British coffee chain Costa Coffee hopes to expand its Asian reach with the opening of three new outlets across Southeast Asia.
The UK coffee retailer unveiled a new outlet in Singapore on 10 August 2012 to begin its Asian expansion and will followed by stores in Bangkok, Thailand, and Phnom Penh, Cambodia in November 2012.
Costa Coffee managing director Christopher Rogers was quoted by Fox Business as saying that this is the start of a significant store-opening program across Southeast Asia in the next few years.
The retailer is also looking to operate 300 outlets in India by 2015.
The proposed new outlets will be opened in cities such as Chennai, Hyderabad and Punjab through the Jaipuria-promoted Devyani International, reported The Economic Times.
The UK retailer, currently, operates 100 outlets in India and has outlets in international locations such as Bahrain, Kuwait, Qatar, Russia and the United Arab Emirates.
Costa Coffee chief executive officer Santhosh Unni said that the company will continue to expand but faces the challenge of inflated real estate prices.
Despite the economic downturn, the coffee format is working successfully as it requires smaller format stores compared to restaurants, Unni added.
Costa Coffee now has more than 2,200 stores across 25 countries, including more than 1,400 stores in the UK and almost 200 in China; the retailer plans to increase its outlet count to 3,500 by 2016.