Foodmark to invest $68m in 100 new outlets
Dubai, July 12, 2011
Foodmark, the food and beverage arm of leisure and retail giant the Landmark Group, plans to have 100 restaurants under its portfolio by 2015 with an investment of more than Dh250 million ($68 million).
Having opened six new outlets in the past six months, across the GCC, a further five new outlets will be open before the end of 2011.
Since forming in 2009, Foodmark has seen a growth of 19.3 per cent in its first year to 45 per cent from 2010 to year-to-date.
As it approaches its second anniversary, the company will celebrate the ownership of 25 outlets, employing over 700 members of staff across three countries, a statement said.
Most recent openings include popular authentic Italian chain Carluccio’s and Thai eatery Mango Tree in both Kuwait and Qatar. In addition to these, Foodmark’s own brand Zafran has now opened in Kuwait, offering contemporary Indian cuisine.
The latest opening is in Dubai, with Cantonese flavoured Chi’Zen now open in Mall of Emirates. Plans are in place to open another outlet, which hails from the famous Zen chain of restaurants, in Kuwait later in 2011.
This summer will see Filipino chain MAX opening in Dubai and Sharjah, the statement said.
“Foodmark’s success in the UAE and GCC has been consistently growing year-on-year, and we continue the search for not only perfect venues but the ideal people to run those outlets,” said Naveed Dowlatshahi, general manager of Foodmark.
“We are delighted to be launching the second and third Chi’Zen restaurants in Mall of Emirates and Kuwait, where our other outlets Mango Tree, Zafran and Carluccio’s have already been extremely well received. It is an exciting time for us, and we look forward to developing the Foodmark brand significantly in the coming years,” he added. – TradeArabia News Service