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Haldiram’s Inks Pact With France’s Brioche Dorée
Co's deal with a French firm is the first partnership by snacks firm outside the family
Snacks maker Haldiram’s has signed its first partnership outside the family and entered into an exclusive master franchisee partnership with French bakery cafe Brioche Dorée.
The venture with the world’s second-largest bakery chain is led by Ashish Agarwal, a fourth-generation member of Haldiram’s promoter family, through individual entity HR Bakers.
One Brioche Dorée outlet is already functional in Connaught Place in New Delhi. Another four are expected in the first year of operations, Agarwal said, and they could be located in the National Capital Region and other markets.
“This marks the first time Haldiram’s has tied up with a company outside the family. With Indian consumers experimenting with a lot more international cuisine and eating out growing at a rapid pace, we believe this is the right time to venture in this space,” Agarwal, the MD of HR Bakers, told ET.
The Brioche Dorée cafes will serve only vegetarian food, a first for the French bakery, said Agarwal. “We have redesigned and developed our products keeping the relevance to Indian palates,” he said. The products include croissants, breads, desserts, sandwiches, pastries, salads and other snacks.
“An investment of about ₹4-5 crore has been infused in the initial stage for getting the brand off the ground,” Agarwal said, adding that HR Bakers is open to exploring more synergistic tie-ups with other brands.
Brioche Dorée, which debuted in 1976 in Brest, France, was founded by entrepreneur Louis Le Duff and is positioned as a maker of freshly baked, urban French cuisine.
Groupe Le Duff has a global turnover of over €2 billion and serves more than a million customers every day, according to information posted on its website.
Brioche Dorée has a footprint of over 500 outlets globally, including in the US, Switzerland and China.
On speculation that Haldiram’s and US cereal maker Kellogg are exploring an alliance, Agarwal said: “There is no such plan.” “Multiple investors keep approaching us routinely — there is nothing in the immediate future on that front,” he added, dismissing reports that Haldiram’s is in talks with private equity funds for divesting a minority stake. Haldiram’s operates through three entities and is present abroad in the UK, the US and Japan, among other countries.
Image Source : The Siasat Daily
Source : The Economic Times
