- September 19, 2018 / 2 min readThe company will start three kitchens in the city by the first quarter of 2019
Online restaurant Faasos is preparing to establish its first batch of multi-brand cloud kitchens in Dubai. The company will start three kitchens in the city by the first quarter of 2019. With this, it will launch its brands Faasos, Behrouz Biryani, Oven Story and Firangi Bake in the Middle East.
Seeking to capture the next leg of growth, Faasos Food Services is entering into global markets. It operates the brand Faasos.
The net revenue expected by Faasos by the end of the financial year 2018-19 is Rs 300 crore. The firm had ended 2017-18 with Rs 147 crore in net revenue.
Jaydeep Barman, CEO of Faasos, said, "We test new brands with limited locations within our existing kitchens. We only scale those brands that we know are being liked by users and where economics are working. The good thing is that our kitchens become profitable in the second month itself and so we will be profitable by FY19-end at an EBITDA level."
"In every sector globally, like hospitality, ride-hailing, etc., an internet company has become the most-valuable company taking over from its offline peers. But in restaurants, globally it is still McDonald’s. As the world’s largest multi-brand cloud kitchen company, this is what we are trying to change by creating restaurants on the internet," Barman further added.
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