Pret a Manger
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This article may require cleanup to meet Wikipedia's quality standards. Please improve this article if you can. (September 2007) |
Pret A Manger ([In French language]) for "Ready to Eat", (as a reference of "Pret à porter" the main collection of couturier like D&G or Gaultier) (informally "Pret") is a UK sandwich retailer ([ after its Italian shareholder sold his shares to an investment company]). As of January 2007, some stores are being rebranded to just "Pret"[citation needed]. The company was founded in London in 1986 by friends Sinclair Beecham and Julian Metcalfe who met while studying property law at the Polytechnic of Central London, now the University of Westminster. The company's marketing emphasizes a passion for food, with all items made from "natural" ingredients. All sandwiches are made on the day of purchase in a kitchen at each location. The company states that those left unsold at the end of the day are collected by charities that provide food to the homeless. Sandwiches are packaged in cardboard rather than sealed plastic, to emphasize that they are fresh and cannot be kept overnight.
In 2001, McDonald's bought a 33% non-controlling stake in the USA branch of the company. Pret then expanded to New York (10 stores) and Hong Kong (10 stores). Unlike other fast food outlets, Pret A Manger is not a franchise. 85% of their trade is in London (where around three-quarters of their stores are located). It is still a private partnership, so its accounts are not open to the public.
The menu includes sandwiches, filled baguettes, soup, salad, and coffee. It also prepares desserts, muffins (the American variety), cakes, and croissants.
As of November 2006, there are 155 UK stores, 118 of which are in London.
Pret A Manger's sole Singapore outlet, opened in 2006 and located in the Ogilvy Centre on Robinson Road in the Central Business District, appeared to have closed permanently as of 2 January 2008.
In February 2008 the founders sold Pret a Manger for £345 million to a private equity firm called Bridgepoint and the US investment bank Goldman Sachs; they will however retain 25% of the company with the management[1].
[edit] Staff
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This section needs additional citations for verification. Please help improve this article by adding reliable references. Unsourced material may be challenged and removed. (December 2007) |
In 1998, the company employed 1,400 people, of whom 19% were from Britain and 60% were from other European Union countries, mainly in Eastern Europe. Pret a Manger only picks 1 in every 14 applicants. Applicants go on a one-day experience day at a store and their success is determined by the other staff members who vote the applicant in or not. There is a big focus on development internally, and many managers and senior executives have come from within the company.
[edit] References
- ^ Pret a Manger to be sold to private equity, The Telegraph, 23 February 2008
- The Economist: Employment: A new mix - In London, almost one in every nine workers is a foreign citizen. September 24, 1998
[edit] External links
- Company website
- Guardian article: Mine's a McLatte
- Fast Company articles:Recipe for Reinvention
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