Financial Daily from THE HINDU group of publications
Saturday, Nov 15, 2003
Financial Daily from THE HINDU group of publications Saturday, Nov 15, 2003 |
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Marketing
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Retailing MTR opens food outlet in Chennai Our Bureau
Mr P. Sadananda Maiya, Chairman, MTR Foods, at the MTR outlet which was opened in Chennai on Friday. - - Shaju John
Chennai , Nov. 14 MTR, the Bangalore-based restaurant, opened its first food parlour and store in Chennai with a menu, which includes vada with chutney fillings, panneer and mushroom wraps, low fat snacks and desserts. The food is packed in paper packs and can be eaten on the move. The dosa wrap is priced at Rs 23 and the funda (vada) at Rs 9. The outlet branded `Namma MTR' has three aspects - - a retail outlet, food court and a concept kitchen. The retail outlet stores the entire range of MTR products. In the centre is the concept kitchen where two chefs will create dishes with MTR products and customers will be encouraged to try out as many products as they want before purchase. Mr J. Suresh, CEO and Executive Director, MTR Foods Ltd, said that this was the first outlet outside Bangalore and was set up to consolidate the brand. He said that the outlet is stocked with ready-to-cook packs for all meals from breakfast to dinner. MTR's latest range — ready-to-eat rice meals — was also launched on Friday. Mr Suresh said that these meals were launched after surveys undertaken by the company revealed that customers want a pack with a complete meal. The rice meals are priced between Rs 15 and Rs 18. Mr Suresh said that the company has a turnover of Rs 103 crore and hopes to achieve a turnover of Rs 500 crore in five years. The company's history dates back to 1924 when the Maiya family started a small restaurant in Bangalore. In 1951, the restaurant came to be known as Mavalli Tiffin Room. Mr Suresh said the restaurant was a part of the city's heritage and people waited in queue to get in. He said that the processed food market is around Rs 300 crore and MTR has around 55 per cent of the market share. The company's exports contribute 8 per cent to the turnover. It exports to the US, Canada, the UK, Germany, France, Gulf, Japan, Australia and New Zealand.
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