Financial Daily from THE HINDU group of publications
Friday, Mar 10, 2006
Financial Daily from THE HINDU group of publications Friday, Mar 10, 2006 |
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Marketing
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Strategy Corporate - Diversification Shringar Cinema enters food court biz Our Bureau
Mumbai , March 9 Shringar Cinemas Ltd has announced its foray into the food court business through a wholly owned subsidiary, Oxford Multiplex Cinemas Private Ltd. The food courts will operate under the brand name, Via 1 Food Street. The company would formally launch food courts in two of Shringar's upcoming properties at Chandigarh and Surat. Over the next couple of months, memoranda of understanding for opening four more will be signed. Initially, the company plans to introduce the food courts only in Fame multiplexes, but would also explore other opportunities later. Oxford Multiplex has appointed Mr Rishi Negi as the Chief Executive Officer, who was the Chief Operating Officer of Pizzeria Restaurants that operates the Pizza Hut brand in Maharashtra and Tamil Nadu. Commenting on the development, Mr Shravan Shroff, Managing Director, Shringar Cinemas, said, "As part of our de-risking strategy we have launched the food court business, which apart from arresting the revenue volatility of the film exhibition business will also maximise return on investments."
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