Just a while ago, they have announced that they will expand their presence in Pakistan and Austria. Yes!!! That’s right, they will open 50 outlets in Pakistan and Austria within the next 12 months involving a cost of Rs 15 crore [$3.5 Million]. In another significant development, Cafe Coffee Day CEO, Naresh Malhotra has resigned. Naresh was with the company for 6 years.
In India Cafe Coffee Day will take the store count to 1,000 and cover 100 cities by March-2008. Mumbai, Bangalore and Delhi / NCR will take the bulk of the stores while tier-II and tier-III cities like Amravati and Agartala will also get their first retail Coffee outlet.
Cafe Coffee Day also has around 40 outlets in the posh campuses of Infosys, Wipro and Accenture. The company had a turnover of Rs 400 crore [$100 Million] last year and is expected to grow 50% this year.