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Mon 4 Jul 2011 05:52 PM

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Landmark eyes $68m plan to expand restaurant portfolio

Leisure and retail giant says its food unit plans to have 100 restaurants in the GCC by 2015

Landmark eyes $68m plan to expand restaurant portfolio
Foodmark, the food and beverage arm of leisure and retail giant Landmark Group, said on Monday it planned to have 100 restaurants in its portfolio by 2015. (Photo for illustrative purposes only)

Foodmark, the food and beverage arm of leisure and retail giant Landmark Group, said on Monday it planned to have 100 restaurants in its portfolio by 2015.

Having opened six new outlets in the past six months across the GCC, a further five new outlets will open before the end of 2011, the company said in a statement.

To reach 100 restaurants by 2015 Foodmark will invest in excess of AED250m ($68m), on top of the previously invested AED100m to open the first 25 outlets.

Most recent openings include popular Italian chain Carluccio's in Kuwait and Qatar and Thai eatery Mango Tree in Qatar.

In addition to these, Foodmark's own brand Zafran has now opened in Kuwait, offering contemporary Indian cuisine, the company added.

The latest opening is in Dubai, with Chinese inspired Chi'Zen now open in Mall of Emirates following its growing popularity in Festival City.

Plans are in place to open an additional outlet in Doha, Qatar later in 2011, Foodmark said.

Naveed Dowlatshahi, general manager of Foodmark, said: "Foodmark's success in the UAE and GCC has been consistently growing year-on-year, and we continue the search for not only perfect venues and ideal locations but the ideal people to run those outlets.

"We are delighted to be launching the second and third Chi'Zen restaurants in Mall of Emirates and Kuwait, where our other outlets Mango Tree, Zafran and Carluccio's have already been extremely well received.

"It is an exciting time for us, and we look forward to developing the Foodmark brand significantly in the coming years."

Since forming in 2009, Foodmark now employs more than 700 members of staff across three countries.

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Foody 8 years ago

Most of Landmark's restaurant locations do not make money despite what is written in the article. With such an aggressive growth strategy Landmark will not find enough good real estate opportunities and therefore will accept questionable real estate where their sales will probably be less than expected.