[credit provider=”Le Pain Quotidien” url=”http://www.lepainquotidien.in/files/file/India/PQ%20Founder%20Alain%20Coumont%202.jpg”]
India’s burgeoning middle class has opened up to upmarket international restaurant brands. Las Vegas’s Le Cirque will launch at New Delhi’s opulent The Leela Palace, New York’s Megu and San Francisco chain Trader Vic’s are also entering the Indian market, according to The Times of India.This comes after California Pizza Kitchen and Belgian eatery Le Pain Quotidien started operating in the country recently. To attract a wider consumer base Le Pain Quotidien has appropriated local dishes like upma, a popular breakfast dish for their menu.
In an interview Jai Singh, co-founder of JSM Corp which brought Hard Rock Cafe and California Pizza to India, told The Times of India:
“The fundamental economic story is compelling, with more people eating out in aspirational restaurant brands… We could be looking at 80-100 outlets of California Pizza Kitchen over the next five to six years,” Jai Singh said. Le Pain Quotidien launched in Mumbai recently.”
India’s food and beverage market is expected to show a compound annual growth rate (CAGR) of 7.5% between 2009 and 2013. Rising disposable income has seen Indian consumers spend more on dining out but rising labour and real estate costs and food inflation have seen many chains become unprofitable.
International brands however are looking to emerging markets to expand their business and India has become a prime location. London’s Hakkasan and Carluccio are also expected to launch there soon.