Mumbai: England-based Chinese food chain YoYo Noodle plans to invest 25 million pounds (over Rs 210 crore) over the next five years to open as many as 200 outlets in the country.
    
The first outlet is likely to be launched by Diwali in the city. The company has partnered with city-based One Network Consulting for its foray into the Rs 5,500 crore domestic quick service restaurants (QSR) market under 'YoYo Noodle India' brand and is targeting to set up as many 200 stores across the country over the next five years.
    
"With Chinese cuisine being so popular here, we are set for a great start. We are in the process of picking our key franchise partners and hope to have 200 stores in the next five years," YoYo Group founder Eric Ho told over the weekend.
    
He also claimed that this could generate over 2,000 jobs. The company is also evaluating setting up its own unit to manufacture packaging and merchandise items. "We are in discussions to set up our own plant, which will manufacture packaging materials, sauces and merchandise.

This is the second phase of the plan, before that we want to establish our brand," One Network Consulting MD Anuradha Makhija said. The plant will receive an investment of about 20 million pounds (about Rs 160 crore) to be funded by YoYo Noodle India, she said, adding another 5 million pounds will be spent on marketing and branding.
    
"The plant will also help us make India the central hub globally for exporting sourcing and merchandise. We are aiming for 50 million pounds (over Rs 420 crore) revenues from here in the first five years," Ho said.

(Agencies)

Latest News from Business News Desk