BakeryBiz, Jan-Feb, 2020:

According to reports, Theobroma Foods Pvt Ltd, an ICICI Venture Funds-backed patisserie has set out on an aggressive expansion plan.

The company looks to multiply its sales fourfold over the next three to four years. “We plan to grow our sales to Rs 500 crore, the number of stores to 150 and our employee strength to 3,000 over the next three to four years. We are also looking to serve two million customers in that time,” said Rishi Gour, Chief Executive Officer, Theobroma.

Having started as a family run café in Colaba in 2004, the Mumbai-based bakery has grown to 50 stores with 1,000 employees across Mumbai, Delhi and Pune, and a top line of Rs 120 crore, according to Kainaz Messman, the founder of the firm.

The brand has a customer base of 500,000 customers, of which nearly 85 per cent are take-away customers, or orders online. The company operates across three store formats: Café, Express and Kiosks, offering over 200 items.