The move would require between Bt91.5 million and Bt152.5 million, Fred Mouawad, chairman and CEO of GFA, said yesterday.

He said half of the new

outlets would be operated by franchisees. It would operate the other half.

Each branch requires Bt1.5 million to Bt2.5 million initial investment.

The company believes there is still room for Coffee World to grow although many locations are already occupied by its competitors.

It sees itself as being second to Starbucks Coffee in Thailand as well as globally.

It has steadily grown locally with shops in university campuses and shopping centres like Siam Square, targeting teens, students and shoppers.

It is now scouring for new locations. GFA is also marketing its brand with new campaigns every two months to remind customers of its products.

Yesterday it launched Espresso Creme mousse, billed as its first edible coffee.

It expects to sell 50,000 cups of Espresso Creme for Bt50 a serving.

Thailand was selected as the first country to launch the item as sales here are one of the highest

in the world for the firm, Mouawad said.

Espresso Creme will be launched next in India, Bangladesh and Dubai.

Globally, Coffee World has 135 branches. It aims to have 200 global outlets this year-end and 600 by 2010.

In Thailand, the company has six Pizza Corner outlets, six New York Deli shops, and four Cream & Fudge Factory branches.

It also plans to open two to three new bakery outlets this year.

Nitida Asawanipont

The Nation