PETALING JAYA: Loob Holding Sdn Bhd, the founder of Tealive tea beverage brand, aims to open 140 branches in three cities in India - New Delhi, Mumbai and Bangalore in the next five years.
Chief executive officer Bryan Loo said the plan will be implemented through the appointment of World Iconic Brands Hospitality Pvt Ltd (WIB) as the master franchisee of the brand in the country's market.
"For the first year of operation in India, we aim to open 15 branches, with the first branch to be opened by August," he said at the signing of master franchise agreement between Loob Holding and WIB here yesterday.
WIB is a specialised franchise development company in India and majority owned by Franchise India, Asia's largest integrated franchise service company.
He said India offers great potential for the company as it is a country of tea lovers.
Cooperation with WIB will cement Tealive as Malaysia's first bubble tea brand entering the Indian market.
"We chose the best collaborating partner, as WIB is owned by Indian Franchise that has a record in the franchise business for over two decades," he said.
WIB founder Gaurav Marya said the total tea production in India in 2016 was 1.27 tonnes and it has increased to 1.28 tonnes last year.
"We believe Tealive has great potential in India because tea is not strange to Indian people. This brand is ideal to be introduced to modern tea culture in India whereby tea has become a tradition," he said.
Bryan said India was the second overseas market to the company explored for Tealive brand after Vietnam.
The company now has five branches in Vietnam and aims to open 25 more branches by the end of this year.
"Apart from Vietnam and India, we will also open a branch in Melbourne, Australia next month," he said.
For the Malaysian market, the Tealive now has 175 branches and serves 2.5 million customers each month.