New Delhi: Malaysian restaurant and bar chain Morganfield Group is looking to enter India and launch three of its brands—takeaway outlets Mocktail Bar and Snackz It, and casual dining restaurant Morganfield’s—by the end of this year.
Mocktail Bar and Snackz It are kiosk models, which will spread over 150-200 sq.ft, while a typical Morganfield’s restaurant spreads over 3,500 sq.ft.
“We are bringing in Morganfield’s, Mocktail Bar and Snackz It to India. We want to focus on non-alcoholic mocktails because there are enough juice bars and coffee places in India. Mocktail Bar will be a takeaway beverage place, while Snackz It will be a takeaway fast food outlet,” said Jeffrey Goh, group chief executive officer at Morganfield Group. The company is currently looking for franchise partners.
Over the next five years, the company plans to open 250 outlets in India (16 for Morganfield’s, 116 each for Mocktail Bar and Snackz It) across the country. Globally, the company runs 63 total outlets for the three brands as of now.
Founded in July 2010, Morganfield Group has five other food and beverage restaurant chains in four countries. For the year 2016-17, the company earned about Rs324 crore in revenue—70% of which came from Morganfield’s. Both Mocktail Bar and Snackz It contribute about 3-5% each to the company’s global revenue.
“Morganfield’s is our flagship brand and we specialize in pork ribs. However, we are planning to have a more vegetarian menu in India suitable to local needs,” said Goh.
At Mocktail Bar, the products will be priced in the range of Rs100-150, while Snackz It will offer food priced between Rs125 and Rs200.
“The proposition of Mocktail Bar seems interesting. It will be a good play in the areas where people don’t really consume alcohol. As for other formats, it’s a good time to enter India as people are experimenting with their food. More and more people are eating out. The challenge for a company is to have competitive pricing and good menu,” said Rajat Wahi, partner, management consulting, Deloitte India.
According to a joint report by National Restaurants Association of India and consulting firm Technopak Advisors, the food services market in India is projected to touch Rs4.98 trillion by 2021 from Rs3.09 trillion in 2016, growing at an annual average rate of 10%. The Indian restaurant industry will contribute Rs22,400 crore by way of taxes and create 5.8 million direct jobs in 2016, according to the report