With rising disposable income and focus on premium and luxury lifestyle, fine dine is growing at the rate of 3 per cent CAGR with approximately 3 per cent market share as of 2016, shares NRAI report.
Not only this, the Fine dine segment is the smallest part of the entire food business industry in India, but it contributes to about 35 per cent revenue because of its premium nature, which draws a whole lot of money. With high focus on metros and mini metros, this segment is highly challenged because of the shorter shelf life, constant innovation and differentiation and high operational cost.
“Fine Dine food cost is little high because it involves huge amount of labour, patience and love that has been involved in bringing out the best food. Internationally, we don’t have to worry about food cost, but it is the labour cost that is the matter of concern. We started in New York and my entire team is from India and you can imagine that the labour cost is really high,” shares Manish Mehrotra, Corporate Chef- Luxury Dining, Old World Hospitality, which runs the top fine dine restaurant, Indian Accent.
It’s all about the experience
Eating out at a high-end restaurant is considered an experience worth paying for. And, to bring this experience at the restaurant, there is a lot of effort that is expected from a chef. “My definitions of fine dine is it’s all about experience. We try to push out boundaries of techniques and not push out boundaries of guests. We are here to give people time that they will never get anywhere else,” says Chef Vikramjit Roy, Chef de Cuisine, Tian- Asian Cuisine Studio, ITC Maurya.
Adding to the same lines, Mehrotra shares, “Experience includes the moment you enter the restaurants- the quality of food, service, ambiance and attitude of the staff.
Fine dine has to do something, which is different and in a different way, maintaining everything what is required. People visit a restaurant for its food and taste and not for the ambiance. Also, with the small techniques that fine dine has to go through, it has become a standalone segment in itself and globally stand alone restaurants are making waves. “At the moment if you notice the entire world, stand alone restaurants are the best restaurants. The guests should smile when they exit your restaurants, thinking that the experience, ambiance and taste of food was that of a fine dine restaurant." points Mehrotra.
With costs that is a little high and the risk to be in the innovative race, fine dine is one such segment which needs lots of passion and hard work to drive in.