New Delhi: In tune with its plan to increase the total number of outlets to 300 in the current fiscal, Barista Coffee will open 80 new stores in the country with an investment of around Rs32 crore.
“We are planning to open 80 new stores in the country, by the end of current fiscal, out of which around 20 would be opened in towns in which we are not already present,” Barista Coffee’s chief executive officer Partha Dattagupta said.
Barista has around 206 outlets, including 17 in the overseas market. The company, which is focusing on opening stores in the domestic market, is following three models for this purpose viz. to open outlets areas near offices, the high-street area of high footfalls such as malls and shopping complexes and company-owned exclusive stores.
“These exclusive stores are the ones which are very important to us and we would open 10 more exclusive stores to add on to the 11 existing stores in the country” the CEO said.
The company would open two new stores in Bangladesh in the current fiscal. “Opening of each store will cost around Rs 40 lakh and the entire amount will be invested by the promoters,” Dattagupta said.
The company is also expected to break even by the end of current fiscal. Also, it may break even Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) margins in the next couple of months.