Future Group’s Galaxy bets big on food courts

Priyanka Pani Mumbai | Updated on April 11, 2014

You can now enjoy your favourite fashion show or live cricket or football matches on big screens with a glass of beer at food courts managed by Galaxy Entertainment Corporation.

The Future Group-owned company is betting big on its food courts at a time when footfalls at retail outlets are dropping, forcing mall developers to pay greater attention to eateries.

The BSE-listed entity, which was acquired by Kishore Biyani-led Future Group from the promoters of Haldia Petrochemicals in 2005, runs sports bars and gaming zones under two brands — The Sports Bar and The Sports Bar Express — across popular malls in the country.

Galaxy plans to open 22-24 food-courts this fiscal at an investment of ₹10 crore, said Sunil Biyani, Director. It currently runs 11 food courts, and has tie-ups with various malls to operate and manage food outlets through a minimum-guarantee-plus-revenue-sharing model.

Mumbai-based real-estate firm Phoenix Mills holds a 34 percent stake in Galaxy.

Sunil Biyani, a cousin of Kishore Biyani, said the Indian food service industry is growing on the back of increasing income and changes in food consumption pattern.

Besides, food courts are driving this industry as malls are expanding to smaller towns.

“Food-courts play the role of anchor tenant in a mall. Along with complimenting businesses such as books, games, fine dining restaurants and movies, they provide good recreational space to the customers.

“However, there is a huge vacuum and the latest offerings are geared towards entertainment, relaxation and leisure dining,” he added.

Meanwhile, analysts feel Future Group should have focussed on this business considering the fact that he has pioneered the retail sector. For FY-13, the company had a turnover of ₹45 crore and expects a 20 percent growth this fiscal.

Published on April 11, 2014

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