|
Supported by strong GDP growth , the demographic and socio-economic profile of India is changing dramatically. Not only are nuclear families benefiting from rising disposable income levels, but so is an increasing number of single young professionals and double income families. This is translating to changing eating habits and food service landscape across the country. According to a study carried out by Euromonitor and Knight Frank Consulting, the number of transactions in the Indian food service industry is growing at a CAGR of 13.6%, while the size of the Indian restaurant industry is growing at a CAGR of 18%. The growth of organized retail is resulting in more shopping malls coming up in the country. This phenomenon is not just restricted to metros and Tier-1 towns only.
In July 2007, IHC acquired Mars Restaurants Pvt. Ltds, one of the largest multi-brand restaurant chains in India, with a particular focus on Western India historically. Mars operates in both the specialty and value for money segments. It caters to a variety of eating formats. Dosa Diner and Roti are two of the company’s successful fast food and food court formats; China Joe, Just Around The Corner and Pizzeria & Pasta Bar are some of the company’s casual dining formats; and Tendulkar’s, Not Just Jazz By The Way and All Stir Fry are some of the company’s gourmet dining formats. The company has also successfully developed specialty formats like Birdy’s Bakery and Patisserie.
Mars plans to roll out these various formats across areas of India showing robust consumer growth, partly capitalizing on the unique and definite synergies offered by SkyGourmet’s facilities and the sharing of kitchen infrastructure and procurement channels.
For more information, please visit http://www.mars-world.com
|
