Wednesday, August 19, 2009

Coffee Day slates to open in Gangtok

Bangalore: Café Coffee Day has slated investment plans to the tune of Rs 150 crore to open up 200 cafes taking the total number from 800 to 1,000 by the end of this fiscal. Currently, the coffee chain major has a presence in 130 cities and intends to increase this to around 8-10 major towns including Gangtok and Dhanbad. The funds are raised from internal accruals. However, the company is also talking to private equity and venture capitalists as it intends to chalk entry plans to South East Asia, part of West Asia and Middle East. Its current international foot print is through five cafes at Vienna.

"We are exploring every path and it is too early to discuss. These are interesting times and we are in dialogue with several players to take our organic and inorganic plans forward," said Alok Gupta, director, Café Coffee Day.