Cafe Coffee Day to own 200 outlets by fiscal end

Thursday, 19 June 2003, 07:00 Hrs
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NEW DELHI: Café Coffee Day, one of India's leading café chains, Wednesday said it would have 200 outlets by the end of the current fiscal year, up from 100 now.

"As part of our plans to achieve a turnover of Rs 1 billion in the current fiscal year, we have set a target of setting up 200 shops by end of March 31, 2004," said Naresh Malhotra, director of Café Coffee Day.

Bangalore-based Amalgamated Bean Coffee Trading Company owns the majority 60 percent stake of Café Coffee Day. U.S.-based American Insurance Group Twenty holds 25 percent and company employees hold the remaining 15 percent.

"While continuing to consolidate our presence in west, south and east India markets, we will be growing in numbers in an aggressive manner in the northern part of the country," Malhotra told a press conference here.

Over the next few months, the retail chain plans to set up 40 more cafes in 16 new cities in seven states, he added.
Source: IANS
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