US-based burger chain Carl’s Jr’s franchise partner in India Cybiz BrightStar Restaurants Pvt Ltd plans to invest Rs 150 crore to open 100 outlets over the next five years.
“After taking 1.5-2 years to establish our brand in India, we are looking at expanding at a fast pace. We are looking at opening 20 outlets in this calender year. We plan to invest Rs 150 crore and open 100 outlets in the next 5 years,” Director at Cybiz BrightStar Restaurants, Samira Chopra told PTI.
Chopra said Cybiz BrightStar Restaurants is in talks to raise fresh funds to the tune of Rs 150 crore by the end of this year to support its expansion plans.
“We are in talks with high networth individuals (HNIs) and corporates to raise funds for Carl’s Jr’s expansion. We are looking at closing this by end of this year,” she added.
In the previous round of funding, the company had raised funds from cricketer Yuvraj Singh.
The company, which at present operates four outlets in the Delhi-NCR, said it aims to open the new outlets through a combination of company-owned and franchise outlets.
Carl’s Jr. launched its first restaurant in India on August 8, 2015 in Saket, New Delhi.
Carl’s Jr. has been endorsed by renowned international celebrities like Kim Kardashian, Padma Lakshmi and Paris Hilton in the US and Yuvraj Singh in India.