Wednesday, January 24, 2001
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Pizza Corner India plans to invest Rs 100 cr for expanding operations 

Kavita K Bhaskaran & Rajeev Jayaswal  
New Delhi, Jan 23 : Pizza Corner India, a leading chain of exclusive Pizza outlets promoted by Global Investment Partners, TCW-ICICI and Global Retail Investment of Belgium, is planning to invest Rs 100 crore towards the expansion of its operations within the next couple of years.

The company is also planning to set up a chain of restaurants called `Coffee World' and a chain of superstores across the country called `EkiDiscounts'.Speaking to The Financial Express, Pizza Corner chief executive officer Antoine Bakache said, "the market for pizza has been increasing in the country and there is immense competition among the different players for the same. Therefore, we are planning to increase our market presence.

Availability, quality and reach are the important factors that command brand loyalty."

He added, "we have already invested $12 million towards expansion but we want to increase the availability of our pizzas across the country. Therefore, we are planning to invest Rs 100 crores to increase our retail outlets from the existing 24 to 100."

Mr Bakache said, "part of the investment money will come from internal accruals and the promoters will infuse fresh funds into the company for the expansion."

He added, "We are also looking at divesting a small part of the equity for bringing in additional investment."

Talking about his other plans for India Mr Bakache said, "I have a lot of plans for India. After consolidating the Pizza business, I plan to start other ventures in the country." He said the company has conducted a detailed market study for launching EkiDiscount, a chain of super discount departmental stores in the country." He also said the company has conducted a preliminary study for bringing in `Coffee world' into India. A detailed study will be conducted in the immediate future.

Copyright © 2001 Indian Express Newspapers (Bombay) Ltd.

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