Domino’s Pizza’s China master franchisee, DPC Dash Ltd, is scaling up at pace, turning aggressive store expansion into a central growth engine even as consumer demand remains mixed across the country.
The company’s latest 2025 results show a business leaning heavily on network growth to drive revenue, market share and long-term profitability in one of the world’s most competitive quick service restaurant markets.
In 2025, DPC Dash added 307 net new stores, taking its total footprint to 1,315 outlets across 60 cities, while entering 21 new cities during the year. This expansion marks a sharp acceleration from the previous year and reflects a deliberate shift toward wider geographic penetration, particularly in underpenetrated lower tier markets where Western QSR brands are still building presence. The company’s strategy, described as “go broader, go deeper,” focuses on saturating existing cities while simultaneously unlocking new ones, creating both density and reach.
The expansion is already translating into strong financial performance. Revenue rose 24.8 percent year-on-year to RMB 5.38 billion, marking the fifth consecutive year of double digit growth, while net profit surged over 150 percent as scale efficiencies began to kick in. The company has also strengthened its customer base, with loyalty membership climbing to 35.6 million users, supported by digital ordering, targeted promotions and repeat engagement strategies.
What stands out is the performance of new stores, particularly in smaller cities. Several newly launched outlets have delivered exceptional early sales, including opening day revenues close to RMB 700,000 in some markets, underlining strong consumer curiosity and demand for the brand outside top tier urban centres. This reinforces the company’s pivot toward non tier one cities, where pizza remains a relatively underdeveloped category but is seeing rising adoption.
The momentum has carried into 2026. The company opened 62 stores on the first day of the year and continued with a rapid rollout through January, including around 90 stores within the first few weeks, pushing its network past 1,400 locations. Management has outlined plans to open around 350 additional stores in 2026, with a significant portion of the pipeline already secured through signed agreements.
This growth comes despite some pressure on same store sales, which declined slightly over the full year, reflecting cautious consumer spending and the dilutive impact of rapid expansion. However, performance in tier one cities remains resilient, and the company continues to prioritise long term scale over short term like for like growth.
Industry tailwinds are also supporting the strategy. China’s pizza market has crossed RMB 50 billion in size, with increasing penetration driven by delivery led consumption and expanding demand in smaller cities. Within this landscape, Domino’s China has emerged as one of the fastest growing players, now ranking among the largest international markets in the brand’s global system by store count.
