Companies

Citymax to invest Rs 200 cr for expansion in India

PTI New Delhi | Updated on March 12, 2018 Published on February 15, 2011

Citymax India, part of Dubai-based retail and hospitality player, Landmark Group on Tuesday said it will invest up to Rs 200 crore in India in the next 3-4 years to expand operations in the country.

Citymax that operates outlets of Gloria Jean’s Coffees, family entertainment centres under the Fun City brand and Yellow Chilli restaurants here is also looking to bring in a few more international restaurant brands into the country.

“We will invest around Rs 200 crore in the next 3-4 years to expand the existing formats and establish new brands in India,” Citymax President Mr Manish Tandon told PTI.

Since Citymax started operation in India in 2006, the company has invested around Rs 70 crore in setting up the chain of coffee outlets and family entertainment destinations here.

“Citymax already operates in casual dining restaurant space with three Yellow Chilli outlets, conceptualised by Celebrity Chef Sanjeev Kapoor. Going ahead we intend to bring into India some more restaurant brands,” Mr Tandon said.

Landmark Group already has restaurant brands such as Carluccios, Mango Tree and Zen Oriental in its portfolio, which are likely to make their way into India.

Commenting on existing businesses, Mr Tandon said the company has plans to set up 400 Gloria Jean’s Coffees outlets across India in the next five years, up from 17 at present.

All the current outlets are company operated but going ahead the firm will consider sub-franchising the brand.

“We have 16 Fun City centres in shopping malls across India and by the middle of next year, the plan is to add another 10 such destinations,” he said.

Citymax’s expansion in India will be funded by its parent company, the Landmark Group along with bank loans, he added.

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Published on February 15, 2011
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