Yellow Tie Hospitality will invest $5 million to open 25 outlets of UK-based burrito fast food chain in India.
Yellow Tie Hospitality will open 25 outlets of a UK-based burrito fast food chain, Wrapchic, in India in the next 3 years. The company, which is investing $5 million to open the stores, has acquired the master franchise rights of the Indian burrito brand.
Founded by Mahesh Raikar in 2012, Yellow Tie Hospitality operates brands like Genuine Broaster Chicken, Dhadoom, and Just Falafel.
Raikar said, "We plan to expand to 10 other countries by 2020 and expansion in India will be a pivotal point for our company."
He also added that the food industry in the country has been booming in the recent times, which provides a great opportunity for expansion.
Karan Tanna, Founder & CEO of Yellow Tie Hospitality, said "We are planning to invest five million USD in the next three years with 25 stores at PAN India level across malls and corporate parks. We are very optimistic to grow Wrapchic not only in India but across Asia".