With Indian consumers gradually becoming familiar with branded frozen yoghurt, virtually an unknown category until a few years ago, Cocoberry, the first Indian premium yoghurt chain, is hopeful of opening as many as 50 outlets within a year’s time.
At present, the chaqin has 33 outlets in the country and and looking to open a mix of franchise and company-owned stores.
“We will have a total of 50 outlets within a year. We are present in NCR, Lucknow, Dehradun, Mumbai, Pune, Bangalore and Surat with outlets opening shortly in Chandigarh, Kanpur, Gorakhpur and the Maldives,” Rahul Deans, CEO, Cocoberry told Indiaretailing.
Talking about the frozen yogurt industry, Deans said, “The industry is still at a nascent stage. The category has seen a lot of churn. However, being the only Indian brand in this category, we have a better understanding of our customers and the means to give them the kind of products we believe suit their preferences.”
“We also have 100% local sourcing — be it in equipment, concentrates or flavours — which gives us the lowest operating cost and the lowest price to customer,” Deans added.
Along with retail outlets, Cocoberrry is also planning to distribute its products online. “We are also looking at e-commerce sites to distribute our new range of low-fat ice-creams, which will enable us to expand in an asset-light manner.”
According to Deans, the company achieved positive same-store growth in the last fiscal, without any retail price mark-ups. The company is targetting same-store growth of over 10% in the current fiscal, again without any price increases. ?