New Delhi, Apr 14 (PTI) Impresario Entertainment and Hospitality, which operates the restaurant Chain ‘Social’, is looking to add 10 to 15 new brand outlets annually, especially in tier-2 cities, as part of its expansion plan, said its founder and MD Riyaaz Amlani.
The company, which also operates restaurant brands like Smoke House Deli and Mocha, remains bullish and optimistic about its growth in India, led by various factors, such as demographic dividend and increasing appetite for premium experiences.
“In the overall food services market, quick service restaurants (QSR) and casual dining restaurants (CDR) are the strongest lever of growth. Our trailblazer brand, Social, sits at the confluence of a cafe and a bar and comes under the CDR category, with immense potential for growth in this segment,” Amlani told PTI.
Impresario is planning to open 10-15 new Social outlets annually on the back of its experience. The company has seen a double-digit revenue growth this year (FY24) compared to FY23, he noted.
“We remain bullish and are optimistic about our growth in India, and will continue to expand Social to newer neighbourhoods in the coming year,” Amlani said.
Impresario has a network of over 60 restaurants in over 20 Indian cities.
According to data accessed through the business intelligence platform Tofler, Impresario’s total consolidated revenue was Rs 573.66 crore in FY23.
Over expansion, Amlani said the company is adopting a two-fold strategy “by growing into new tier-2 towns and focussing on state capitals, and by going deeper into existing markets to reach more neighbourhoods”.
In 2023, it opened Social outlets in newer markets like Dehradun, Kolkata and Hyderabad.
“In addition to the existing cities – Mumbai, Bangalore, New Delhi, Pune, Kolkata, Hyderabad, Gurugram, Chandigarh, Indore, Dehradun, and Faridabad; we are bullish on expansion and are looking to expand to new cities this year.
“We will expand into opportunities where we can offer differentiated yet localised experiences,” he said.
The company is adopting a strategy of having different formats of outlets, depending on the region, and various other factors.
“Currently, we have standalone stores in key neighbourhoods, mall outlets and some of our outlets in Bangalore and Mumbai are present inside corporate parks as well. We will continue to innovate with our design and spaces to adapt to the region and neighbourhood we are entering,” said Amlani.
It also operates various cloud kitchen brands like Boss Burger, Lucknowee and Aflatoon by SocialL, which mainly operates from Social premises offering a variety of culinary.
“Today, a strong leg of our revenue comes from these cloud kitchen brands and is currently 10 to 12 per cent of our overall business,” he said.
Besides, it also operates restaurants Slink & Bardot, a French diner and cocktail bar Bandra Born and Prithvi Cafe in Mumbai. PTI KRH KRH BAL BAL
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