A husband-wife duo was the first one to bring the iconic Magnolia Bakery to India, which has a whopping worldwide revenue of USD 23 million.
While Mukesh Ambani and Ratan Tata’s companies Reliance Industries and Tata Group are known to bring major luxury brands and international stores to India, one entrepreneur couple secured a deal with a leading New York chain – Magnolia Bakery – and brought it to India.
Entrepreneurs Zonu Reddy and Nischay Jayeshankar, who always had a vision of opening a chain of restaurants across the country, brought an iconic United States-based bakery chain to the country – New York’s Magnolia Bakery, which gained fame through the popular TV show Sex and the City.
Reddy and Jayeshankar, who got married just a couple of years ago, decided to partner up and open their own entrepreneurial venture Spago Foods, which became the company that made a multi-crore deal with NY-based Magnolia Bakery, a cult classic in the United States.
The first Magnolia Bakery outlet was opened by Zonu Reddy and her husband in Bengaluru in 2019, and the couple has since then opened multiple franchises of the iconic ‘Sex and the City’ bakery across the country.
Zonu Reddy and Nischay Jayeshankar, after signing the deal with Magnolia Bakery NY, took 10 whole months to open the first store of the dessert chain in Bengaluru and later opened one in Hyderabad. Through this deal, the revenue of Spago Foods saw a major spike.
While Magnolia Bakery is more of a luxury dessert chain, its commercialization in India can potentially give tough competition to Ratan Tata’s Starbucks India and Mukesh Ambani’s Pret A Manger, both of which have dozens of outlets across India.
Magnolia Bakery is currently owned by a US-based businessman called Steve Abrams, and the overall revenue of the bakery chain is over USD 23 million, which comes out to over Rs 191 crore in Indian currency. Magnolia Bakery has 4 establishments in India currently, with the aim of opening a dozen more.
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 "This husband-wife duo brought iconic 'Sex and the City' bakery to India; competing with Tata Starbucks, Ambani’s Pret")
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