Cocoberry to open 100 outlets in two years

With more and more Indian people becoming familiar with frozen yogurt, Cocoberry Restaurants & Distributors Pvt Ltd is planning to open 100 outlets in two years. At present, brand has 31 outlets in the country and looks forward to open a mix of franchise and company-owned stores. The brand is considering franchising in markets where it is not present.

Talking about the frozen yogurt industry, Rahul Deans, CEO of the company, says, “The industry is still at a nascent stage. There are barely 75 outlets across India, across 20 odd brands, of which we have 31. The category has seen a lot of churn. After a large number of players entered the market in 2012, several have exited or scaled down their ambitions, but new players have entered. I expect the frozen yogurt category to show strong growth over the next few years, as the market is simultaneously seeing high growth of several enabling factors like the continued double digit growth of the overall ice-cream and frozen desserts category. Though we are the category leader, we expect to double our outlets over the next year.”

He further shares, “There is an ongoing shakeout in this category and customer acceptance is reaching a tipping point, at least in the main markets like NCR and Mumbai.”