Premium| Listen to this article |
NEW DELHI: K Hospitality-backed casual dining brand Copper Chimney restaurants will open 50 new outlets in the next five years across India and other parts of the world.
The company behind the restaurant, K Hospitality under its subsidiary Charcoal Concepts in which Copper Chimney is housed, intends to fund the project through internal accruals and debt. K Hospitality also runs popular restaurants and pubs like The Irish House and Bombay Brasserie as well as its airport fast-food chain under the Travel Food Services brand. Copper Chimney is a contemporary Indian food restaurant.
The company will focus on the north Indian market to begin with, said its executive director Karan Kapur.
Starting with CyberHub, Gurgaon, the outlet scheduled to launch in April 2022, the brand is working towards opening 50 new outlets across India, the Middle East and the UK by 2027. It presently has 17 outlets across Mumbai, Chennai and Karnataka. It also has five delivery kitchens.
"The plan had been to scale the brand before the pandemic struck. Covid has set us back a little, but we are on track now. We will use a mixed format to grow, including company owned and operated stores as well as a few franchised ones," he said.
Within the country, the company will open 10 new outlets across northern India in the next three years. These will include both restaurants and cloud kitchens. The first outlet is coming up in Cyber Hub in Gurugram.
The immediate focus will be on the NCR region, and to scale-up in the existing metro cities like Mumbai, Bangalore & Chennai, Kapur said. Following this, international expansion plans will include entering new countries with master franchises like in the Middle East in Saudi Arabia and other large markets.
Kapur added that Copper Chimney is still deriving 30% of its total sales from home delivery, in the locations that it is present in. He said the company’s growth plan includes scaling the existing leading brands and establishing the Indian QSR brand 'Joshh’ further and to make it one of the top five QSR brands in India in the coming decade.
National Restaurant Association of India said Delhi NCR is the ‘restaurant capital’ of India with the highest number of restaurants in the country. There are about 95,187 eateries in Delhi. Out of this, 32,777 are organised (with FSSAI number and GST). The association also said that in FY 20-21, the size of the restaurant industry declined by over half -- from around ₹2,00,762 crore that year versus ₹4,23,624 crore in FY 19-20. The industry body had hoped for a steady recovery but saw only one quarter of good business between October and December 2021.
The country's food services market was estimated at ₹4,236 billion in FY20, brokerage firm Edelweiss said in a research note citing data from Technopak. As of FY20—organised quick service restaurant chains had a market size of ₹348 billion.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!