Jumbo King Foods to invest Rs 75 cr by 2011
"We will invest around Rs 75 crore by 2011 for expansion that would include establishing franchisee stores, company-owned stores and kiosks. We plan to raise money through private equity for our expansion," Jumbo King's Managing Director Dheeraj Gupta said.
The Indian snack-food retail chain also plans to expand its footprint by foraying into malls and establishing its presence in retail chains such as Reliance Fresh, More, Spencer's and Big Bazaar, amongst others, through kiosks.
The company has already tied-up with retailers and would pay rent for setting up its kiosks and outlets in the retail chains.
"We are importing the kiosks from China which cost around Rs 2,25,000 each and have plans to put up at least 280 such kiosks by 2011," Gupta said, adding that the company is also in talks with Indian Railways for putting up its stalls on railway stations.
"We also want to have a presence at airports," he said.
Jumbo King has already tied-up with BPCL for setting up its outlets at the latter's petrol pumps.
On overseas expansion, Gupta said, "We would like to expand abroad but only after we reach a certain scale within the country."
An overseas foray would, however, be through a joint venture, he said, adding "we plan to have an overseas presence in the next three years."