Blue Tokai Coffee Roasters, an Indian specialty coffee chain, reported a significant 70% increase in sales, reaching Rs 127 Cr in the fiscal year ending March 2023. However, the company's losses widened to Rs 43 Cr as costs surged by 84%, primarily due to raw material, staffing, and property expenses. The expansion drive added 38 new stores, bringing the total to 92 outlets, with plans to open 200 more in the next three years, fueled by a recent $30m funding round. Despite rising competition and losses, the domestic coffee shop market in India is attracting substantial investment, with peers like Third Wave Coffee and abCoffee also expanding rapidly.
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