Barista to open 80 branches across India

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New Delhi, April 24: : In tune with its plan to increase the total number of outlets to 300 in the current fiscal, Barista Coffee will open 80 new stores in the country with an investment of around Rs 32 crore.

"We are planning to open 80 new stores in the country, by the end of current fiscal, out of which around 20 would be opened in towns in which we are not already present," Barista Coffee's Chief Executive Officer Partha Dattagupta said in New Delhi on Friday.

Barista has around 206 outlets, including 17 in the overseas market.

The company, which is focusing on opening stores in the domestic market, is following three models for this purpose the corporate ones, in which it opens outlets areas near offices, the high-street area of high footfalls such as malls and shopping complexes and company-owned exclusive stores.

"These exclusive stores are the ones which are very important to us and we would open 10 more exclusive stores to add on to the 11 existing stores in the country" the CEO said.

As per the plan for stores in towns where Barista does not have any presence till now, these would be owned by the company. The promoters of the company would invest the amount required for expansion.

Besides this, the company would open two new stores in Bangladesh in the current fiscal.

"Opening of each store will cost around Rs 40 lakh and the entire amount will be invested by the promoters," Dattagupta said.

The company is also expected to break even by the end of current fiscal. Also, it may break even Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) margins in the next couple of months.

Besides, the company which takes an overview of its stores on an annual basis and had shut down 10 outlets last year as these were not profitable, would close 10 more this fiscal

"We do look at stores on an annual basis, some of these are mistakes and some suffer due to high rentals" Dattagupta said.

On inflation he said, in order to beat the impact of rising prices, the company is working on improving efficiency and introducing innovative recipies.