After raising good amount of $20 million of capital in Series C funding round in April, India’s largest organized tea retail chain Chai Point today launched its 100th store in Indiranagar, Bangalore. Mr Priyank Kharge, Minister of Social Welfare Development, Karnataka Government inaugurated the Store.
This store is a turning point for the company, which has managed to create a unique brand of tea stores across India. Located on 12th Main alongside other high-end restaurants, the 100th store boasts of a new look with a large open seating area which is accentuated with greenery. With the new store launch, the company is also making an effort to elevate the customer experience through design, technology and made-for-chai foods.
Read our featured story on Chai Point here.
Talking about the new store concept, Amuleek Singh Bijral, Co-founder and CEO, Chai Point, says, “The 100th store is an exciting milestone for us. It marks the beginning of a new and enhanced customer experience that we have built by incorporating our learnings from the last 7 years. From the store design philosophy to the new made-for-chai menu to billing which uses face recognition technology – everything has been designed to create a rich store experience.”
The store follows the brand’s new design philosophy which is aimed at creating a warm, authentic and progressive space for young urban chai lovers to meet and socialize. While the contemporary indoor space feels cozy and relaxed, the outdoor open area is lush with greenery to highlight the company’s Clean Earth commitment.
The store’s new made-for-chai menu is an interesting mix of authentic and contemporary foods. While Rajdhani cutlets and Tutti Frutti Bun Maska are traditional favourites, those who want to experiment can try Nawabi Chicken Croissant or Mathri with three beans masala – an Indian take on Mexican Nachos.
Chai Point’s loyalty program Prioritea will also be seen getting more tech savvy. Customers can now opt for a face scan to make their billing experience quick and seamless and get higher rewards and benefits. Using technology led innovations, the company aims to increase its loyalty customer base to 3 million in the next one year.
Chai Point is India’s largest organised brand in the INR 1.5 Lakh crore Chai market targeting 1 billion Indians. The average per capita consumption of the beverage is increasing at a steady rate of 20-30%. With the launch of its 100th store, Chai Point has evolved into a formidable player in India’s food and beverage industry where it will be competing with several international cafe chains.
In August 2016, Chai Point also launched a, IoT-based Beverage services platform boxC, to provide 100% authentic Chai and filter coffee at office pantries. The cloud based platform distinguishes itself by ensuring much higher level of transparency in both beverage quality, billing basis and service levels.
India is one of the world’s biggest tea consumer and Chai Point plans to double down on what is estimated to be a multi-million dollar market opportunity. Over the coming months, Chai Point will also face competition from the Tata Group, which has already launched its Tata Cha tea cafes and plans to aggressively ramp up.
In a competition to Chai Point, an another similar Tea-based startup — Chai Break, which is based out of Kolkata, had received Rs 5 crore angel funding from Venture Catalysts of Mumbai to expand outlets of its chains, mostly in Tier II cities.