Tea boutique Chai Chun is aiming at doubling its revenue in the next one year with expansion of retail outlets across the country, and is in talk with owners of two tea gardens in West Bengal’s Darjeeling for acquisition, a company official said on Tuesday.
The Siliguri-headquartered tea retailer clocks an annual revenue of Rs 8-10 crore at present.
It is betting big on widening footprint from the existing 20 units throughout the country, with plans to open outlets in 10 major airports in the next 12 months, Chai Chun MD and CEO Rajeev Baid said.
“We currently have 20 retail outlets across various locations such as Gurgaon, Bangalore, Kolkata and Dimapur. These include boutiques in Kolkata and Bagdogra airports. We are targeting to set up units in 10 major airports,” he said.
The tea boutique is all set to open four outlets at Varanasi, Vijayawada and Bhopal airports and one more at the Kolkata airport within two months, Baid said.
“We are expecting to at least double our revenue in the next one year, as we are bullish on the expansion plan and will launch more products to strengthen the current portfolio of 400 items,” Baid told PTI.
He stated that his company has plans to open outlets outside India as well.
“We have acquired Okayti tea estate in Darjeeling, which is known for its yield and quality. It is a 100-per cent organic tea garden. We are now looking at more acquisitions and in talks for two more tea gardens in the hills,” he said.
Started in 2015, Chai Chun, a unit of Evergreen Tea Group, procures about 4-5 lakh kg of tea per annum and is planning to double the volume over the next few years, Baid said.
The tea boutique offers more than 165 blends, including 80 of orthodox variety and 65 of herbal, floral, fruit and green categories, he added.