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Domestic fried chicken brand Bangs introduced its exclusive food outlet in Chennai.
The retailer currently operates 40 plus outlets, including franchise outlets.
Cricketer Murali Vijay was present as the brand ambassador for Bangs.
Asvin Simon, Director, Bangs, said the new outlet would help people in Chennai enjoy a unique blend of fried chicken, burgers, pasta and hot wraps.
With the Indian fast food market growing at an annual rate of 35 per cent approximately, Bangs is of the opinion that it can corner a substantial share of the market.
Bangs has plans to open 500 outlets across the country in the next five years, of which 100 will be company-owned, while the rest will be franchise outlets.
The company plans to raise Rs 20 crore through private equity to finance the setting up the company-owned outlets.
For the franchise model, the average investment is about Rs 20 lakh-25 lakh.
With an annual turnover of Rs 30 crore, Bangs is aiming to take its store count to 70 by the end of 2013.
Next year’s target is to have 180-200 outlets across the country.
Also on the menu is an overseas entry with the launch of its first outlet in Doha, Qatar, with three outlets in Doha by the end of 2013.
Initially, the company has said it will target the Middle East only.
>amritanair.ghaswalla@thehindu.co.in
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