Global Franchise Architects (GFA), Switzerland-based restaurant group that owns admired brands like Pizza Corner, Donut Baker, Cream n Fudge, and Coffee World, announced their expansion plan for the Indian market.
Global Franchise Architects (GFA), Switzerland-based restaurant group that owns admired brands like Pizza Corner, Donut Baker, Cream n Fudge, and Coffee World, announced their expansion plan for the Indian market. Currently, 75 per cent of the 60 Pizza Corner outlets are under the franchise business model and the remaining are company owned outlets.
Joseph Cherian, CEO, GFA Global, said: “We have very recently put together an investment of Rs 40 crore which will be primarily channelised into opening Pizza Corner outlets in south India. We currently have over 100 outlets in India and we are in the process of opening 25 additional outlets to the Pizza Corner portfolio this year.”
GFA, is a subsidiary of Synergia One, a company founded by entrepreneur and a philanthropist, Fred Mouawad. It operates over 250 stores in 16 countries. As per the plan, the group will open a total of 40 stores across brands in India this year, in addition to the 101 stores they already have.
Cream n Fudge is also expanding and it will see some good growth this year. We will add about 10 more stores to the Cream N Fudge portfolio. With a constant growth rate of over 25 per cent in the last couple of years and having crossed 100 outlets in India this year, GFA share holders are investing Rs 40 crore to support their further expansion in the market.
Mouawad sees enormous opportunities in the India market in coming times. “The food service segment has been growing consistently over the past few years. Quick service restaurants and dine-in formats are estimated to have about 70 per cent penetration in the Indian food services industry. Delivery and take-away formats are also witnessing an increase in share. Capitalising on this fact we aim to tap the market by investing significantly into Pizza Corner and opening more stores. We are confident that India will contribute substantially to the overall group in the coming years and hence we have committed this investment in India,” he said.