Barnies Gourmet Coffee &Tea Company, the US-based global coffee chain has opened its first outlet in India at Noida. The company will set up outlets in Mumbai, Bangalore as well as other upcoming cities. The company plans to invest Rs.80 crore to open about 300 stores and 150 kiosks in the next five years.
In the first year, the company will invest Rs 25 crore and launch 25 stores by August 2007. All the stores would be company-owned and only at a later stage would the company consider further franchising. The stores will be opened at malls and non-mall locations with an investment per outlet ranging from Rs 15 lakh to Rs 45 lakh.
Barnies is also in talks with some companies as well as realty developers of corporate offices for setting up exclusive outlets. Over the next couple of months it will also consider entering in the retail market with its vending machine business. With a presence in the US, Europe and West Asia, the company is looking to establishing itself in the Asia Pacific region.