Village Food Courts Pvt. Ltd and Zing Ventures Pte Limited announced a joint venture worth USD $4.00 million to establish Virtual Food Halls (VFH) in India, an official statement highlighted.
Virtual Food Halls are a hybrid of a food hall and delivery kitchen that looks to empower Food & Beverage (F&B) and restaurant brands to thrive in the increasingly virtual and digital marketplace. They offer both a physical and virtual marketplace for F&B brands combined with multi-brand delivery kitchens and catering solutions allowing F&B brands to leverage on both the increasing demand for delivery whilst still offering multi-brand dine-in experiences for customers.
VFC is an established food court operations company that is a leading F&B platform in India offering multiple branded food formats within shopping centres and on major highways. VFC has entered into multiple agreements with shopping mall developers to establish food courts and other entertainment venues led by associate companies under Village Groupe.
ZING operates a “Kitchen as a Service” (“KaaS”) platform that allows third party F&B brands to seamlessly participate in their Digital Food Halls. Presently, it operates in multiple locations in Malaysia, which equates to hundreds of virtual restaurants in its system. ZING has set its sights to be the market leader in Southeast Asia with immediate plans to penetrate the Singaporean and Indonesian markets over the next two years.
Suraj Arora, Managing Partner, VFC, commented on this and said “To create an immediate impact, we plan to launch at marquee shopping malls in Bengaluru, Chennai, New Delhi – NCR, Mumbai, and Pune, followed by neighbourhood centres in these cities. These cities are major hubs for innovation and the ideal markets for testing market acceptance and together with ZING, we look forward to building the largest hybrid platform for scaling F&B brands.”
Ehon Chew, CFO, ZING, says “We will begin by bringing the existing Partnering Brands from our Malaysian portfolio, such as Tail & Fin Poke, Canning Heritage Halal Dim Sum, Wings of the World, Mikey’s Original New York Pizza, NY Burger Co., Ginger Thai Express, House of Malaya, Mr. Fish Seafood Noodle and Royal Wings, amongst others, to India. In the future, once we have onboarded local brands from India, we could then bring those brands from India to the Southeast Asian markets. This is what we refer to as our ‘cross pollination’ strategy; not only a great way for consumers to experience authentic food from all over the world, but it is also a great way for our Brand Partners to grow internationally!”