Little Italy, the restaurant chain that serves vegetarian Italian cuisine, is looking to expand its footprint across the country, besides venturing overseas. The Pune-based chain is seeking private equity investment to expand its India operations, the process for which is likely to begin mid-2011, according to a report in Business Line. “In 2010-11, we will be investing close to Rs 50 crore. We will be diluting 20 per cent equity, Little Italy’s Director Raj Mehta told Business Line. The restaurant would seek private participation to raise this capital, he said.
By end 2011, Little Italy plans to set up 10 more India outlets, which will be a mix of franchise and ownership models. The locations will include Nagpur, Nashik, New Delhi, Gurgaon (NCR) and Kochi. The investments in these outlets will be to the tune of Rs 7-8 crore.
The restaurant chain, having a topline of Rs 45 crore, expected to have 70-75 outlets functioning across India in the next three years, Mehta said. At present it is found in 19 Indian cities with 26 outlets, through a mix of ownership and franchise models. However, going forward, the restaurant chain plans to focus more on owned outlets, which would require capital.
The restaurant chain plans to have four to six outlets in international markets by 2012. An outlet in London and the re-launch of its outlet in Dubai are likely to be the first on the radar.
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