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Lite Bite Foods, promoted by Dabur scion Amit Burman, expects to touch ₹500 crore revenue in the next two-three years, with plans to add 25-30 stores annually.
The expansion will require investments of ₹70-80 crore, which Burman, Chairman of Lite Bite Foods, will invest through internal accruals.
The company would also look at an initial public offering in two-three years, he said.
Lite Bite Foods runs about 100 stores across its brands such as Punjab Grill, Asia Seven, Zambar, Fres Co, Pino’s, and Street Foods of India.
Festival gifting Recently, the company formed a joint venture with Mumbai-based Puranmal Foods for selling premium Indian sweets.
“We saw an opportunity to join hands with Puranmal as there is a big gap in the high-end Indian sweets and savouries segment, besides the huge potential for festival gifting. In the first phase, we will focus on the business to business space and the Diwali gifting business, especially tailor-made for corporates. In the second phase, we will look at opening premium retail stores under the brand Signature Sweets,” he told BusinessLine .
He added that new and profitable stores is the way to grow.
Franchise route “The travel retail space, for instance, has become a large part of our growth. Besides operating at Delhi airport, we have opened various outlets at Mumbai airport. We have also expanded with stores at the Mumbai metro. Looking at the new Government’s plans for the railways, we will consider opening new stores at railway stations.”
The company has also been using the franchise route.
“We have received lot of traction for our brands for franchising opportunities. Besides growing in India, we are also expanding in international markets through the franchise route,” Burman said.
Lite Bite Foods is set to open two franchise stores at Abu Dhabi and one in Bangkok. It is also looking at opening a franchise store in the US.
Meanwhile, Burman, who had bought out the London-based Italian fine-dining restaurant Scalini, plans to expand it to Dubai in six months.
He is also looking at opportunities to bring the brand to Delhi and Mumbai.
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