Coffee chain Barista has joined hands with Corner Bookstore (CBC), a company promoted by one of India's largest publisher D C Books, to open a chain of bookstores at select Barista outlets all over India.
"Books and coffee are complementary to each other...this is a part of ongoing consolidation phase of Barista. We hope to get good response from our customers," Yogesh Samant, CEO of Barista Coffee, told PTI in New Delhi.
With a turnover of over Rs 50 crore (Rs 500 million), Barista has 3 outlets in Dubai and Sri Lanka each, besides over 120 outlets in India covering all metro and large cities. The company is also contemplating opening more outlets overseas.
Asked whether the company would restrict the alliance with CBC to books only or it would be extended to other products like music, Samant said, "CBC will also dedicate some place to the music but main focus will be on books."
Ravi Deecee, CEO of D C Books, said both Barista and CBC would undertake a co-promotion of the new look at Barista.
Samant refused to disclose the commercial terms of the alliance but indicated that they (Barista) would be getting some financial compensation for letting out part of the outlet for books and music section.
CBC would be investing upto Rs 10 lakh (Rs 1 million) on each outlet, depending upon the space they get from Barista, Deecee said, adding, "This alliance will give the company an opportunity to extend its presence all over India.
D C Books has a turnover of Rs 20 crore (Rs 200 million) annually.
