Aug 05: The Restaurant Group (TRG) today announces a multi-million-pound joint venture with Charcoal Concepts, the multi-brand restaurant platform owned by K Hospitality Corp, to accelerate the expansion of wagamama across India.
The announcement coincides with the opening of Wagamama‘s newest restaurant in Mumbai, the 4th in the country. Together, the partners aim to open at least 100 wagamama restaurants across India over the next 10 years.
Andy Hornby, TRG CEO, said: “We’re delighted to officially announce the joint venture with our partners K Hospitality, after months of hard work and collaboration between our two companies. “India is an important target market for us as we grow internationally and gives us more opportunity to introduce more guests to our world-famous flavours, vibrant atmosphere and distinctive dining experience that makes us so special.”
Francisco Neves, SVP, Franchise & Partnerships, wagamama, said: “This is a really important milestone for us, and we’re delighted to be further cementing our partnership with Charcoal Concepts. “Our first restaurants have exceeded our performance expectations, and I’m really excited to see more wagamamas open up across the country.”
The Restaurant Group operates hundreds of restaurants and pub restaurants across the United Kingdom. Its principal trading brands are Wagamama, Barburrito and pub-chain Brunning & Price.
Charcoal Concepts, owned by K Hospitality Corp, is a dedicated multi-brand restaurant platform created to build and scale leading food and beverage brands across India. Its portfolio includes iconic Indian brands such as Copper Chimney and Bombay Brasserie, alongside global brands including wagamama.
The joint venture comes on the back of the first wagamama restaurant opening in Churchgate, Mumbai, one year ago, which has proved to be a massive hit with diners, exceeding pre opening expectations.
Karan Kapur, Executive Director, K Hospitality, said:
“The response to wagamama since its India debut has far exceeded all our expectations, reaffirming the growing appetite for great global concepts with strong local relevance. We are excited to partner with The Restaurant Group to expand wagamama‘s presence and build the brand into a market leader in Asian cuisine in the country.”Rohan Sable, CEO, Charcoal Concepts, said:
“This joint venture marks the beginning of a long-term growth journey for Wagamama in India. We see an incredible opportunity to build one of the country’s most loved and admired casual dining brands by combining wagamama‘s globally recognised proposition with Charcoal Concepts deep understanding of the Indian consumer and our expertise in scaling restaurant brands.
Together with The Restaurant Group, we are confident of building a business that sets a new benchmark for pan-Asian dining in India.”