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The company has developed a customised Internet of Things-based tea-making machine, ’Chai Monk’
Chaayos, the tea-centred cafe chain, is expanding by opening around 300 outlets in the next five years.
It is planning to launch an Initial Public Offering (IPO) of equity and going abroad.
The company has appointed Ajay Kaul, former Jubilant Foodworks’ chief executive officer (CEO) as chief advisor.
The company says it hopes to replicate the success of Domino’s Pizza under Kaul. Currently, he is a senior director at Everstone Capital.
The company has developed a customised Internet of Things-based tea-making machine, ‘Chai Monk’. It has deployed these in seven cafes and plans to place it at all cafes by the end of the year. The company has plans to partner corporates.
The company has around 50 outlets. Last year, the company went on an expansion spree, opening 25 stores.
According to company’s CEO the company would be making an operating profit by the end of 2018-19.