Japan's Impact HD opens Coffee Day convenience store in India
NEW DELHI, NNA - Japanese consulting firm Impact HD Inc. has opened a convenience store in Bangalore under the brand of India's Cafe Coffee Day.
Coffee Day Econ Pvt. Ltd., a local unit set up in March to operate the upscale Coffee Day essentials convenience store business, launched an outlet in Madhavan Park last Friday after transforming a Cafe Coffee Day shop.
The local unit is a 100 percent subsidiary of Coffee Day Consultancy Services Pvt. Ltd., which is owned 51 percent by the Coffee Day Group and 49 percent by Impact HD.
The premium convenience store chain is targeting upper and upper-middle income classes of about 350 million people, or 25.9 percent of the total population in Asia's third-largest economy after China and Japan, the Japanese firm said.
The Tokyo-based company said in June that it plans to convert 425 Cafe Coffee Day outlets into premium convenience shops and kiosk stores in the first year starting this month.
The number of Cafe Coffee Day stores stands at about 2,700 across the country, said the company, which is led by a president and some executives who formerly worked for Seven-Eleven Japan Co., Japan's largest convenience store chain. (NNA/Kyodo)