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Monday, December 19, 2011

Secret Recipe secures master franchisees in Cambodia, India

KUALA LUMPUR:Lifestyle café chain Secret Recipe has secured master franchisees to operate its business in Cambodia and southern India by April next year.

Faba Global Group Co Ltd has been granted the master franchise to operate in Cambodia, while Secret Recipe South India Pvt Ltd will operate in India.

Secret Recipe Cakes and Cafe’s chief executive officer, Datuk Steven Sim said the business in India was expected to start in the third quarter of next year with target of 10 outlets by end of 2013.

The Indian market has a huge growth potential as its gross domestic product is expected to grow at 8.4 per cent in 2012 and 8.5 per cent in 2013, he added.

Sim was speaking to reporters at the international franchise signing ceremony yesterday , witnessed by Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir.

In Cambodia, Sim said, the target location was Phnom Penh with the first cafe expected in April next year. The country’s gross domestic product projected to grow at 6.5 per cent for next year and the year after.

Meanwhile, Mukhriz said Secret Recipe’s venture into India and Cambodia was timely amid the anticipated growth, demographics expansion and robust gross domestic product trends and very attractive consumer markets in the two countries. Bernama

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