Singapore-based Italian fast food chain PastaMania is expanding its operations in the Indian market with plans to set up 50 outlets by 2012 with an investment of Rs 40 crore.The company's Indian master franchisee, Essence Retail Ventures has entered into a joint venture with retail solutions provider Franchisee India Holdings for setting up its footprints in India, PastaMania said in a statement.The JV company, PastaMania India, would be a 50-50 partnership between Essence Retail Ventures and Franchisee India Holdings.
"We have started with one outlet each in Gurgaon, Pune and Ahmedabad. PastaMania has huge plans of expanding in India, with the target of 50 stores in metros and mini-metros by 2012 at an investment of Rs 40 crore," Essence Retail Ventures Director Abhay Bengeri said.
He said the company is aiming for a turnover of Rs 120 crore once all outlets are operational by 2012.The new JV would focus on the metros and Tier I cities for its expansion."Our aim is to fill the gap in the Indian market due to the lack of an outlet that specialises in pasta, beyond other Italian preparations like pizza and garlic breads," Bengeri said.
The PastaMania India outlets would come in two formats. While the large format stores would have an area of 1,800 sqft, the small format stores would be of 1,300 sq ft in size.PastaMania at present operates a chain of outlets in various South-East Asian and Middle-East countries including Singapore, Indonesia, Malaysia, Dubai and Kuwait.