Resto bars to drive Speciality Restaurants’ growth

Speciality Restaurants is poised for a major makeover with founder Anjan Chatterji’s son Avik leading the drive to attract youths to its resto bars.

Speaking to TOI, Anjan Chatterji said existing brands — Café Mezzuna, Hoppipola, Zoodles and Gong — along with a couple of new ones — Episode and Hay — would lead the Speciality Restaurants’ growth story in the years ahead.

“With 50% of the Indian population below the age of 25, we have to cater to them or risk becoming irrelevant. While we will continue to offer a fine-dining experience to families and make occasions memorable, we will have to create restaurants that are younger and easier to attract those above 21. The 20+ youngsters don’t want to go out with their parents except on special occasions. Instead, they love to hang out with friends in a fun place that offers beverages and finger food. In the next 24 months, this segment will contribute 35-40% of the group revenue, up from 18-19% at present,” said Chatterji.

In 2018-19, Speciality Restaurants recorded a turnover of Rs 346 crore, an increase of 17% over 2017-18 when its revenue stood at Rs 297 crore. Liquor sales contributed to 16% of the revenue, primarily from the 14 Hoppipola outlets, and Chatterjee expects the contribution to grow significantly as Hoppipola, Episode and Hay expand rapidly.

At present, Mainland China restaurants contribute around 50% to the company’s revenue. “The group will continue to focus on offering five-star food and service at a price point that is not five-star,” added Chatterji.

With the new initiatives, the average age of patrons at Speciality Restaurants is set to decline from 28 years now to 24 years in two years.

The first Episode — Episode One, a premium resto bar with tap-tails (cocktails off the tap) will open in Kolkata, followed by Mumbai, Delhi and Bengaluru. Also, the first joint of the Hay, a micro-brewery, will be in Kolkata, followed by a roll-out in other metro cities.

“We wanted to create a self-evolving all-day brand that could shape into tomorrow’s trends, hence the Episode series. The brand is a mix of nostalgia and lifestyle,” said Avik Chatterji.

Speciality Restaurants is also venturing into Indian Mughlai food with a new brand Riyasat whose first outlet will be launched in South City Mall. “Riyasat is about Royalty inspired Indian food,” Chatterji explained.

Chatterji is also set to finally realize a long-cherished dream of opening a Bengali cuisine restaurant in London. To be called Chourangi, the restaurant based in London’s Oxford Street will serve Kolkata Bengali cuisine with the menu adapted from Oh! Calcutta.

The group has restaurants in Doha, Colombo, Dhaka and Tanzania.

Source:-https://retail.economictimes.indiatimes.com/news/food-entertainment/food-services/resto-bars-to-drive-speciality-restaurants-growth/69764911

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