Optimistic on the retail format, US ice-cream company Baskin Robbins has decided to opt for large-format stores for expansion in India and will invest Rs 10 crore over the next two years.
With an eye on the youth, the company's new stores will don a young and vibrant look and sport a new logo.
"The new outlets would sport a funky and vibrant look to attract young people, though maintaining our original colours. We will invest about 10 crore in setting up 20 outlets in this format over the next two years," Baskin Robbins CEO Pankaj Chaturvedi said.
The company is looking to follow the formats of fast-food major McDonalds and homegrown coffee chain Barista through its new outlets as it vies to be a favourite haunt for youngsters.
"The outlets would be completely re-designed according to the changing times," Chaturvedi said, though adding that Baskin Robbins will continue with expansion plans of its existing smaller outlets.
"We are planning to open about 50 outlets every year, of which ten would be the large-format ones," he said.
Baskin Robbins currently has 160 outlets in India and had sales of Rs 26 crore last year.
Chaturvedi said the company was expecting a 30-40 per cent growth this fiscal and sales were likely to be at Rs 32 crore.
Baskin Robbins has opened large-format outlets at Bangalore and Hyderabad.