As listed in forbes, Binod Chaudhary, the only billionaire of Nepal is planning to expand his company in India by swooping into quick service restaurant business.
His company CG Corp Global, Nepal’s largest private business enterprise, has establishes itself in New Delhi with choudhary’s youngest son as an Executive Director in the group, who has also relocated himself to Delhi.
The company which owns and operates more than 100 hotels in over dozen countries, including few joint ventures with Taj Group in South India. According to the latest survey the company’s Wai Wai noodles brand competes with Nestlé’s Maggi in India and controls 20 per cent market share.
“Our Wai Wai noodles brand is expected to double in three years. As an extension of this brand, we have decided to start our quick service restaurant business for Wai Wai,” Binod Chaudhary, Chairman, CG Corp Global.
These quick service restaurants will only serve Wai Wai noodles-based products. Initially they are planning 10 outlets in Delhi-NCR. The trial phase will start from Delhi then we will go pan India through different phases.
Chaudhary’s family hails from India and the group recently acquired a 51 per cent stake in India’s Fern hotel chain and is building new hotels there as well as in Africa and Dubai. His investments also include telecom and hydropower. His net worth as of Saturday was $1.31 billion.
CG Foods, which is the FMCG arm of the group, will invest Rs 200 crore in the foods business in India to scale up production of Wai Wai noodles and snacks.
CG Foods India has so far set up seven production facilities in India, from Assam to Andhra Pradesh, to supply the popular Wai Wai noodles, as well as fried snacks, wafers, and potato chips.The company plans to add four new plants in India to enhance its market share.Recently, the company roped in adman Prahalad Kakkar to devise an advertising strategy to popularize the brand across India among all age groups.
Zinc Journey, a brand of CG Hotels and Resorts, will be developing and managing high-end adventure, and cultural holidays in India. Another group firm CG Infra Global is planning to enter the engineering, procurement and construction business, he said.
CG has also created its start-up business arm which will be funding new startup ideas.
Waiting to see Wai Wai in every store in India!