Costa Coffee may end franchisee arrangement with Indian partner Devyani International
Michael Chen
Senior Web Developer
British coffee retail chain Costa Coffee may end its 'exclusive' franchisee arrangement with Devyani International after the Indian partner refused to commit more investments in a slowing economy to a business that has not yet turned in net profits.
Costa Coffee, which entered India in 2005 through an exclusive deal with the Ravi Jaipuria Group firm, is likely to appoint other franchisees as well to grow the business rapidly, two people aware of the move told ET.
Global brands that run businesses through franchisee operations earn 3-6% of revenues as royalty for using the brand, and hence push for higher revenues.
An official close to the firm also said Santhosh Unni, CEO at Costa Coffee India, has put in his papers, but the resignation has not yet been accepted.
Saurabh Swarup, the UK company's marketing head for Middle East & North Africa (MENA), Southeast Asia and India, too has exited as his contract had ended, the person said ..
Source: economictimes.indiatimes.com/articleshow/31298176.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
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