New Delhi: Korea-based frozen yogurt maker Yogurberry said it will set up seven fresh stores in the country by end of next year and another 100 over the next five years. "The expansion plan will begin with new stores in Chennai and Bangalore, and additional stores in cities like Delhi-NCR and Mumbai," a company official said. After setting up stores in metros, the yogurt-maker said it will expand to tier-2 and tier-3 cities.
The South Korean firm has set up its operations in India through Dubai-based franchise operator - Synergy Holdings - as its master franchise. An official at Synergy Holdings said the franchisee plans to invest Rs 50 crore in the current financial year to expand operations.
To expand its presence in specific regions, Yogurberry has tied up with Raasha Leisure & Entertainment as its area franchisee for north and east, and Tack Food & Beverages for the west.
Synergy Holdings partner Pawan Batavia said in a statement: "Consumers in metros are looking for healthier, quick alternatives to replace traditional meals, with exposure to concepts such as low-fat and probiotic foods increasing."
To cater to Indian taste buds, Yogurberry has tweaked its menu and launched products like yogurt sundaes and smoothies based on local tastes and toppings.
According to research consultancy firm Technopak Advisors, the global frozen yogurt market is estimated at close to US$75 billion growing at a CAGR of 15- 18%. In India, Technopak estimates that over the next three years, the category will grow to US$5 billion.
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