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| CavinKare eye Rs 300 crore from restaurant biz |
| BS Reporter / Chennai Nov 02, 2009, 00:53 IST |
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Chennai-based consumer goods firm CavinKare has set a target of Rs 300 crore over the next three years from its newly-started restaurant business. The company, which recently opened a food chain — CK’s — in Puducherry, launched its new restaurant - Vegnation - in Chennai.
Speaking on the occasion, CK Ranganathan, chairman and managing director, CavinKare, said the company was piloting the restaurant concept through five different offerings. While CK’s is a combination of eastern and southern cuisines, Vegnation will offer Jain and south Indian foods. Vegnation, which was earlier called Palimar, has been taken up on a business acquisition model.
The company currently operates these restaurants through its subsidiary United Agro Private Ltd. It is planning to launch three more by June next year.
“After the success of CK’s at Puducherry, we have decided to open four CK’s over the next two to four months in Chennai,” he said. The company is also looking at adopting the franchise model for the proposed expansion. “We have already got a few enquiries for CK’s. In the next 6-12 months we will start this model.” Each restaurant costs around Rs 1-2 crore.
Among others, it plans to take its Ma brand, a mango-based drink, beyond south next year. The focus market would be north and west.
Commenting on the dairy business, he said the vertical was expected to contribute Rs 75-80 crore this year.
The company offers curd and milk under this segment and would launch flavoured milks in four variants in the next one month
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