PRESS RELEASE

On the completion of 5 years of its investment in Yupaa, Capespan is proud of the success of their investment in Yupaa, India.  Yupaa, a renowned and reputed Indian name has shown year after year positive growth and Capespan has been able to contribute meaningfully to the success of this partnership.  The Karvat family holds 65% and Capespan owns the balance 35% in Yupaa. 

Since the joint venture in 2016, Yupaa has managed to grow its business profitably and improve on its financial stability and strength year after year despite various challenges.

The main challenges and hurdles affecting the Indian market over the past 5 years have been the sudden ban of Chinese apples and pears in 2017, the demonetization of the Indian currency, the changes to Indian GST regulations, high volatility of exchange rates, surging local and international costs in logistics, increased tariffs on American apples and, most recently, multiple challenges related to COVID lockdowns.  

Yupaa has consistently shown their resilience to overcoming these challenges, reinforcing the confidence of Capespan in its chosen partners. 

The chairman and founder of Yupaa Group, Mr Ambrish Karvat states “Yupaa has established an excellent operational and financial track record with the consistent generation of healthy profits. Yupaa is 100% self-financed and debt free which enables us to have no dependency on any external financing to manage our continued growth and to serve our customers.” 

“Our focus on the bottom line, conservative yet dynamic strategies, lean management and personalized attention to detail of all aspects of the business has made this possible. Our pulse on the market and strongly cemented relationships with suppliers and customers has played a vital role in our success”, says Parth Karvat, Executive Director of Yupaa. 

Tonie Fuchs, managing director of Capespan Group, concurred with Yupaa’s management:  “We were convinced that Yupaa and the Karvat family were the right partners for Capespan in the growing Indian market. Capespan is proud to be associated with the Karvat family. Yupaa has exceeded our expectations, both as a key commercial partner and as a strategic investment.”.