable, their success is tied closely to location dynamics — the number of mouths to feed, purchasing power, and nearby competition, rather than the design of the store.

What are your current marketing priorities, and what strategies are you using to attract, engage, and retain customers in such a competitive space?

Vrushali:
Being the category creator and leader gives us an inherent advantage in terms of consumer curiosity and brand perception. Our strategy is digital-first, because our core audience — Gen Z and millennials — lives online, especially on Instagram.

However, our biggest challenge (and opportunity) is driving offline footfall from online engagement. Campaigns like National Waffle Day and Children’s Day are designed specifically to bridge this gap. For example, NWD 2024 saw 7,00,000+ customers visit us in a single day.

We position ourselves as a brand for everyday celebrations. You don’t need a big occasion like an anniversary — a small win at work or a bad day at school is reason enough to treat yourself. This positioning resonates strongly, particularly with younger audiences, and supports our goal of becoming part of consumers’ daily lives.

In smaller towns where digital penetration might be lower, how do you ensure consistent brand communication and consumer engagement?

Vrushali:
Interestingly, digital media works well even in Tier 2 and Tier 3 cities — people are online and consuming content. But our store presence itself is our biggest awareness driver in these markets. A well-placed outlet can become a landmark in the area.

In metros, online ordering through aggregators is dominant for convenience reasons. In smaller towns, while online delivery is growing, in-store visits remain strong because the experience of eating a freshly made waffle can’t be replicated via delivery. Many customers use both channels — they might first try our products in-store, then order online for convenience.

How do you structure your marketing budget across digital, in-store activations, influencer partnerships, and other channels? Has this evolved with changes in consumer behaviour?

Vrushali:
Digital gets the largest share of our budget, covering social media, performance marketing, and content creation. The second biggest investment is in-store communication — packaging, standees, and creative inserts. Our packaging is a major asset, as it reaches every single customer, both online and offline.

We also use outdoor advertising strategically, focusing on specific store launches or major campaigns. Influencer partnerships are chosen for quality and resonance, not just reach. For example, an influencer-led NWD campaign last year reached 5 million people in 24 hours organically — results that came from a perfect fit between the influencer’s audience and our brand personality.

Beyond waffles, you’ve been piloting new categories like cold and hot beverages. How do these fit into your growth strategy, and what’s next for The Belgian Waffle Co in terms of expansion and brand building?

Ankit:
Our mission is to make waffles as synonymous with dessert in India as ice cream is — and we still have a long way to go. The core waffle business itself has immense headroom for growth, both in terms of awareness and consumption.

At the same time, beverages are a strategic extension. They complement our waffles, increase average order value, and help us tap into different dayparts. Since dessert consumption peaks in the evening, beverages can boost sales earlier in the day. We’re piloting these categories in select outlets to measure impact before scaling.

Geographically, we’ll continue expanding at our current pace of 130–150 outlets per year within India, with deeper penetration in Tier 2 and Tier 3 cities. Long-term, we also have ambitions to take our Indianised waffle concept global.

Additionally, we’ve started building an FMCG arm, currently in its early stages, and we’re open to tuck-in acquisitions where there’s a strategic fit. All of this will be pursued in a measured way, focusing on a clear priority matrix to ensure sustainable growth over the next 5–10 years.