Wai Wai City To Open Around 500 Outlets In India By 2020
Wai Wai City is a noodle bar chain based in Nepal and currently has 30 outlets in India. However, according to a report by Live Mint, this is going to change soon. The company, CG Corp that owns the noodle chain is planning to expand bug time in India and open around 500 outlets by 2020.
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CG Corp has been toying with the idea of expansion in India for a while now and ultimately started working on it three years ago said Varun Chaudhary, managing director of CG Speciality Restaurants told Live Mint. He also said that the new outlets of Wai Wai City will be opening as franchises and each of these will be investing between Rs.15 to 20 lakh and a year will be given to break even.
Chaudhary further told the media that the firm has 27% share in the India’s instant noodle market will be investing Rs.250 crore in the coming three years. The aim of the company is to have a revenue of Rs.1000 crore by 2025. “We are stepping up on our investments in the country for manufacturing and food,” said Chaudhary.
Besides the expansion of the Wai Wai City, the company, CG Corp is also planning to invest in the setting up of food parks reports Live Mint. An investment to this regard has already been made by the company in North India along with signing a memorandum of interest for establishing a food park in the state of Uttar Pradesh.
Image Source: Wai Wai City