In order to expand its presence in Indian market, Singapore-based Italian fast food chain PastaMania has planned to invest around Rs 40 crore to set up 50 outlets by 2012 and is expecting a turnover of around Rs 120 crore.
For increasing its hold in India, PastaMania’s Mumbai-based master franchisee, Essence Retail Venture Ltd (ERVL) has entered into a joint venture with Franchisee India Holdings, a retail solutions provider. The joint venture, PastaMania India, would be a 50-50 partnership between ERVL and Franchisee India Holdings.
Speaking to media, Abhay Bengeri, director, ERVL, said, “PastaMania is planning to expand in the Indian market by investing Rs 40 crore to set up 50 stores in metros and mini-metros by 2010.”
PastaMania India has decided to open stores in both large and small formats with an area of around 1,800 and 1,300 sq ft respectively.
Elaborating their plans, Bengeri, said, “Apart from the existing stores serving Italian preparations like pizza and garlic breads, we want to offer pasta also through specialised stores.”
At present, PastaMania is operational in countries including Singapore, Indonesia, Malaysia, Dubai and Kuwait.