Financial Daily from THE HINDU group of publications
Thursday, Sep 16, 2004
Financial Daily from THE HINDU group of publications Thursday, Sep 16, 2004 |
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Corporate
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Announcements Biryani Merchant plans to enter ready-to-eat segment soon Anjali Prayag
Bangalore , Sept. 15 BIRYANI Merchant, an exclusive Biryani restaurant based in Bangalore, is planning a foray into the ready-to-eat segment soon. According to Mr Vishy Shenoy, CEO, Epicurean Entrepreneurs Pvt Ltd., (the company which owns the restaurant and the brand), he opted for the geometric growth path rather than the linear expansion (opening a chain of restaurants in other cities) as the latter will pose huge manpower challenges. "We will need to have supervision and trained personnel at each of the locations which may become difficult at this stage of the business," he feels. Epicurean's Biryaniwallas will hit supermarket shelves across the country in January 2005. Mr Shenoy said the company had already identified land for the manufacturing unit and it was in the "final stages of getting various licences from the Government." The company is planning an initial production capacity of 1,00,000 units per month which it hopes to double in six-to-eight months' time. Mr Shenoy also said that the project has been funded by Mr Arun Murugappan , Mr N.P. Prakash, an ad film maker; and Mr Charles Statman, a Silicon Valley investor. He however refused to divulge other financial details. The ready-to-eat food market in the country which is worth about Rs 80 crore today is expected to more than double to Rs 200 crore by 2005, according to industry statistics. "But we are looking at the international market too in a big way," says Mr Shenoy.
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