wagamama and Charcoal Concepts have announced a multi-million-pound joint venture to accelerate the casual dining brand’s expansion across India.
The partnership between The Restaurant Group-owned wagamama and Charcoal Concepts, the multi-brand restaurant platform owned by K Hospitality Corp, aims to open at least 100 wagamama restaurants across India during the next 10 years.
The announcement coincides with the opening of wagamama’s fourth restaurant in the country, located in Mumbai.
The joint venture follows the opening of India’s first wagamama restaurant in Churchgate, Mumbai, one year ago.
According to the partners, the performance of the brand’s initial Indian restaurants has exceeded expectations, supporting the decision to commit to a longer-term expansion programme.
Andy Hornby, Chief Executive Officer of The Restaurant Group, said: “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.”
The Restaurant Group operates restaurants and pub restaurants across the UK through brands including wagamama, Barburrito and Brunning & Price.
The Indian joint venture will combine wagamama’s restaurant concept and international brand experience with Charcoal Concepts’ knowledge of the Indian market and experience of developing restaurant businesses across the country.
Charcoal Concepts was established by K Hospitality Corp to develop and scale food and beverage brands in India.
Its portfolio includes Indian restaurant brands Copper Chimney and Bombay Brasserie, alongside international operators including wagamama.
Francisco Neves, Senior Vice-President, Franchise and Partnerships at 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.”
The companies intend to develop wagamama into a leading pan-Asian casual dining brand in India, adapting its international proposition to the requirements of local consumers and individual markets.
The joint venture will focus on locations outside India’s airports. Existing wagamama airport restaurants will continue to operate through a separate franchise agreement with Travel Food Services, K Hospitality Corp’s travel foodservice business.
Karan Kapur, Executive Director of 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.”
The agreement forms part of wagamama’s wider international development strategy as the brand looks to increase its presence beyond the UK.
Its expansion programme includes company-owned and partnership-led restaurants, together with sites operated under franchise agreements in international and travel locations.
Rohan Sable, Chief Executive Officer of Charcoal Concepts, said: “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.
“Together with The Restaurant Group, we’re confident of building a business that sets a new benchmark for pan-Asian dining in India.”
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