Dubai: UAE-based Abbasi Group will open three outlets of Coffee Bean and Tea Leaf in Mumbai early next year, marking the group's entry into the Indian market.
The Mumbai launch will be followed by new coffee shops in Pune and Bangalore, chief financial officer Jayant Gandhi told Gulf News.
Gandhi said the company is also taking the Coffee Bean brand to Bahrain, Qatar and Oman.
Abbasi Group holds master franchise rights for the Singaporean-based coffee chain for several Middle East countries and India.
It is launching Coffee Bean in India in a joint venture with Indian hotelier SK Jatia Group.
Coffee Bean operates five stores in Saudi Arabia and five in Kuwait under sub-franchise agreements.
Market demand
Vikas Sandhir, Coffee Bean's operations manager for the UAE and Middle East, said Saudi Arabia will have six more outlets and Kuwait three more by the end of 2007.
In the UAE, the number of Coffee Bean shops will increase from 12 to 17 in a year.
"We have been operating this brand for five years. We are expanding in the Gulf under sub-franchise agreements, while in India it is a 50-50 partnership," Sandhir said.
"With the Indian economy booming, the Coffee Bean business model fits with market demands. This is the best time to be in India," he added.
Abbasi aims to develop and operate Coffee Bean outlets throughout India, with the next phase expansion planned for New Delhi.
In other businesses, Abbasi has restructured its real estate interests by creating three divisions under an umbrella company named Bonyan Holding.
Bonyan Emirates Properties will be responsible for property developments backed by Ejaad Project Management and Mustadam Facilities Management.
Ejaad is a venture with Malaysian architecture firm Veritas and Mustadam operates in partnership with Singaporean facilities management company SMM.
Abbasi Group chairman Esmail Akil Abbasi said yesterday Bonyan will launch five new residential and office buildings in Dubai located in Business Bay, Culture Village, Dubai Silicon Oasis and Al Barsha.
