Blue Tokai, an Indian coffee chain, has set a target to increase its annual revenue nearly three-fold by 2027, aiming for a total of 10 billion rupees ($118.5 million) before considering an initial public offering.
To take advantage of the growing coffee culture in India, especially among affluent consumers in major cities, Blue Tokai plans to expand its presence significantly. The company plans to open around 350 cafes in the next three years, including new locations in Hyderabad and Chennai.
Despite competition from other coffee chains like Costa Coffee, Starbucks, and McDonald"s McCafe, Blue Tokai remains confident in its growth strategy in the specialty tea and coffee cafe market, which is valued at $300 million. The company, which is supported by Belgian investment firm Verlinvest, currently operates more than 130 cafes across India.