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| Edited By: Devina Sengupta |Source: DNA |Updated: Mar 16, 2018, 06:02 AM IST
Cafe Coffee Day (CCD), the largest coffee chain in the country, is brewing fresh expansion plans, including in overseas market, with an eye on reaching the $1bn revenue mark by 2015.
The Rs750crore coffee major is rolling out 50 stores in Europe, Middle East and South East Asia over the next two years. The company already has six overseas outlets — two in Pakistan and four in Vienna.
Alok Gupta, director, Cafe Coffee Day, said “We are looking at inorganic growth for overseas expansion. We will set up 50 outlets in the three regions.”
He said the overseas venture will contribute 5 per cent to the company’s revenues and new outlets should raise the bar to 10-12 per cent.
On the domestic front, Coffee Day plans to take up its outlet tally from 821 to 1,000 by the end of FY10. The company has lined up an investment of Rs150crore into the domestic venture. This year, CCD is targeting to increase revenues to Rs840crore from Rs750crore last fiscal, added Gupta.
The company witnessed a 6-7 per cent drop in repeat orders during December 2008 to March 2009.
Gupta said increased competition has forced CCD to rebrand its logo and add new menus for the Lounge format. Currently, out of 1,200 coffee shops in the country, 821 belong to the CCD brand. Square is an exclusive coffee shop present only in Bangalore, but soon there will be eight to ten more in the metros.
