November 2, 2011
Venky's India to open 100 outlets
India's Venkateshwara Hatcheries Group intends to spend INR2.5 billion (US$50.7 million) to launch 100 Venky's Xprs outlets across India and put up a research and testing facility in Hyderabad in the next three years, according to the Group Joint Managing Director B Venkateshwara Rao.
Venky's Xprs is a retail food chain venture of Venky's (India) Ltd, which is a wholly-owned subsidiary of V H Group.
The firm, which launched its second Venky's Xprs outlet in Hyderabad Monday, will fund the expansion through internal resources and banks, he said.
The group expects a break-even for the new initiative in 15 months.
"Right now, we are in an expansion mode, and are hopeful to break-even during that period," he added.
Rao further said that a fully-equipped centrally-controlled food testing laboratory in the city will keep a constant check on quality and hygiene of all Venky's Xprs outlets across India.
Besides, the firm's tie-up with the UK-based Campden BRI will ensure that Xprs gets access to the best food technologies and services.