The Hindu Business Line : Amalgamated Bean brews overseas plans

AMALGAMATED Bean Coffee Trading Co Ltd hopes to have 500 Café Coffee Day outlets across the country by the end of 2007. The company, which is likely to end fiscal 2004-05 with a turnover of Rs 300 crore, also hopes to have 50 overseas Café Coffee Day outlets by March 2006.

Stating this at a news conference here on Tuesday, Mr Naresh Malhotra, Director of Amalgamated Bean Coffee Trading Co Ltd, said one Café Coffee Day outlet has already been opened in Dubai under a joint venture with a local partner. In the months ahead, Café Coffee Day outlets would be opened in other geographies such as Europe and China.

Mr Malhotra was here to announce the launch of Café Coffee Day's first `Lounge Café' in Kolkata. The idea was to put in place 20 such Lounge Cafes across the country by December. Initiatives pertaining to the setting up of specialty cafes such as book cafes and highway cafes had been successful, he said. The idea now was to have cafes at fuel stations, airports and lounges of select private airlines.

According to him, the company invests, on an average, Rs 50 crore annually on branding initiatives and on setting up infrastructure for Café Coffee Day outlets.

Fifty per cent of the annual average investment is generated from internal accruals while the balance is accounted for by borrowings.

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