UK's Yo Yo Noodle to Invest Rs. 210 crore in India over Five Years

 

England-based Chinese food chain Yo Yo Noodle is planning to invest 25 million pounds (over Rs. 210 crore) within the next five years in order to open as many as 200 outlets in India.

The first outlet is scheduled to be launched in Mumbai by Diwali 2014.

Yo Yo Noodle has partnered with Mumbai-based One Network Consulting for foraying into the Rs. 5,500 crore domestic Quick Service Restaurants (QSR) market under the name 'Yo Yo Noodle India' brand. It is targeting to set up as many 200 stores across the country over the next five years.

Speaking on this aspect, Eric Ho, founder, Yo Yo Group, said, "With Chinese cuisine being so popular here (in India), we are set for a great start. We are in the process of picking our key franchise partners and hope to have 200 stores in the next five years."

The company claims to generate over 2,000 jobs by setting up its own unit to manufacture packaging and merchandise items. "We are in discussions to set up our own plant, which will manufacture packaging materials, sauces and merchandise. This is the second phase of the plan, before that we want to establish our brand," said One Network Consulting managing director Anuradha Makhija.

She further adds that the plant will receive an investment of about 20 million pounds (about Rs. 160 crore) to be funded by Yo Yo Noodle India.