Domino’s Pizza (NYSE:DPZ) rolled out a new pan-style pizza for delivery on Monday at almost 5,000 stores. In a press release, the company said its new product — “Handmade Pan Pizza” — is made from handmade, never-frozen dough.
The move is seen as a direct challenge to Yum! Brands-owned (NYSE:YUM) Pizza Hut, famous for its pan pizzas.
The Handmade Pan Pizza is the latest in Domino’s menu revisions that began two years ago with the debut of a new hand-tossed recipe and this year’s “Artisan Pizza” launch.
This is the third time that Domino’s has attempted to enter the lucrative pan market. According to USA TODAY, the pan pizza is a $6.4 billion market that covering 1 in 5 pizzas sold.
Domino’s will be competing with more than just Pizza Hut, of course. Both rivals Little Caesars and Papa John’s (NASDAQ:PZZA) also sell pan pizza, not to mention countless independent operators.