Yellow Tie Hospitality is planning to open 60 outlets of various restaurant brands under its portfolio in India by the end of 2019, a top company official said Thursday. Currently, the company has 50 operating outlets across over 15 cities in India.
"We plan to add 60 more operating outlets in India by the end of this year, taking our total number to 110 outlets," Karan Tanna, Founder and Chief Executive Officer, Yellow Tie Hospitality told PTI.
According to a PTI report: The company manages successful restaurant brands through efficient franchising management, he added.
"For the new restaurants that we will be opening this year, apart from deepening our presence in the locations we are already present, we are looking at places such as Varanasi, Udaipur, Ludhiana, Chandigarh, Bhopal, Indore, Nagpur, Nashik and Kochi, among others," Tanna further told PTI.The company currently has 12 brands including Genuine Broaster Chicken, Dhadoom, Umraan Regional, Billboard, Wrapchic, Teddy's, Wok This Way, Just Falafel, Chachago, Twist of Tadka, BB Jaan and Bombay Blue in its portfolio under the franchise model, he added.
"Bombay Blue was recently acquired by us from Everstone Capital. We have also launched a restaurant incubation centre," Tanna was quoted by PTI as saying.
The company will also soon launch its new brand 'Yellow Food District' and is entering the food court management segment, especially in greenfield projects and in Tier-II and Tier-III cities, he added.
The first exclusive Yellow Tie branded food court will be launched in Sonipat in April, Tanna said.
The company also has a big research and development centre in Mumbai, and its focus is on standardisation of food across all the outlets, he added.
When asked about investments the company plans to make for the expansion, Tanna told PTI: "Our investments are mainly on brand building, software, raw material supply, menu engineering, training and marketing."
Founded in 2015, Yellow Tie Hospitality is also planning to enter foreign market going forward.