MUMBAI: Cafe Coffee Day, a division of amalgamated Bean Coffee Trading Co, will be investing Rs 95 crore to Rs 100 crore as a part of its expansion plan in the next 12-15 months.
"Presently, we are having 435 outlets in 83 cities and we would go up to 700 outlets in the next 12-15 months in India. We will also have 50 outlets in Vienna and Karachi in the next two years," Cafe Coffee Day's Head Operations A Venu Madhav said on the sidelines of a CII seminar here today.
He said each outlet would cost about Rs 25-30 lakh. "Karachi does not have hang-out places for youths and it is a potential place for Cafe Coffee Day to have its outlets there. The response for Indian coffee is good in Vienna. So we have selected these two places as a part of our expansion plans," he said.
Cafe Coffee Day has an outlet each in Vienna and Karachi. In India, the outlets will be located in Delhi, Mumbai and Chennai.
The company would fund the growth through internal accruals and has no immediate plans to go public, he said, while ruling out the possibilities of any joint venture or acquisitions.
However, he said: "If Starbucks comes to India, we will have to work more aggressively to sustain the competition."
In FY06-07, Cafe Coffee Day's turnover was Rs 400 crore. In FY07-08 the turnover would be Rs 600 crore, he said.
"We are expecting a 50 per cent revenue growth in the next financial year," he added.
