SynopsisSpecialty coffee chain Blue Tokai plans to triple its store count to 800 by FY30. The company aims to open 120 new cafes this financial year. Blue Tokai is also in discussions to raise at least $100 million in funding. Revenue is expected to grow by over 50% to Rs 8 billion this year. The firm anticipates becoming profitable by March 2028.AgenciesSpecialty coffee chain Blue Tokai plans to triple its store count to 800 by FY30Specialty coffee chain operator Blue Tokai is aiming to more than triple its store count over the next four years, as the Starbucks' biggest India rival doubles down on India's fast-growing premium coffee market, Bloomberg News reported on Wednesday.The company plans to expand its network from about 240 outlets to 800 by FY30, opening around 120 new cafes this financial year across major metropolitan centres while entering newer markets such as Ahmedabad and Lucknow, co-founder and chief executive Matt Chitharanjan told Bloomberg.Also Read: Third Wave Coffee will add over 50 stores, expand to new cities, CEO says"India is still fairly under-penetrated in terms of branded cafés," Chitharanjan said. "While it may seem from the outside that there's a lot of competition, there's still tons and tons of white space."Coffee consumption gathers paceBlue Tokai's expansion comes as India's organised cafe market gathers momentum, driven by rising disposable incomes, premiumisation and changing consumer preferences in urban centres.India's cafe market, valued at $425 million in 2025, is expected to nearly triple to $1.15 billion by 2034, expanding at an annual rate of 11.14%, according to research firm IMARC Group.Moreover, according to Mordor Intelligence, India is the fastest-growing specialty coffee market in the Asia-Pacific region, which itself is projected to expand at a compound annual growth rate (CAGR) of 8.03% through 2031. The region is witnessing strong adoption of specialty coffee, with China, Japan, South Korea, Vietnam and Indonesia also deepening premium coffee consumption, while urban Gulf markets continue to emerge as important growth centres.The aggressive rollout also comes amid intensifying competition. Starbucks, which operates in India through a joint venture with Tata Consumer Products, has outlined plans to add up to 100 stores annually to its existing network of more than 500 outlets, while homegrown chains such as Third Wave Coffee, Cafe Coffee Day and Barista continue to expand.Also Read: Indian coffee chain Blue Tokai targets three-fold revenue before deciding on IPOSeparately, Mint reported that Blue Tokai has begun preliminary discussions with private equity firms including TPG, Temasek and ChrysCapital to raise at least $100 million. The proposed funding round is expected to comprise both primary capital and secondary share sales, with valuation discussions still at an early stage, according to people familiar with the matter.The Bloomberg report said that the company expects revenue to grow by more than 50% to Rs 8 billion this financial year after expanding nearly seven-fold over the past four years. Backed by investors including Verlinvest, Blue Tokai is also considering an initial public offering within the next five to seven years and plans to raise an additional Rs 1.5 billion before funding future expansion internally.The company is set to open its first international outlet in Dubai next week, even as it navigates higher coffee prices, supply chain risks and rising employee and real estate costs.Chitharanjan said the company expects to turn profitable by March 2028, adding that a denser store network would help improve operating efficiencies."The advantage of coffee is that it's a very habitual thing," he said. "One of the reasons that people come to us is because they like the quality of the core beverage that we have, and that's kind of what they stick to."Read More News on...moreless