Australian Foods India Pvt Ltd, the makers of cookie brand ‘Cookieman’, is scouting for partners to expand its network, for which it will invest Rs 25 crore over the next 5 years.
‘We’re looking to expand our base specifically in the north and west India through 100% franchise retail model. Over the next 5 years, the plan is to set up 75 new franchisees in India,’ Australian Foods president S B P Pattabhi Rao told.
The cookie maker has a 9 stores and 11 expresses, which are smaller in size, mostly in south India and is now focusing on tapping the market in the rest of the country.
Rao said the company would invest about Rs 25 crore for the purpose, besides set up a manufacturing facility either in Pune or Hyderabad which will add up to its existing dough factory in Chennai. To start with, the company would open 3 stores by April 2007 in Mumbai, Ahmedabad and Kolkata at an investment of Rs one crore. Along with major expansion over next 5 years, the company would shortly open two more kiosks in the national capital region and Mumbai.
Australian Foods is expecting a 2-fold increase in sales as a result of its expansion activities.
Rao said the company was looking at doubling revenues figure by year ending March 2007, from the current level of about of Rs 5 crore for the year ended March 2006.
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