Secret Receipe Secures Master Franchisees To Operate In Cambodia, India

KUALA LUMPUR, Dec 20 (Bernama) -- 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. To date, it has more than 211 outlets including in Australia, China, Brunei, Indonesia, Philippines, Singapore and Thailand. 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 (GDP) 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 on Monday, witnessed by the Deputy Minister of International Trade and Industry Mukhriz Mahathir. In Cambodia, Sim said the target location was Phnom Penh with the first cafe expected in April next year amid the country's GDP projected to grow at 6.5 per cent for 2012 and 2013. Meanwhile, Mukhriz said Secret Recipe's venture into India and Cambodia was timely amid the anticipated growth, demographics expansion and robust GDP trends and very attractive consumer markets in the two countries. "As franchise penetration to overseas markets is expected to grow between 10 per cent and 25 per cent next year especially among Asian developing countries. Countries in high gear like India and Cambodia are both on the radar screens of global companies and businesses looking for expansion," he added. -- BERNAMA Malaysia