Yellow Tie Hospitality today said it will invest USD 5 million (around Rs 35 crore) to open 25 stores of UK-based quick service restaurant, Wrapchic in the next three years in India.
The company, which has acquired the master franchise rights of the Indian burrito brand, said it has opened the first outlet in Chennai.
Wrapchic Founder Mahesh Raikar said the food industry in the country has been booming in the recent times, which provides a great opportunity for expansion.
"We plan to expand to 10 other countries by 2020 and expansion in India will be a pivotal point for our company," Raikar added.
Yellow Tie Hospitality Founder and CEO Karan Tanna said Wrapchic has done very well amongst the local population of UK and Dubai.
"We are planning to invest five million USD in the next three years with 25 stores at PAN India level across malls and corporate parks. We are very optimistic to grow Wrapchic not only in India but across Asia," he added.
Yellow Tie Hospitality has eight brands, including Genuine Broaster Chicken, Dhadoom and Just Falafel, in its portfolio under franchise model.
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