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Global specialty coffee and tea company The Coffee Bean & Tea Leaf has signed a master franchise agreement with Ekaagra Ostalaritza Pvt Ltd to expand its presence in India.
In a statement, The Coffee Bean & Tea Leaf said it plans to launch 250 cafés over the next five years in a move that “underscores the brand’s commitment to establishing a strong presence in one of the fastest-growing coffee and tea markets in the world”.
The company said due to India’s rapidly evolving café culture and increasing demand for premium coffee and tea experiences, the market is primed for growth.
“We are delighted to partner with Ekaagra Ostalaritza to accelerate our growth in India,” says Yousif Abdulghani, Chief Development Officer.
“India’s dynamic coffee and tea market offers incredible potential, and Ekaagra Ostalaritza’s deep expertise and local insights make them the ideal partner. Together, we are poised to position The Coffee Bean & Tea Leaf as a key player in India’s thriving specialty beverage market.”
The Coffee Bean & Tea Leaf was founded in California, United States, in 1963. It was acquired by Philippines-based Jollibee Foods Corporation in 2019 and is headquartered in Asia. The company operates in more than 1200 locations across 20 countries.
The post The Coffee Bean & Tea Leaf to expand presence in India appeared first on Global Coffee Report.
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