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Wednesday, May 17, 2006

Coffee Day parent brews plans to double presence

The Amalgamated Bean Coffee Trading Company (ABCTC) is looking to double its retail presence in the country. With the expansion, the company, parent of the coffee chain Cafe Coffee Day, will enter the Rs 1,000 crore club.

Naresh Malhotra, director, ABCTC, said the expansion would take place over the next 18 months. The increased number of stores is expected to contribute by 50 per cent to the total turnover. At present, the company's revenue is just above Rs 350 crore.

The company has just opened its 300th outlet in Mumbai and will be opening another 3-4 shops a week to take the number to 500 by June 2007.

Malhotra added that in addition to the existing cafe in Vienna, the company would be opening another one there in that city this month. Besides it is looking at another 20 cafe's in and around Austria.

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