Premium yogurt chain in India, Cocoberry plans to roll out around 50 retail outlets pan-India by the end of fiscal 2010-11.
Cocoberry, which currently operates around 11 stores in Delhi/NCR and Mumbai, plans to expand its reach in cities such as Chandigarh, Bengaluru, Jaipur, Jalandhar, Amritsar, Ludhiana, Pune, Chennai, Kolkata among other cities.
GS Bhalla, managing director, Cocoberry, elaborates, “New outlets are likely to come up in Jaipur and Bengaluru within the first quarter of next fiscal and about two-three outlets are in the pipeline for launch in Chandigarh. We plan to operate around 18-20 outlets in Delhi/NCR by October this year and aim to touch the 50 outlets mark by end of next fiscal.”
Speaking exclusively to IndiaRetailing, Bhalla reveals that for the time being, company is looking at expanding in prime, upmarket locations in tier I and tier II cities. He adds, “We will be planning expansion in tier III cities in the next fiscal year.”
Buoyed by its first year of operations, the company expects to achieve a growth rate of 300 per cent by the end of current fiscal year.
Delhi-based frozen yogurt chain will start selling pre-packaged products through supermarkets and hypermarkets by the end of the year. Currently, Cocoberry’s products are sold through its exclusive branded outlets in three retail formats: shop-in-shops, takeaways and cafes.
“About 90 per cent of our revenues will continue to come from our outlets but we will enter the FMCG segment by the end of the year,” announces Bhalla.
— Juhi Sharma