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The leading hospitality company of India, the Citymax India has recently entered into a Joint Venture (JV) with the US-based major coffee retail company named the Gloria Jeans Coffees. The main objective behind the JV is to launch a chain of coffee houses through out India very soon. The sources close to the deal have informed that the Citymax India will invest an amount of around Rs 40 crore in order to open 90 outlets in the country within the next four years.
According to a top official of the company, the first outlet will be opened in the cities of Mumbai by the month of February next year and two similar outlets will be opened in New Delhi in June and then in Bangaluru. While talking about the agreement, the Managing Director of Citimax India, Mr. Ravi Saxena said, "The organised coffee retail business in India is over Rs 80 crore. Currently, there are 1,200 coffee outlets and that number is set to increase to 2,500 in the next four years. There is a huge potential to grow". He also stated that the company is planning to promote the Gloria Jeans Coffees brand in India through franchising.
The International Regional General Manager of the other half of the deal, the Gloria Jeans Coffee, Mr. Troy Franklin was also expressing his views regarding the collaboration and said, "Gloria Jeans Coffees will offer a five-star coffee shop experience, but at affordable rates. It will target executives and professionals in the 25-45 year age group". Further he said that the unique selling proposition of the brand will be the usage of top quality beans and also the enhanced service standards of the brand.
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| Posted : 12/12/2007 |
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