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| South Korea's Yogurberry to enter India |
| Press Trust of India / New Delhi Aug 21, 2011, 16:55 IST |
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Global frozen yogurt major Yogurberry today said it would foray into India within the next three months and plans to open over 100 outlets across the country over the next five years.
The South Korean firm will set up its operations in India through Dubai-based master franchisee -- Synergy Holdings.
"India has lots of potential and we are very optimistic about our foray into the country. We will open our first store in the next three months in Delhi, followed by one in Mumbai," Synergy Holdings Partner Pawan Batavia said.
The company has aimed to open 10 outlets in this fiscal in the metros and major Tier-I cities, he added.
After establishing the network, the company will roll out its outlets in Tier II and III cities as well, he said.
"Our target is to open 105 outlets across India in the next five years. Out of these, 50 will come up in northern and eastern India," Batavia said.
When asked about the formats of the stores, Batavia said all outlets planned so far will be through franchisee route.
Synergy Holdings, which is the master franchisee of Yogurberry for India, Qatar, Bahrain and Oman, has already tied up with Raasha Leisure and Entertainment as the area franchisee for Northern and Eastern region of India.
"Franchise India has helped in identifying the right partner in India... We are now looking for a partner for the South and West India. If we cannot find, then we will set up a company and invest ourselves," he said without giving details.
Established in 2004, Yogurberry is present in many countries such as USA, China, Brazil, UAE, Kuwait, Qatar, Bahrain, Oman, Panama, Portugal, Malaysia, Sudan, Philippines, Indonesia, Vietnam and Macau.
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