Unify Foodworks to invest Rs 40 crore to open 100 outlets of American soft serve brand Carvel
, one of America's legacy brands known for soft serve, has tied up with
Unify Foodworks
to enter the
Indian market
in August with its first store opening in New Delhi, Sumer Sethi, founder, Unify Foodworks told ETRetail.
Unify Foodworks, which holds exclusive master
franchise
rights for Carvel in India, plans to launch 100 stores over the next 5 years with an
investment
of Rs 40 crore.
"We are eying to capture 7-8 per cent market share of soft serve ice creams over the next 5 years," he asserted.
"In my experience, what works in India is when a brand owns a category. It's very difficult to dislodge that kind of loyal consumer recall. That's why we decided to bring a soft serve brand to India. Carvel has its patented recipe that can produce the freshest form of ice cream in-store," he further explained.
The brand, which plans to open 50 stores in phase 1 concentrated in and around North India, will be offering 32 SKUs.
"The average size of the store will span across 300 sq.ft, and all the offerings have been competitively priced as we are targeting the masses," he stated.
The brand is expecting stores to reach the breakeven point in the 18-24 months of operation.
"From our second year of operations, we plan to enter online as well," he said.
The brand is eyeing to open 5 stores by this fiscal year's end.
Currently, Carvel has a presence in over five countries with more than 400 stores.
Going ahead, Unify Foodworks also plans to introduce Rubio's Coastal Grill in India by this fiscal year's end. It will be renamed as Moe's Casa Mexicana.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
30 minutes ago
- India.com
Gautam Adani's BIG move, to spend Rs 960000000000 in…, what's business plan for next 5 years?
Adani Group's Airport Business Expansion: The Adani Group is aggressively expanding its airport business, with plans to invest nearly Rs 1 lakh crore over the next five years. The group, led by billionaire Gautam Adani, operates seven airports in India, including the Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai. The Navi Mumbai International Airport is expected to be added to this list by October this year. Investment Strategy For Next Five Years Jeet Adani, 27-year-old son of Gautam Adani and head of the group's airport business, told the Times of India that the company has laid out a five-year plan involving investments of Rs 95,000–96,000 crore across airport infrastructure and real estate development. 'The majority of this investment will go into the Navi Mumbai and Mumbai airports, as well as real estate developments in both locations,' Jeet Adani said. Adani Group New Terminals Plan Adani Group also has plans to build new terminals over the next four years in cities like Ahmedabad, Jaipur, and Thiruvananthapuram, while the recently built terminal in Lucknow will be expanded. A new terminal in Guwahati is already ready and expected to become operational by October–November this year. Jeet Adani clarified that the group has no plans to expand abroad for now. 'We see tremendous opportunities within India and don't want to dilute our focus. At the end of the day, it's about our management bandwidth and where we want to deploy capital. India is poised for significant growth over the next 10–15 years,' he said. He also noted that 26 airports in India have already been identified for development under the Public-Private Partnership (PPP) model. Investment In Navi Mumbai Airport Adani Group has merged Phase 1 and Phase 2 of the Navi Mumbai International Airport (NMIA) project. Instead of launching with a 1 crore passenger annual capacity (CPA), it will now begin operations with a 2 crore CPA. The airport is being developed with an investment of Rs 19,000 crore, and work on Terminal 2 has already begun.
&w=3840&q=100)
Business Standard
30 minutes ago
- Business Standard
India-US trade deal: Exporters in a fix over possible tariff cost split
Begin talks with buyers, particularly for goods arriving at US ports on or after Aug 1 premium Shreya Nandi New Delhi Listen to This Article Indian exporters have begun engaging with American buyers to discuss how a potential additional tariff burden would be split if New Delhi faces a 26 per cent reciprocal tariff in case an interim trade deal is not finalised by August 1. Currently, a 10 per cent ad valorem tariff, over and above the existing most-favoured-nation (MFN) duty, continues on American imports. However, from August 1, the US administration is set to impose steep, country-specific reciprocal tariffs on its trading partners. The discussions are particularly critical for goods that have already been shipped and will arrive at American ports on or
&w=3840&q=100)
Business Standard
30 minutes ago
- Business Standard
PM Modi's Zagreb trip spurs €1.1 bn Indian bids for Croatian projects
Prime Minister Narendra Modi's visit to Zagreb last month is prompting growing interest from Indian companies in major infrastructure projects in Croatia. Over the past week, Afcons Infrastructure Ltd submitted three bids for state railway and road-building projects in the euro area's newest member, worth 1.1 billion euros ($1.3 billion) in total. Another Indian company, a conglomerate led by Ashoka Buildcon Ltd, is also vying for the same railway reconstruction contract as Afcons. Croatian Prime Minister Andrej Plenkovic praised India's growing interest in maritime trade routes to the Mediterranean when he met his Indian counterpart in June to discuss mutual economic and defense cooperation. New Delhi is a relative newcomer to the Balkans where Beijing has invested heavily in infrastructure projects through its Belt and Road initiative. A Chinese consortium led by China Road and Bridge Corporation built a 2.4 kilometre (1.5 miles) Peljesac bridge, Croatia's largest sea bridge, that opened in 2022 and was paid for mainly using European Union funds. It helped connect the country's coastal territory and bypass a strip of Bosnian territory in a boost to transport and tourism. As part of the tender process, the Mumbai-based Afcons on Monday submitted the lowest bid in the railway reconstruction tender by HZ Infrastruktura, estimated at 620 million euros. It's one of the biggest railroad plans in Croatia's modern history, financed in part from EU funds. In the two other highway-building projects in southern Croatia, Afcons is facing competing bids from China Road and Bridge Corporation. Afcons bid 240.5 million euros and 214.4 million euros respectively. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
