Bangalore's South Indies plans to open branches overseas
Riding on the initial success of his hospitality venture, South Indies Restaurants, Bangalore-based Venkat Rajendran will increase the number of specialty restaurants under the ‘South Indies’ brand in India, as well as open Indian-cuisine restaura...
By M Rochan, TNN |
BANGALORE: Riding on the initial success of his hospitality venture, South Indies Restaurants, Bangalore-based serial entrepreneur Venkat Rajendran will increase the number of specialty restaurants under the ‘South Indies’ brand in India, as well as open Indian-cuisine restaurants abroad.
The move would see the city-based start-up invest close to $25 million, over a 4-5 year period, towards setting up 20 restaurants in India and five abroad. Initially, funds for the expansion will be sourced from a private investment vehicle, Billionways, floated by the entrepreneur.
“We intend to grow the restaurant business to $100 million in terms of sales over the next 4-5 years. With the concept of an upscale south Indian vegetarian restaurant going down well with people in Bangalore, we’re looking to replicate this model across the country,” said Mr Rajendran. The second and third in the series of restaurants will open in Bangalore. New Delhi is the next target, where the company is to open a restaurant by end-2008.
Talking about the proposed overseas foray, Mr Rajendran said he expects to open the first restaurant in South-East Asia by mid-2009.
The move would see the city-based start-up invest close to $25 million, over a 4-5 year period, towards setting up 20 restaurants in India and five abroad. Initially, funds for the expansion will be sourced from a private investment vehicle, Billionways, floated by the entrepreneur.
“We intend to grow the restaurant business to $100 million in terms of sales over the next 4-5 years. With the concept of an upscale south Indian vegetarian restaurant going down well with people in Bangalore, we’re looking to replicate this model across the country,” said Mr Rajendran. The second and third in the series of restaurants will open in Bangalore. New Delhi is the next target, where the company is to open a restaurant by end-2008.
Talking about the proposed overseas foray, Mr Rajendran said he expects to open the first restaurant in South-East Asia by mid-2009.
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