Now Capital Group, one of the leading investment and advisory firms recently announced that it has infused funding into KWALS Group, one of the largest food court operators in India and operator of major food brands such as the upcoming American restaurant chain- IHOP.
Now Capital has taken this strategic step to further increase the portfolio and scale of both companies. Now Capital provides a unique combination of capital, strategy & operational consulting and follows an ‘Invest & Build’ philosophy. Portfolio and Partner companies are chosen based on growth potential and synergy with existing investments.
In addition to the current capital infused by KWALS and Now Capital, the firms plan to infuse over Rs. 200 crores to execute their national expansion strategy through organic growth and acquisitions of key businesses.
KWALS has most recently signed a multi-unit franchise deal with Dine Equity to launch IHOP restaurants in India, with the first store to be opened in Cyberhub Gurgaon in the coming months. India is the 19th country for IHOP and fuvours the plans of KWALS to expand their mark across formats and brands. IHOP – International house of pancakes- plans to win the market through its USPs: eggless pancakes, bottomless tea/coffee and an indulgent all day dining menu.
Sahil Baweja and Ankit Gupta of Now Capital will join the advisory board of KWALS and help formulate investment strategy and expansion plans of the KWALS group.This will further solidify the team, which already boasts of prominent industry veterans including Sanjay Sachdeva (previously with the Devyani group) and Gaurav Bawa (previously with Nandos and Yum)
Elaborating on the plans, Sahil Baweja, Director, Now Capital, commented, “As we continue to grow our F&B footprint, we are entering into strategic partnerships and investing across the spectrum from QSR to fine dining. We areimmensely confident that ‘new segments’ such as American breakfast and all day dining will be the elusive growth drivers for the restaurant industry. Both the companies have a unified vision which is being powered through this strategic investment and on-going advisory”
Sameer Lamba, Director, KWALS Group, sharing his vision, commented, “We are excited about the partnership with Now Capital.The Now team brings immense domain expertise that complements our current team. Through this new commitment, we are looking forward to facilitate new ventures and expanding our footprint across the country through various new brands and formats, starting first with IHOP.”
Ankit Gupta, Director, Now Capital further added, “In addition to infusing funds, we are working closely with the KWALS team to provide real estate advisory, financial structuring and developing the go to market strategy to ensure that each of KWAL’s ventures remains cash flow positive and meets expansion goals.”
In addition to KWALS, Now Foods, the F&B division of Now Capital has equity positions in Carls Jr. India, BoomboxCafé India, Chai Thela, and franchises of Keventers. Upcoming projects include Blacktail , a luxury Polo Bar on Golf Course Road Gurgaon,a Restaurant brand with Punjabi Icon Gurdas Maan and a CelebrityChef driven Indian restaurant.
With the onset of online food delivery platforms, our hectic lives have been getting easier. To make it more easy, Zomato reveals a strategic partnership with RBL Bank to launch "Edition Credit Cards" powered by MasterCard. This Good news will benefit card holders every time they use Zomato or spend online and offline.
Speaking of its benefits the cards include Zomato credits with every use, Zomato Gold global membership and lounge access at all major domestic airports.
According to a source, Pradyot Ghate, the Vice President – Product, Payments and Partnerships- Zomato, says,"We have always strived to build unique food experiences and the Edition Cards have been specially made for those who are always exploring food across the globe"
"We are excited to bring a unique co-branded credit card which rewards card holders with every transaction - be it on the Zomato app or at a restaurant," Ghate said.
As of now two variants of the card has been launched, Edition and Edition Classic. It is imperative to understand that this partnership will not just benefit Zomato and its users, but it will also benefit RBL bank to further strengthen the scale of operations in its credit cards business. Together this partnership will help reach out a larger segment of customers using RBL’s services.
"This partnership is an extension to our 'Partners ka Bank' philosophy and is an exciting addition to our comprehensive portfolio of co-branded credit cards. RBL Bank has over 2.5 million credit card holders currently, and we are thrilled about the potential of the Edition Cards," said Utkarsh Saxena, Head Products - Credit Cards, RBL Bank.
With our evolving lifestyles our preferences are also evolving. Online food ordering has not just made our lives easier, but it has offered us a variety of choice just with one tap of our fingertip. In such a scenario, it would be interesting to note the significant value will this co-brand card proposition brings along.
Anheuser Busch InBev (AB InBev), recently signed an agreement with The Indian Hotels Company Limited (IHCL), South Asia’s largest hospitality company, to launch a premium chain of microbreweries within its marquee hotels across key locations in India. This partnership is worth Rs150 crore with plans to open 15 microbreweries over the next 5 years. This partnership will leverage the collective strength of the two leading companies to shape the future of quality craft beer in India.
Commenting on this partnership, Jan Craps, Executive Director and CEO, Budweiser APAC and President, AB InBev said, “We are delighted to partner with IHCL with its portfolio of exceptional hotels to open specialty microbreweries across top urban cities of India. The microbreweries will be conceptualized by ZX Ventures, our global innovation and investment team that will bring in their global brewing expertise to develop the current ecosystem and delight our consumers. We look forward to working with the emerging craft community in the country and are confident that our synergies in this category will shape the craft beer industry in India.”
AB InBev, with its in-house brewing expertise will offer the best craft beers using the finest natural ingredients. This coupled with IHCL’s culinary prowess and exemplary service, housed in a vibrant and high-energy environment will celebrate the spirit of new India. JOI Design from Hamburg will design all the microbreweries.
“In our endeavour to bring the latest international trends and experiences for our guests, we are privileged to join hands with the world’s largest brewer, AB InBev. This partnership, exclusive to IHCL will be a first of its kind in the hospitality industry in India. With its diverse collection of over 500 beer brands, AB InBev will be involved in setting up on-site microbreweries at some of our iconic hotels; the first of which will be opened at Taj MG Road, Bengaluru, followed by Goa, Mumbai and Hyderabad,” Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL said.
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