K Hospitality Corp (India) to Focus on India and Overseas Expansion
06 Aug 2018 - Hospitality and food service company K Hospitality Corp is planning to expand its Copper Chimney and Bombay Brasserie brands under Charcoal Concepts verticals to 50 outlets in India and 20 restaurants overseas in the next three years.
"We are looking to aggressively expand our overseas presence under Charcoal Concepts that is working on bringing various new Indian food formats to the market, both in India and abroad, over the next three years. Currently, we have presence in Kuwait and Dubai with five outlets," K Hospitality Corp Director Karan Kapur told PTI here.
Copper Chimney is a contemporary Indian restaurant brand, while Bombay Brasserie is the eclectic all-day Indian eatery catering to younger audiences.
This expansion will all be with company-owned outlets as K Hospitality has bought out the franchise rights of Copper Chimney from Everstone Capital-owned Pan India Food Solutions.
Pan India Food Solutions was operating three Copper Chimney, Kapur added.
K Hospitality Corp is also looking at opening a new fast casual format overseas and the brand will be decided by the end of this year, he added.
Going forward, he said, the company is looking at presence in the Middle East and UK, with total 20 outlets.
In the domestic market, K Hospitality is eyeing 60 outlets mostly in Copper Chimney and Bombay Brasserie brands, he said.
"We are looking forward for aggressive expansion of Copper Chimney. We currently have 20 outlets under this brand. Overall, including all our brands we are looking at 60 out in pan India," he added.
K Hospitality Corp will invest Rs 1.20 billion to fund this expansion.
"We have outlined a capex of Rs 1.20 billion for this domestic as well as overseas expansion. These funds will be raised with a mix of equity, internal accrual and debt," Kapur added.