Indians are not only cooking more, but are also experimenting with various international cuisines. Based on this insight , the Future Group has launched its second Foodhall outlet, a food lifestyle experience store chain, in Bangalore.
“Foodhall caters to the changing needs of Indians in the kitchen such as cheese paring knives or Italian breads or oyster mushrooms,” says Ms Avni Biyani, the younger daughter of Future Group CEO, Mr Kishore Biyani. As Concept Head, Foodhall, she has been driving the group's entry into the luxury food retailing business.
She says the Indian consumer's demands have changed, thanks to increased exposure to international cookery shows, magazines and global travel. “Even the store design and offerings have evolved since the first store was launched in Mumbai last year,” she points out.
Apart from gourmet food, the Bangalore store has 5,000 sq ft of “elements needed to put the food on the table with.” And so, you have products such as silicon parchment paper, aluminium foil moulds, mandolin slicers, toaster bags and cupcake liners.
Ms Biyani is quite certain that there is no other comparable store chain in the country. “There are gourmet food stores, but we offer much more than food,” she says.
She plans to expand the Foodhall chain to about 10 stores in the next two years. Although non-committal about investments in the venture, Ms Biyani is confident the Mumbai store would break even in a couple of months and the Bangalore outlet in a year's time.
Over 70 per cent of the products at Foodhall are imported. The size of the Indian gourmet food market is estimated at around Rs 6,500 crore, and growing at a compound annual rate of 20 per cent.