French bakery chain Brioche Doree on Saturday forayed into India with the launch of its first store in Connaught Place, New Delhi. Brioche Doree has partnered with HR Bakers – launched by sweets and snacks manufacturer Haldiram’s managing director Ashish Agarwal – for its first store, the company said in a statement.
“Internationally acclaimed Parisian French Bakery Brioche Doree launched its first exclusive store in India today with HR Bakers at Connaught Place, New Delhi,” the company said.
Agarwal has signed a master franchise agreement with Brioche Doree and has invested around Rs 4-5 crore in it.
Brioche Doree is known to be the second largest bakery/cafe chain in the world. The store of the brand in India has been curated in 100% vegetarian avatar, it said quoting Agarwal.
The company expects to have four additional outlets in the National Capital Region and other markets in the first year of business, said Agarwal.
The company is open to have more such partnerships with different brands, he said.
Haldiram’s was among the contenders, in December 2018, to bid for revival of Bengaluru-based troubled food and beverages brand Maiyas.
Maiyas is accused of allegedly cheating private equity investor Peepul Capital of more than Rs 140 crore for which Police last month reportedly registered a cheating and criminal conspiracy case against the company founder Sadananda Maiya, his wife and son and two others.
In November last year, US-based cereal maker Kellogg was reportedly looking to forge partnership with Haldiram’s to expand into ethnic snacks and sweets segment, ET Now reported. Haldiram’s was also looking to raise around Rs 2, 500 crore in June last year.
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Source: Financial Express