Time Out Market Delhi Franchise Agreement Signed
Time Out Group plc has signed its first global franchise agreement with Quint Digital Limited for Time Out Market Delhi, expected to open in the second half of 2026. This capital-light expansion strategy will generate revenue through franchise fees and ongoing payments without requiring capital contribution from Time Out for the Market's development. The Delhi Market will span approximately 24,500 sq ft at 5 Worldmark, Aerocity, featuring 11 food and drink concepts and cultural programming. This agreement aligns with Time Out's strategy to grow its Market portfolio, which currently includes 13 open locations globally, with additional sites under development.
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Time Out Group plc (AIM: TMO), the global media and hospitality business, is pleased to announce that it has entered into a binding franchise agreement with Quint Digital Limited ("Quint"), India's leading media-tech company, for the development and operation of Time Out Market Delhi.
The agreement marks the first franchise agreement for a Time Out Market globally and follows the three-year exclusive option granted to The Quint in May 2025 to explore Time Out Market opportunities in India.
Under the franchise agreement, The Quint will develop, fund and operate Time Out Market Delhi in accordance with Time Out's globally recognised Market concept and operating standards. The Group will generate revenue through contractual franchise fees and ongoing payments, while not contributing capital towards the development of the Market.
Time Out Market Delhi will be located at 5 Worldmark, Aerocity, the new phase of the Worldmark development and is currently anticipated to open in the second half of 2026. The Market is expected to comprise approximately 24,500 sq ft, featuring 11 food and drink concepts alongside cultural programming and events that showcase the best of Delhi.
Time Out Market is the world's first editorially curated food and cultural market, bringing the best of the city together under one roof: a curated mix of the city's best chefs, restaurateurs, drinks concepts and cultural experiences. Time Out's expert editors will work alongside the local team to help ensure the Market reflects the very best of Delhi's food, culture and talent.
The Delhi agreement represents a further step in the Group's strategy to expand the Time Out Market portfolio through capital-light partnership models. The existing Market portfolio includes 13 open Markets globally, with additional locations under development.
Chris Ohlund, CEO of Time Out Group plc, said: "This is a landmark moment for Time Out Market as we sign our first franchise agreement globally. The agreement demonstrates the strength and flexibility of the Time Out Market model and creates an additional pathway for international expansion through a highly capital-efficient structure. We are delighted to be taking this next step with The Quint, a trusted partner that shares our vision for bringing the very best of Delhi's food, culture and talent together under one roof."
The existing Market portfolio and expected opening schedule based on calendar year is as follows:
| Open Markets | Markets under development - opening in 2026 and beyond | |
| Owned & Operated | Partnerships: Management Agreements (MA) & Licensed (L) | Partnerships: Management Agreements (MA) & Franchise (F) |
| ● Lisbon ● New York, Brooklyn ● Porto ● Barcelona ● New York, Union Square | ● Montreal (MA) ● Dubai (MA) ● Cape Town (MA) ● Bahrain (MA) ● Osaka (MA) ● Budapest (MA) ● Boston (L) ● Vancouver (MA) | ● Delhi (F) - expected to open in 2026 ● Abu Dhabi (MA) - expected to open in 2026 ● Prague (MA) ● Riyadh (MA) |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.