India-based retail café chain Cafe Coffee Day is geared up to launch about 70 new stores, in a move to expand its footprint across the country over the next few years.
The company will invest around INR4m on each store, reported the Press Trust of India (PTI).
These stores will be located in both big and small towns, the Cafe Coffee Day claims.
Commenting on the development, Cafe Coffee Day director Venu Madhav was quoted by PTI as saying, "We are (having) 1,547 stores right now and we will add 60-70 stores in the next four-five months.
"The average consumer spend is good with us. The effect is not that much more pronounced on us and so we are going on with our expansion plans.
"Higher percentage is beverages followed by food. That is why with formats like lounges, we are seeing how we can up the food consumption," added Madhav.
Currently, Cafe Coffee Day has 1,550 stores across 200 cities in three formats, including lounges, cafes and kiosks.
