Thorough bread

摘要

The Pret A Manger (Pret) vision has changed dramatically since the first store opened in 1986. It started as a delicatessen-style operation, set up by Julian Metcalfe and Sinclair Beecham. At the time there weren't any other options available on the high street. You had a mixture of Italian cafes which were either good or very bad, and obviously the British 'greasy spoon'. Sandwiches were then mostly bought in supermarkets and they were very minimal. That's why Pret was really new. McDonald's has a 33 per cent stake in the company. It's a non-controlling stake, and we used the investment to partner up with it for our expansion in New York and Hong Kong. So McDonald's doesn't have any real say in the company. It was looking to invest in partner brands that fitted the changes in the market for fast food, and we fitted that brief nicely. We were looking for expansion and the expertise and finance to take the brand overseas.