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The Restaurant Group (TRG) and Charcoal Concepts, the multi brand restaurant platform of K Hospitality Corp, have formed a multi-million-pound joint venture to accelerate the expansion of the Wagamama brand in India. As part of the partnership, the companies plan to open at least 100 Wagamama restaurants across the country over the next decade, underscoring their long term commitment to one of the world's fastest growing food service markets.
The announcement comes alongside the opening of Wagamama's fourth restaurant in India, located in Mumbai. TRG, one of the UK's leading hospitality companies, operates hundreds of restaurants and pub restaurants through brands including Wagamama, Barburrito, and Brunning & Price.
Charcoal Concepts was established to build and scale premium food and beverage brands in India. Backed by K Hospitality Corp, its portfolio includes established homegrown brands such as Copper Chimney and Bombay Brasserie, as well as international concepts including Wagamama.
The new joint venture builds on the strong performance of Wagamama's first standalone restaurant in Churchgate, Mumbai, which opened last year and exceeded initial business expectations. The partners now aim to position Wagamama as one of India's leading pan Asian casual dining brands.
K Hospitality Corp operates more than 700 outlets across eight countries and employs over 12,000 people. Its portfolio includes publicly listed Travel Food Services (TFS), Copper Chimney, Nando's, Wagamama, Bombay Brasserie, Blue Sea Banquets & Catering, and Kliff Ventures, the group's investment arm focused on scaling consumer facing businesses.
Wagamama's airport outlets in India will continue to operate under a separate franchise arrangement with Travel Food Services, K Hospitality Corp's airport food service and travel QSR business.
“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,” commented Andy Hornby, CEO, TRG.
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.”
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."
“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,” mentioned Rohan Sable, CEO, Charcoal Concepts.
