India: Café Coffee Day owner details IPO plans

Photo: Mint

Coffee Day Enterprises Ltd (CDEL), the owner of the Café Coffee Day chain, claimed that its scale and operational efficiency will help it take on competition from international coffee shops.

“We have seen out all the storms. The first wave of competition came in 2005 and then four years ago we saw another player enter the market. Big brands came and said that they will open 500 to 1,000 stores and so we decided that we need to reach a scale of at least 1,500 stores by 2015 to remain ahead of competition,” said V.G. Siddhartha, founder of CDEL, on the sidelines of a press conference to announce the launch date of his firm’s initial public offering (IPO).

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter