Cookie Man evaluating Coimbatore
Australian Foods, the owners of Cookie Man India, is looking at an innovative product range to tickle tastebuds even as plans are afoot to enter 16 cities across the country by the end of this fiscal. “From snacking to gifting, the cookie category has evolved since we started operations six years ago. Fuelled by the changing demographics, there is more acceptance to our product range. This has prompted us to get cracking with our new store ventures,” Cookie Man president SBP Pattabhi Rama Rao told ET.The company will invest around Rs 15-Rs 20 crore over the next three years to open new stores in both metros and tier-II cities. Ludhiana, Lucknow, Jaipur will see the new stores opening by the end of this year. Australian Foods India is a joint venture of Cookie Man Pty of Australia, a US-based private equity investor Paracor, and Mr Rao. The comapany is pegging its growth on the increasing footfalls in malls across the country. This apart, it is mulling to set up its format stores in non-traditional set-ups like airports. “The the aroma of freshly baked cookies travel well in an air-conditioned, enclosed environment and, airports and malls are ideal since cookies are an impulse purchase product. We are aggressively tying up for space with the multiplying malls in India,” he added.
Cookie Man works on the franchisee model and currently operates 10 outlets through franchisees in Chennai, Bangalore, Hyderabad, New Delhi, Gurgaon, Noida, Mumbai, Kolkata and Indore. In south, we are evaluating places like Coimbatore and Mysore to expand our presence,” he added. On the revenue model, he said the franchisee rents the company’s proprietary Autobake oven and buys raw materials from it. While the franchisee invests in the retail space, the company undertakes the marketing.
