The Sri Lankan franchisee, FoodBuzz Private Limited for Singapore based international bakery chain, BreadTalk is planning to invest another Rs.150 million in the next twelve months to expand its chain of outlets in Colombo, said the Managing Director of ‘BreadTalk’ Sri Lanka.
“We expect to open three more outlets in the Western Province within a year from now with an investment ranging between Rs.40 to Rs.50 million per store. We have identified strategic locations and are waiting for approval from the relevant authorities to get started”, said Yatila Wijemanna in the sidelines of the opening of its second store last week at Park Street.
He said that with the opening of the three new outlets the company is expecting to generate 120 employment opportunities bringing the total number to above 200.
Explaining the business strategy of ‘BreadTalk’ he said “We compete on high end quality but not on the high end market”. Based on the standards of ‘BreadTalk’ Singapore, the outlets do not use LP gas yet all the cooking and preparation will be carried out only with electricity. Further each store is structured in a way that the customer could see an unusual large kitchen.
According to Wijemanna the initial investment of the venture had been Rs.400 million where they started their flagship outlet at Lipton Circus in a 3,000 square feet building 3 months ago.
‘BreadTalk’ is an international brand which has its presence in 17 countries with around 600 outlets in the Asia region within a short span of 11 years.
The company further is ambitious to expand out of the Western Province in the medium term.