Barnie's Coffee to set up 25 stores in India by Aug'07

New Delhi, Aug 17 (UNI) US-based coffee chain Barnie's today forayed into India while announcing that it will pump in Rs 25 crore in the market here to set up 25 stores by August next year.

''We will invest Rs 25 crore in the first year of operations and launch 25 stores by August 2007,'' Barnie's Coffee&Tea Company MD Gaurav Marya said here.

The company aims to hold a significant share in the growing coffee market in India, with 300 outlets and 150 kiosks in the next five years, Mr Marya said.

''Driven by the rising income, the coffee retail business is estimated to grow to Rs 1,000 crore in next five years and India will have over 1500 cafes by the year 2008.'' The company has three formats to franchise in the markets and they cater to the mall stores, single unit franchises and non-mall locations. The investment per outlet ranges from Rs 15 lakh to Rs 45 lakh.

Barnie's first outlet was launched in Noida today.

It presently has over 300 outlets in the major commercial hubs like Puerto-Rico, Ohio, South Carolina, Middle East, Ireland, Orlando, Virginia, Alabama, Tampa, Kuwait, China, Jakarta, Carribean, Dublin, Miami, Atlanta and New York.

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