Hyderabad: The Shanghai Jiading Advanced Technology Innovation and Business Incubator has set out the red carpet for Indian technology innovators and SMEs, especially in renewable energy, biomedical devices and advanced manufacturing.
A team of officials from the Jiading facility, which has about 130 companies, visited Hyderabad to interact with industrialists and research institutions.
The team is marketing the facility as the first step to enter into the Chinese market, as setting up a unit there has become easier since the Shanghai administration unrolled reforms in the form of a free trade zone policy last year.
“We not only help incubators and start-ups set up their business in Jiading, but we also invest in early stage companies and help other businesses to raise resources,” Jia Zeng Qiang, deputy director, told a meeting of entrepreneurs organised by the Federation of AP Chambers of Commerce and Industries here today.
He said they were especially focussing on innovative technology companies, which can share and grow their technologies jointly with similar Chinese companies.
Satyam-Venture Engineering Services ltd, which provides automotive engineering solutions, is one of the first Indian companies to set up a unit at the Jiading facility. “Our experience has been good. We are now looking at setting up a laboratory there and later expanding into other parts of China,” PV Krishnakumar, Vice-President of the company, said.
Success in my Habit
Thursday, April 24, 2014
TCS, Mitsubishi form $600-m IT services firm
Mumbai: Tata Consultancy Services will merge its two units in Japan with Mitsubishi Corp’s IT subsidiary to create a joint venture company with a revenue base of $600 million in the world’s second-largest market for software services.
Two of TCS’ existing units, Nippon TCS Solution Center Ltd (NTSC) and TCS Japan, will be consolidated with IT Frontier Corp (ITF), the $500-million IT subsidiary of Tokyo-based Mitsubishi Corp.
The new entity, TCS Japan, will have annual revenues of $600 million and a headcount of 2,400. TCS will invest about $50 million ( Rs. 300 crore) to acquire a 51 per cent stake in TCS Japan, with Mitsubishi owning the rest, N Chandrasekaran, TCS Chief Executive Officer and Managing Director, said at a news conference here on Monday.
Scaling up
The joint venture firm will help TCS build scale and acquire new clients in Japan, he added. Before the merger, TCS’ Japan revenues amounted to $100 million.
The Japanese IT services market is worth $100 billion but it accounts for less than 2 per cent of India’s software exports. None of the home-bred IT firms has crossed the $150-million-revenue threshold in Japan, said Arup Roy, Research Director at advisory firm Gartner. Japanese companies have traditionally preferred either local or Chinese firms for technology outsourcing work. The Mumbai-based company will have the option of raising its stake in TCS Japan to 65 per cent at the end of five years, said TCS’ Chief Financial Officer Rajesh Gopinathan.
Mitsubishi, a diversified conglomerate, will contribute about $250 million to the joint venture’s revenue. Tata Japan will get access to several of ITF’s customers in sectors such as financial services, retail, hi-tech and manufacturing, Chandrasekaran said.
Two of TCS’ existing units, Nippon TCS Solution Center Ltd (NTSC) and TCS Japan, will be consolidated with IT Frontier Corp (ITF), the $500-million IT subsidiary of Tokyo-based Mitsubishi Corp.
The new entity, TCS Japan, will have annual revenues of $600 million and a headcount of 2,400. TCS will invest about $50 million ( Rs. 300 crore) to acquire a 51 per cent stake in TCS Japan, with Mitsubishi owning the rest, N Chandrasekaran, TCS Chief Executive Officer and Managing Director, said at a news conference here on Monday.
Scaling up
The joint venture firm will help TCS build scale and acquire new clients in Japan, he added. Before the merger, TCS’ Japan revenues amounted to $100 million.
The Japanese IT services market is worth $100 billion but it accounts for less than 2 per cent of India’s software exports. None of the home-bred IT firms has crossed the $150-million-revenue threshold in Japan, said Arup Roy, Research Director at advisory firm Gartner. Japanese companies have traditionally preferred either local or Chinese firms for technology outsourcing work. The Mumbai-based company will have the option of raising its stake in TCS Japan to 65 per cent at the end of five years, said TCS’ Chief Financial Officer Rajesh Gopinathan.
Mitsubishi, a diversified conglomerate, will contribute about $250 million to the joint venture’s revenue. Tata Japan will get access to several of ITF’s customers in sectors such as financial services, retail, hi-tech and manufacturing, Chandrasekaran said.
Snapdeal buys product discovery site Doozton
Mumbai: Online marketplace Snapdeal.com has acquired product discovery technology firm Doozton.com for an undisclosed amount.
Doozton helps consumers discover trending products and designs from across online fashion portals in India. It also offers suggestions as to what to wear and what to buy for different occasions.
Snapdeal, which got about $134 million in its fourth round of funding from existing investors led by eBay early this year, is also strengthening its position in the apparel and accessories segment through acquisitions and tie-ups.
Industry reports suggest that fashion is the fastest growing category that contributes about 40 per cent of overall sales for any online portal. Growth is happening on the back of growing aspiration, awareness about global trends, and unavailability of brands in smaller towns and an increased usage of smartphones.
Rohit Bansal, Co-Founder and COO, Snapdeal.com, said, “In a short span of time since its inception, Doozton.com has earned popularity amongst its users, making shopping fun, easy and social with the best of fashion and lifestyle product suggestions including clothes, shoes and accessories for men and women. We have seen a 10 times growth in our fashion categories in the last 12 months, and we foresee the benefits of this acquisition will boost this growth.”
Pushpendra Singh, an IIT alumnus and founder of Doozton.com, said that with Snapdeal, the technology of Doozton.com would get a more established platform. Doozton was founded in March 2013.
Doozton helps consumers discover trending products and designs from across online fashion portals in India. It also offers suggestions as to what to wear and what to buy for different occasions.
Snapdeal, which got about $134 million in its fourth round of funding from existing investors led by eBay early this year, is also strengthening its position in the apparel and accessories segment through acquisitions and tie-ups.
Industry reports suggest that fashion is the fastest growing category that contributes about 40 per cent of overall sales for any online portal. Growth is happening on the back of growing aspiration, awareness about global trends, and unavailability of brands in smaller towns and an increased usage of smartphones.
Rohit Bansal, Co-Founder and COO, Snapdeal.com, said, “In a short span of time since its inception, Doozton.com has earned popularity amongst its users, making shopping fun, easy and social with the best of fashion and lifestyle product suggestions including clothes, shoes and accessories for men and women. We have seen a 10 times growth in our fashion categories in the last 12 months, and we foresee the benefits of this acquisition will boost this growth.”
Pushpendra Singh, an IIT alumnus and founder of Doozton.com, said that with Snapdeal, the technology of Doozton.com would get a more established platform. Doozton was founded in March 2013.
Videocon set to acquire Datsons Labs for Rs 350 cr
Mumbai: Videocon Industries is set to acquire Dr Datsons Labs Ltd (DTL) at an enterprise value of Rs 350 crore. Sources said negotiations in this regard were in advanced stages and a deal might be signed soon.
“We are in talks with a couple of merchant bankers for a possible sale. At the same time, we are also evaluating other options, including investments into the company, to meet our proposed capital expenditure plan for expansion projects. By next week, we will be finalising the name of the merchant banker for a possible stake sale,” said DTL Vice-chairman Kannan Vishwanath.
Sources said Videocon had written to Bank of Baroda to extend Rs 35 crore of credit to acquire additional stake in DTL.
Videocon Industries Chairman Venugopal Dhoot declined to comment.
Promoters hold about 40 per cent stake in DTL. In the quarter ended March, foreign portfolio investors, including Davos International Fund, Leman Diversified Fund, Stream Value Fund and Kuvera Fund, acquired 9.35 per cent in DTL from various domestic individual and institutional investors.
During the March quarter, Videocon, through its subsidiaries, had increased its stake in DTL to 19 per cent. In the previous quarter, it held nine per cent stake.
A leading broker on BSE and the National Stock Exchange said the market was abuzz with speculation of Videocon acquiring DTL.
“We are looking for capital investment at least of Rs 250 crore for our proposed expansion in Mahad and Pune. We have already applied for 17 patents of anti-cancer drugs, for which plants and machinery are already in place. With the new investments, we will commence production on these plants,” said Vishwanath. “Through fresh capital infusion, we want to ramp up our presence in developed regions, including Europe and the US.”
DTL, a research-focused pharmaceuticals company, manufactures active pharmaceutical ingredients (APIs) and finished dosage forms and provides contract research and manufacturing services. It focuses on five niche business areas — anti-malaria, multi-therapeutic lozenges, oncology products, HIV products and codeine-based cough syrups. The market leader in the anti-malarial API segment, it is present in 61 countries.
DTL’s market capitalisation stands at Rs 121 crore. The company stock fell to Rs 38.4 at close of trade on BSE, against its previous close of Rs 45.7.
“We are in talks with a couple of merchant bankers for a possible sale. At the same time, we are also evaluating other options, including investments into the company, to meet our proposed capital expenditure plan for expansion projects. By next week, we will be finalising the name of the merchant banker for a possible stake sale,” said DTL Vice-chairman Kannan Vishwanath.
Sources said Videocon had written to Bank of Baroda to extend Rs 35 crore of credit to acquire additional stake in DTL.
Videocon Industries Chairman Venugopal Dhoot declined to comment.
Promoters hold about 40 per cent stake in DTL. In the quarter ended March, foreign portfolio investors, including Davos International Fund, Leman Diversified Fund, Stream Value Fund and Kuvera Fund, acquired 9.35 per cent in DTL from various domestic individual and institutional investors.
During the March quarter, Videocon, through its subsidiaries, had increased its stake in DTL to 19 per cent. In the previous quarter, it held nine per cent stake.
A leading broker on BSE and the National Stock Exchange said the market was abuzz with speculation of Videocon acquiring DTL.
“We are looking for capital investment at least of Rs 250 crore for our proposed expansion in Mahad and Pune. We have already applied for 17 patents of anti-cancer drugs, for which plants and machinery are already in place. With the new investments, we will commence production on these plants,” said Vishwanath. “Through fresh capital infusion, we want to ramp up our presence in developed regions, including Europe and the US.”
DTL, a research-focused pharmaceuticals company, manufactures active pharmaceutical ingredients (APIs) and finished dosage forms and provides contract research and manufacturing services. It focuses on five niche business areas — anti-malaria, multi-therapeutic lozenges, oncology products, HIV products and codeine-based cough syrups. The market leader in the anti-malarial API segment, it is present in 61 countries.
DTL’s market capitalisation stands at Rs 121 crore. The company stock fell to Rs 38.4 at close of trade on BSE, against its previous close of Rs 45.7.
Tuesday, April 15, 2014
Kerala-based firm holding trials to make turmeric a food supplement
Kochi: Arjuna Natural Extracts Ltd is pinning its hopes on clinical trials of the value-added properties of turmeric for its usage as a food supplement.
The Kerala-based company is carrying out human clinical trials on this spice with the support of Spices Board to promote its value-addition.
PJ Kunjachan, Chairman and Managing Director, said that he is confident of positive results and this would give a major boost to turmeric in developed countries in the food supplement category, which is growing at 15 per cent every year.
He said that turmeric was used usually as a natural colour pigment for food applications and there was no value addition even in the traditional ayurveda due to lack of awareness among people.
However, the good response received by the company for its turmeric extract – BCM 95 – from developed countries has prompted to go for clinical trials, he said.
BCM 95 is a patented formulation of curcumin, the bio active concept of turmeric with anti-oxidant, anti-inflammatory and anti-cancer properties, he said.
Turmeric can be converted as an ideal health food supplement with some value addition. Even the clinical trials conducted on BCM 95 in association with American and Australian universities have got good response for its usage in pharma and neutraceuticals, he said.
Apart form turmeric extracts, the company also developed amla , green tea, pomegranate, ginger, Omega 3 fatty acid from fish oils, red spinach and mustard. Arjuna is the only company in India to develop Omega 3 fatty acid catering to the requirements of pharmaceutical companies both in India and overseas, he said.
The company has invested Rs. 10 crore at its Keezhmadu R&D centre for the extraction of medicinal values for various botanicals included keezharnelli (Phyllanthus Niruri), insulin plant (Costus Pictus), Bosewellia Serrata.
Arjuna was established in 1992 for spice-related products. Eventually it moved into studying medicinal value of spices and other botanicals.
Today, it has 18 patented products out of which 11 have been commercialised globally. He said 95 per cent of the extracts have been exported to around 40 countries. On future plans, he said that the vision is to convert promising botanical extracts into drugs in association with big pharma companies.
The Kerala-based company is carrying out human clinical trials on this spice with the support of Spices Board to promote its value-addition.
PJ Kunjachan, Chairman and Managing Director, said that he is confident of positive results and this would give a major boost to turmeric in developed countries in the food supplement category, which is growing at 15 per cent every year.
He said that turmeric was used usually as a natural colour pigment for food applications and there was no value addition even in the traditional ayurveda due to lack of awareness among people.
However, the good response received by the company for its turmeric extract – BCM 95 – from developed countries has prompted to go for clinical trials, he said.
BCM 95 is a patented formulation of curcumin, the bio active concept of turmeric with anti-oxidant, anti-inflammatory and anti-cancer properties, he said.
Turmeric can be converted as an ideal health food supplement with some value addition. Even the clinical trials conducted on BCM 95 in association with American and Australian universities have got good response for its usage in pharma and neutraceuticals, he said.
Apart form turmeric extracts, the company also developed amla , green tea, pomegranate, ginger, Omega 3 fatty acid from fish oils, red spinach and mustard. Arjuna is the only company in India to develop Omega 3 fatty acid catering to the requirements of pharmaceutical companies both in India and overseas, he said.
The company has invested Rs. 10 crore at its Keezhmadu R&D centre for the extraction of medicinal values for various botanicals included keezharnelli (Phyllanthus Niruri), insulin plant (Costus Pictus), Bosewellia Serrata.
Arjuna was established in 1992 for spice-related products. Eventually it moved into studying medicinal value of spices and other botanicals.
Today, it has 18 patented products out of which 11 have been commercialised globally. He said 95 per cent of the extracts have been exported to around 40 countries. On future plans, he said that the vision is to convert promising botanical extracts into drugs in association with big pharma companies.
Dr Batra's plans to open 53 clinics in India
Chennai: Dr Batra’s, a leading homeopathy chain in India, plans to open 25 company-owned clinics within the country and 10 such clinics abroad. It also plans to add 28 franchisee-owned clinics this year in India. At the moment, there are 119 company-owned clinics (including three abroad) and 22 franchisee-run clinics across the country, said founder and chairman Mukesh Batra. Through the franchisee model, the company plans to penetrate Tier-III and Tier-IV towns. “It is important to have a local partner who can understand the local sentiment. Besides, the company cannot penetrate at that level,” said Batra. He added that 11 franchisees had completed one year and they’ve recovered their investments in nine to 10 months. Over the next two-to-three years, the company plans to open 10 clinics in West Asia and one in London. Each of these clinics would cost Rs 1 crore, said Sandeep Saxena, chief executive, Dr Batra’s Group.
Saxena added that the company would invest about Rs 10 crore this year in new clinics in India in building manufacturing facility as well as adding other infrastructure. "The investments will be funded through debt and internal accruals. We have not thought about roping in an investor so far," said Batra.
Commenting on the company's performance, he said last year was the year of consolidation and the firm is ready to grow from this year onwards.
Last year, the group had started new verticals including media (to publish a magazine), hospital for pets, academy, and added a second clinic in Dubai. Today, the company's products are available across 600 outlets and the target is to take it to 4,000 outlets by 2015, said Batra.
The group has set a target to grow 40-50% in 2014-15. It had reported a turnover of Rs 152 crore in 2013-14 and Rs 135 crore in the previous year.
Saxena added that the company would invest about Rs 10 crore this year in new clinics in India in building manufacturing facility as well as adding other infrastructure. "The investments will be funded through debt and internal accruals. We have not thought about roping in an investor so far," said Batra.
Commenting on the company's performance, he said last year was the year of consolidation and the firm is ready to grow from this year onwards.
Last year, the group had started new verticals including media (to publish a magazine), hospital for pets, academy, and added a second clinic in Dubai. Today, the company's products are available across 600 outlets and the target is to take it to 4,000 outlets by 2015, said Batra.
The group has set a target to grow 40-50% in 2014-15. It had reported a turnover of Rs 152 crore in 2013-14 and Rs 135 crore in the previous year.
Gamesa India to commission 800MW of wind power projects in 2014-15
Chennai: Gamesa India, which was one of the top wind turbine makers during 2013-14, is targeting 800MW of wind power capacity addition across the country in 2014-15.
The company currently has over 200MW of windmills ready to be commissioned and has orders on hand for about 600MW.
The company commissioned 400MW of projects during 2013-14, topping the list of wind turbine manufacturers in the country during the year. Gamesa has now crossed 1000MW of installed capacity in India.
The Spanish company, which started operations in India in 2010, now contributes 22% of Gamesa's global sales. Gamesa globally had a turnover of 2.3 billion euro in 2013 and contribution from the Indian operations went up to 22% from 12% in 2012.
"The market in India will go up substantially and Gamesa India will gradually increase its contribution to the global sales," Ramesh Kymal, chairman & managing director, Gamesa India, said.
Gamesa, one of the top six wind turbine makers in the world, has invested over Rs 1,500 crore for its Indian operations over the last four years for its manufacturing units in Tamil Nadu and Gujarat.
Apart from preparing for the orders on hand, Gamesa India has also developed a strong 'megawatt pipeline,' which refers to preparedness to execute orders after completing all the preparatory work such as acquiring land and approvals to set up the wind farms.
The company currently has over 200MW of windmills ready to be commissioned and has orders on hand for about 600MW.
The company commissioned 400MW of projects during 2013-14, topping the list of wind turbine manufacturers in the country during the year. Gamesa has now crossed 1000MW of installed capacity in India.
The Spanish company, which started operations in India in 2010, now contributes 22% of Gamesa's global sales. Gamesa globally had a turnover of 2.3 billion euro in 2013 and contribution from the Indian operations went up to 22% from 12% in 2012.
"The market in India will go up substantially and Gamesa India will gradually increase its contribution to the global sales," Ramesh Kymal, chairman & managing director, Gamesa India, said.
Gamesa, one of the top six wind turbine makers in the world, has invested over Rs 1,500 crore for its Indian operations over the last four years for its manufacturing units in Tamil Nadu and Gujarat.
Apart from preparing for the orders on hand, Gamesa India has also developed a strong 'megawatt pipeline,' which refers to preparedness to execute orders after completing all the preparatory work such as acquiring land and approvals to set up the wind farms.
M&M unit in tie-up with Belgian fresh produce firm UNIVEG
Mumbai: Giving a fresh impetus to its agri-business, Mahindra ShubhLabh Services, which is a subsidiary of Mahindra & Mahindra, has entered into a 60:40 joint venture with UNIVEG, a Belgium-based €3.2 billion fresh produce company, in which it will have a majority stake.
The joint venture company would be investing Rs. 30 crore in the first two years, with additional investments made by logistics and supply chain partners.
Focus on quality
The joint venture company would focus on developing a fresh fruit supply chain to provide high quality fruits for domestic and international markets.
Other than grapes, the venture would focus on select fruits such as bananas, apples, pears and citrus fruits.
Pawan Goenka, Executive Director, Mahindra & Mahindra said: “This joint venture would enable both companies to leverage each other’s strengths by further improving the fresh produce supply chain through various interventions and investments across India.”
In November 2013, Mahindra ShubhLabh Services launched its fresh fruit brand Saboro, for the health-conscious Indian consumer. Fruits from the new venture would also be marketed under the Saboro brand.
Right mix
Hein Deprez, Executive Chairman and major shareholder, UNIVEG Group added: “We consider this association the right mix of market presence and farmer connect. Mahindra’s reach, together with our proven technical expertise across six continents and 32 distribution centres in Europe, would be beneficial for all stakeholders”.
The joint venture company would be investing Rs. 30 crore in the first two years, with additional investments made by logistics and supply chain partners.
Focus on quality
The joint venture company would focus on developing a fresh fruit supply chain to provide high quality fruits for domestic and international markets.
Other than grapes, the venture would focus on select fruits such as bananas, apples, pears and citrus fruits.
Pawan Goenka, Executive Director, Mahindra & Mahindra said: “This joint venture would enable both companies to leverage each other’s strengths by further improving the fresh produce supply chain through various interventions and investments across India.”
In November 2013, Mahindra ShubhLabh Services launched its fresh fruit brand Saboro, for the health-conscious Indian consumer. Fruits from the new venture would also be marketed under the Saboro brand.
Right mix
Hein Deprez, Executive Chairman and major shareholder, UNIVEG Group added: “We consider this association the right mix of market presence and farmer connect. Mahindra’s reach, together with our proven technical expertise across six continents and 32 distribution centres in Europe, would be beneficial for all stakeholders”.
P&G to invest Rs. 244 crore in Indian arm
Mumbai: World’s largest consumer goods manufacturer Procter and Gamble (P&G) plans to invest about Rs. 244 crore in its unlisted Indian arm P&G Home Products this year.
This investment is a part of its overall commitment to take on competitor and the country’s largest fast-moving consumer goods firm Hindustan Unilever Ltd (HUL) in terms of product portfolio and reach.
While, P&G India’s overall sales are estimated at Rs. 6,000 crore, HUL is almost four times bigger at Rs. 26,000 crore.
But they both compete in several key segments such as detergents, hair and skin care where HUL by far is the market leader.
P&G India, in a board meeting held last month, had decided to issue 31.68 lakh of shares of 10 each at a premium of Rs. 760 to its $32-billion parent company.
The fresh funds earmarked for India takes P&G's total investment in the country to around Rs. 1,000 crore in the fiscal ended March 2014.
While the company declined to comment on the development as it was in a silent period, it is understood that the funds would be used for capital expenditure, increasing the company’s marketing activity, innovation and expanding its distribution network in the country.
Mass offerings
P&G India has reported double-digit growth consistently in the last few years with its brands Whisper, Pantene, Oral B, Vicks, Gillette, Ariel and Tide.
But still, it has not been able to catch up with HUL due to its premium offerings.
Analysts feel P&G is more into the value game unlike HUL, which has products in the mass-end such as Wheel and Lifebuoy.
P&G's increased investments could be to enter the market with more mass offerings and also to raise its advertisement spends. The company also plans to revisit its ‘Project 2-3-4’, which is aimed at doubling the number of Indians who use its products, trebling per capita spending by Indians on its products and quadrupling net sales in India by 2015.
This investment is a part of its overall commitment to take on competitor and the country’s largest fast-moving consumer goods firm Hindustan Unilever Ltd (HUL) in terms of product portfolio and reach.
While, P&G India’s overall sales are estimated at Rs. 6,000 crore, HUL is almost four times bigger at Rs. 26,000 crore.
But they both compete in several key segments such as detergents, hair and skin care where HUL by far is the market leader.
P&G India, in a board meeting held last month, had decided to issue 31.68 lakh of shares of 10 each at a premium of Rs. 760 to its $32-billion parent company.
The fresh funds earmarked for India takes P&G's total investment in the country to around Rs. 1,000 crore in the fiscal ended March 2014.
While the company declined to comment on the development as it was in a silent period, it is understood that the funds would be used for capital expenditure, increasing the company’s marketing activity, innovation and expanding its distribution network in the country.
Mass offerings
P&G India has reported double-digit growth consistently in the last few years with its brands Whisper, Pantene, Oral B, Vicks, Gillette, Ariel and Tide.
But still, it has not been able to catch up with HUL due to its premium offerings.
Analysts feel P&G is more into the value game unlike HUL, which has products in the mass-end such as Wheel and Lifebuoy.
P&G's increased investments could be to enter the market with more mass offerings and also to raise its advertisement spends. The company also plans to revisit its ‘Project 2-3-4’, which is aimed at doubling the number of Indians who use its products, trebling per capita spending by Indians on its products and quadrupling net sales in India by 2015.
Monday, April 14, 2014
Oriental Cuisines to open 50 French Loaf, Le Chocolatier outlets in FY 2014-15
Chennai: Oriental Cuisines Private Ltd will open 50 outlets of its bakery brands French Loaf and Le Chocolatier by the end of this financial year, taking the total number of the outlets to about 200, a statement from the company said.
The company has started franchising its bakery brands and will expand its outlets in states where the company currently has a strong clientele and also in tier 2 cities.
"We are happy to announce OCPL's entry into the franchise model of our bakery formats - The French Loaf and Le Chocolatier. We see a rich potential in the market and expansion will help us further increase our market share. Of the 50 outlets, 10 will be company owned and the rest will be franchise run formats," said Narendra Malhotra, CEO, Oriental Cuisines.
The French Loaf is the largest bakery chain in the country. It offers premium products ranging from snacks, savouries, pastries, breads and quick snack meals at affordable prices.
Le Chocolatier, a standalone chocolate boutique, offers premium chocolates which are imported from Belgium to meet the international standards and customer expectations.
Apart from these, Oriental Cuisines owns Benjarong, Teppan, Ente Keralam, China Town, Z The Tapas Bar & Restaurant, Wang's Kitchen, Planet Yumm, Kebab House and Hotel Oriental Inn.
The company has started franchising its bakery brands and will expand its outlets in states where the company currently has a strong clientele and also in tier 2 cities.
"We are happy to announce OCPL's entry into the franchise model of our bakery formats - The French Loaf and Le Chocolatier. We see a rich potential in the market and expansion will help us further increase our market share. Of the 50 outlets, 10 will be company owned and the rest will be franchise run formats," said Narendra Malhotra, CEO, Oriental Cuisines.
The French Loaf is the largest bakery chain in the country. It offers premium products ranging from snacks, savouries, pastries, breads and quick snack meals at affordable prices.
Le Chocolatier, a standalone chocolate boutique, offers premium chocolates which are imported from Belgium to meet the international standards and customer expectations.
Apart from these, Oriental Cuisines owns Benjarong, Teppan, Ente Keralam, China Town, Z The Tapas Bar & Restaurant, Wang's Kitchen, Planet Yumm, Kebab House and Hotel Oriental Inn.
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