Costa Coffee expanding fast in India
UK FRANCHISOR COSTA COFFEE has announced plans to establish a network of 290 outlets in India over the next four years. In August 2005 the company signed a Master Franchise agreement with local partner Devyani International, a food and drink group that also holds licences for Pizza Hut and KFC outlets in India.
Devyani International has already opened 12 outlets, and CEO Virag Joshi reports: "This year we will add another 50 outlets. We expect to be in all major cities in the next two years."
Adds Costa Coffee Managing Director Mark Phillips: "India will be a very important market for Costa. Our long-term plan is to have 300 outlets in the next three to four years. With the overall fast food segment growing at the rate of 40 per cent every year, coffee consumption is set to grow further. Coffee chains in India are expected to grow at a CAGR of over 30 per cent in the next couple of years."