Cocoberry plans for Indian and international expansion
Cocoberry, a New Delhi based chain of frozen yogurt is all set to mark its presence felt in the international markets. The company plans to enter the South East Asian and West Asian market by 2011. Besides this, the company is also aiming to open 50 franchised stores by March 2011 in India.
Cocoberry’s foreign expansion is planned through a joint venture and the company is targeting to open five stores in the next fiscal year. Presently, it is in talks with few retail chains to set up highway stores. Whereas in India, the company is all set to launch 15 franchises stores in the coming quarter in cities like Bengaluru, Chandigarh, Jalandhar, Amritsar, Ludhiana, Chennai and Jaipur.
Presently, the company is operating through 11 stores and is looking to expand its presence in cities like Mumbai and Pune also. The company is going to invest Rs 120 crore on this expansion plan. Cocoberry closed this financial year with annual revenue of Rs 5.5 crore and is now aiming to achieve 400 per cent growth by the end of 2011.