Singapore-based BreadTalk Pte Ltd, a wholly-owned subsidiary of BreadTalk Group Limited, and India’s Bakekneads LLP, a member of the Som Datt Group of Companies, has earlier signed a franchise agreement to establish the BreadTalk bakery chain in Delhi and National Capital Region (NCR).
Under the agreement, Bakekneads will hold the master franchise to develop and operate the highly popular lifestyle bakery chain in Delhi-NCR. BreadTalk is expected to open its flagship store in Delhi by the 3rd quarter of 2018, boasting a wide range of products favoured by the Indian market. This partnership combines BreadTalk's strength in creative branding and product concepts with the extensive business network of Som Datt Group - an infrastructure and construction conglomerate in India.
Presently, BreadTalk's chain of boutique bakeries spreads across a network of 17 territories and it operates close to 1,000 outlets across key markets such as Singapore, China, Hong Kong, Indonesia, Thailand and the Middle East.
“India is a fast growing economy with rising opportunities in its retail sectors especially for Asian-style bakeries. At BreadTalk, we observed the changes in the Indian consumers' behaviour, consumption, and lifestyle trends and we identified these as strong growth indicators for our business in India,” said Tan Aik Peng, CEO of Bakery Division. BreadTalk’s team will be working very closely with its local partner Som Datt Group to ensure that it understands better the palate and needs of the Indian market.
Singapore’s mainboard-listed BreadTalk Group recorded a 91% increase in net profit for the financial year 2017 with sales revenue of approximately S$600 million (US$456.1 million).