Azure begins 'Sly' journey from Bengaluru; defines new space

Azure begins 'Sly' journey from  Bengaluru; defines new space

Creative food company Azure Hospitality is writing the first chapter of its new brand Sly Storys in Bengaluru.

Sly Granny, the Bengaluru chapter of Sly Storys is being launched alongside the company’s casual dining restaurant Dhaba by Claridges in Indiranagar. Hoping to cater to an evolved customer-base, Sly Storys is a ‘community house’ that is presented in the format of a home with a living room, dining room, terrace, and some activity rooms, with European and Mediterranean cuisines on the menu.

“Bengaluru is a fantastic market, both in terms of revenues as well as footfalls. It is a great market to begin the Sly Storys journey. With different stories and themes to embody each destination, Sly Storys will enter Delhi and Mumbai in the nest six months,” said Azure Co-founder and Director Rahul Khanna.

The city now hosts one outlet of all its top brands, including flagship Mamagoto. “In the coming financial year, Bengaluru will get one more Mamagoto and another Dhaba by Claridges,” said Azure Co-founder and Director Kabir Suri. With 15 Mamagotos across the country, the brand contributes to as much as 55% of the company’s revenues.

As the company takes its expansion plans forward, it plans to carry its restaurants to Sri Lanka, Dubai and the UK in the coming financial year. “We are very keen on taking our brands to international markets. As per our plans, we should have set up both Mamagoto and Dhaba by Claridges in at least one of the foreign markets we are focusing on,” said Suri.

“Setting up a restaurant in any of these markets will require an investment of about $1 million to $1.5 million,” added Khanna.

Further, the company, which derives 18% of its revenues from its catering business, is positive about expanding it to Bengaluru and Mumbai by the third quarter of 2017. “The catering business is already active across the country. However, we intend to set up centres in Mumbai and Bengaluru soon,” said Khanna. 

Backed by Goldman Sachs and Max Ventures, the company made a total investment of Rs 40 crore across all its restaurants in 2016. With all its outlets being company-owned-and-operated, it will be closing this year with Rs 100 crore in revenues, and an annual run rate of Rs 160 crore.

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