Keventers, an exclusive milkshake brand, on Thursday announced its expansion plans and targets to open as many as 32 stores in the city.
The brand, founded by Swedish dairy technologist Edward Keventer, has 170 outlets across the country with three existing ones in the city in Forum Mall, GVK One and Inorbit Mall. While over 15 outlets would be opened in the next few months, the rest would be set up by the end of 2019.
Company chief executive officer Sohrab Sitaram said the brand was looking to sell around 5,000 bottles every Sunday. Explaining the business model, he said Keventers owns about 20% of the outlets in the country, while the rest were franchises. He said the capital expense for each store was between ₹13 lakh and ₹18 lakh.
Mr. Sitaram said the Keventers’ turnover last year stood at ₹32 crore, while it was ₹75 crore this year.
The brand offers milkshakes in 35 flavours which are priced between ₹99 and ₹250. These milkshakes are served in unique bottles that are designed to reflect the history of each city where the brand has its presence. For example, in Hyderabad, the bottles have the image of its most recognisable landmark – the Charminar. Apart from the city, Keventers has plans to expand its operations to Visakhapatnam.
