Tapping into the rapidly growing Rs 23,000 crore food and beverages retailing space, Dabur India’s vice-chairman, Amit Burman and two other promoters, have set up Lite Bite Concepts, a chain of quick-service restaurants and food courts.
The promoters plan to invest Rs 200 crore in the next 2-3 years for this venture.
Targeting a Rs 1,000 crore sales in two years of operations, the new venture will open around 200 outlets in malls, office complexes, highways, metros and other high-footfall locations across the country.
“Food and beverages retailing is a very attractive segment, and with Lite Bite Concepts we are targeting Rs 1,000 crore sales in a couple of years with around 200 outlets,” said Burman.
He said the company has tied up with Dubai-based Hot Brands International, which operates in multi-cuisines like Shamiana, Magic Wok, Santinos, Sala Thai and others, while it is also scouting for several new tie-ups with leading local and international brands.
“Our goal is to rapidly achieve critical mass by a mix of aggressive organic growth and judicious joint ventures and acquisitions. Exciting new ethnic and international concepts will be unveiled in the third and second quarters of 2007,” Burman stated.
He said the company’s own brand will be ‘Rapps’, a wrap-based sandwich-roll concept to be available across formats, ranging from quick-service restaurants, casual dining (CDR), express outlets and food courts.
With focus on NCR, tier II and select tier III cities, the company is expecting to launch its first outlet next month.
– Bangalore Bureau