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| GFA to roll out 250 outlets worldwide; 100 in India by March 2010 |
| Chitra Unnithan / Mumbai/ Ahmedabad Sep 03, 2009, 00:29 IST |
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Geneva-based food service chain Global Franchise Architects (GFA) aims to open 250 stores around the world by March 2010, of which 100 will be in India. The company, which was initially planning to have these stores by the end of this year, has now postponed its plans to early next year.
For GFA, which has many brands like Cream & Fudge, Pizza Corner, Coffee World and Donut Baker, the investment for its upcoming outlets would vary from different formats and brands.
"We have currently 62 stores in India across all brands and our primary target is to reach 100 stores by March 2010. Our global target is to have 250 stores by March 2010. We were initially planning to have these stores opened by end of this year and now it has moved to March 2010. Investments vary from different formats and brands. It could range from five lakhs for a Donut Baker kiosk to 60 to70 lakhs for a Pizza Corner Dine-in. We are also in the process of raising capital and that would determine the rate of expansion in the coming years," Joseph Cherian, CEO, GFA India & managing director GFA Global Services told Business Standard.
Cherian added that the company is in the initial stages of discussion and that it would be difficult to provide numbers at this stage.
GFA is planning to tap the Indian food sector further by increasing its market share soon. "We know that there is a huge space for the food sector in the Indian Market and we are for sure planning to capture a greater pie of the quick service segment with the portfolio of brands we have. We constantly innovate at GFA and we consistently introduce new products in all GFA brands on a quarterly basis."
For the next quarter, the company plans to introduce new products like 'Nuts about Chocolate' for its Cream & Fudge brand, Rollies, an appetizer for Pizza Corner brand, diet sandwiches under Coffee World and new beverages under Donut Baker.
The company currently has a tie-up with Spencer's, which has the master franchisee to open Pizza Corner Express stores in their locations.
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