India's retail cafe chain major Cafe Coffee Day on Thursday announced its plans to go global by opening at least 50 cafes in ten cities overseas, including in Europe, by June next year.
Naresh Malhotra, director, Cafe Coffee Day, said the chain was currently engaged in research and survey in prospective countries, but declined to name them. The company was seeking approval from the Reserve Bank of India and respective countries for the foray, he told reporters in Bangalore.
Asked if the company was looking at developed markets, Malhotra said Europe would be a definite destination.
Cafe Coffee Day is part of India's largest coffee conglomerate, the Rs 250 crore (Rs 2.50 billion) Amalgamated Bean Coffee Trading Company, which is already exporting coffee to Europe.
In India, Cafe Coffee Day currently has 135 cafes in 33 cities, he said, adding 45 more would be opened in the next three months, covering a total of 60 cities.
It currently has 59 Xpress kiosks in eight cities and the plan was to increase their number to 100 by March, he added.
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