PVR Inox, the prominent multiplex chain, has forged a strategic partnership with Devyani International Ltd, the franchise holder for Costa Coffee, to offer high-quality coffee at designated premium locations.
“PVR INOX Ltd has entered into an arrangement with Devyani International Ltd on October 4, 2023, for introducing Costa Coffee’s handcrafted hot and cold coffees at some of the Company properties,” PVR Inox said in a regulatory filing.
In a similar filing, Devyani International Ltd (DIL) said it has entered into an arrangement with PVR INOX, for introducing Costa Coffee’s handcrafted hot and cold coffees at some of the PVR INOX properties.
Costa Coffee, a British coffee chain brand under the ownership of Coca-Cola, is extending its footprint in the Indian market.
Devyani International Ltd (DIL), the master franchiser, is pursuing an “accelerated expansion” strategy and has inaugurated 57 new stores during FY23, increasing the total store count to 112. The primary focus of this expansion is on metropolitan and tier 1 cities, where the coffee culture is flourishing.
In response to this development, Abneesh Roy, Executive Director of Nuvama Institutional Equities, mentioned that PVR INOX will be launching Costa Coffee outlets in their upscale properties.
“Given that hot beverages till now have been a small business for PVR INOX, we see this as an attempt to make it bigger. We see this as another move by PVR to premimise and diversify its F&B offerings to consumers and maintain BUY on PVR. PVR already is one of the large F&B retailers in India,” he said.
