“TGIF has been accepted very well in major metropolitan cities across the country. There has been a great demand for more outlets from across the country. We will invest Rs 30 crore in setting up 10 new outlets to fulfill this growing demand for TGIF outlets,” Rajan Jetly, CEO, Bistro Hospitality, told media.
Bistro Hospitality will invest Rs 30 crore for these expansions and is hoping to see Rs 100 crore turnover next fiscal. The company had clocked a turnover of Rs 32 crore in the last financial year.
The new outlets will come up in cities including Kolkata, Mumbai, Chennai, Hyderabad, Pune, Goa and Chandigarh.
“Our brand has been restricted to being a metropolitan brand but Tier II cities are promising and offer a huge business opportunity. We intend to tap this opportunity in the near future and are actively looking at towns like Jaipur, Indore, Ludhiana, Calicut and Kochi for future growth,” Jetly said.
Bistro Hospitality is a master franchisee of TGIF in India. TGIF is a 40-year-old American casual dining chain and is the flagship brand of $24 billion US-based Carlson Restaurants Worldwide.