New book by Larry Connors Click here Improve your trading - See how
"We plan to enter India by end-this month and over the next three years expand our footprint pan-India to have a strong network of 99 outlets," Ideal Hospitality Chairman and Managing Director Jayant Mhaiskar told PTI here.
The coffee chain would have two formats -- Cafe and Cafe Lounge -- and would primarily target brand-conscious consumers, especially college students.
"The coffee market is emerging in India. The domestic market has grown by 15 per cent with a consumption of one lakh tonnes of coffee per annum. To tap this market, we have tied-up with Aromas to open coffee outlets across the country, including at airports," Mhaiskar said.
IHPL would be investing Rs 50-75 crore to open these 99 outlets, he said, adding that all outlets would be self- sustaining.
"In FY 10, we plan to set up 15 coffee outlets in metros and Tier-II cities," Mhaiskar said.
Of the 99 outlets, 60 per cent would be Cafe Lounges and rest would be Cafes, Mhaiskar said. IHPL has signed an MoU with Aromas through which it would own the Aromas brand in India and south-east Asia.
"Aromas would be paid 15 per cent of the gross revenue earned," Mhaiskar said.
Under the agreement, Aromas would hold a five per cent stake in IHPL and would also get a one-time fee on opening of every new outlet, he said.
The USP of Aromas would be its coffee beans which would initially be procured from Aromas' roastery in Australia and at a later date from within the country itself.
IHPL also has plans to set up a roastery in south India after building up a network of around 50 outlets, he said.
All Aromas outlets would be owned by IHPL in India while the franchisee route may be adopted in south-east Asia, Mhaiskar said.
Its two formats would serve coffee, tea and wine and pre-cooked foods with the Cafe Lounge also having a kitchen.
To start with, Aromas would serve 15 different preparations of coffee and 10 varieties of tea with the offerings being changed every quarter, Mhaiskar said.
Coffees would be served in the price range of Rs 47-78 and tea at between Rs 40-60, he said.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
