Landmark Group eyes 25 Carluccio's in Middle East by 2015

Dubai-based retail giant to roll out Italian cafe chain in Kuwait, on back of UAE and Qatar launches
Landmark Group eyes 25 Carluccio's in Middle East by 2015
Billionaire ‘Micky’ Jagtiani is the CEO of Landmark Group, which plans to launch 25 Carluccios across the Middle East by 2015
By Shane McGinley
Fri 11 Feb 2011 11:32 AM

Dubai-based retail giant Landmark Group is to launch the Carluccio's Italian café chain in Kuwait as part of a wider expansion plan to open 25 outlets in the Middle East by 2015.

"We are looking forward to launching Carluccio's in Kuwait,” Naveed Dowlatshahi, head of Landmark’s Foodmark unit, said in an emailed statement.

“We have huge plans for Carluccio's; in the coming four years there would be over 25 Carluccio's restaurants in the region.”

Landmark agreed last September to buy Carluccio's in a transaction that valued the UK operator of Italian restaurants and food stores at £90.3m ($138.9m).

The chain, which operates 56 outlets globally, has been successfully launched in the UAE and Qatar.

Landmark in October said it would invest AED200m ($54m) in opening 100 retail stores by June 2011.

The Dubai-based conglomerate said the expansion would see its workforce grow by 20 percent.

“We plan to add about 100 stores this year in the twelve months starting in July [2010] to June [2011],” said Vipen Sethi, CEO of Landmark Group.

The financing for the expansion plans will come from Landmark’s internal resources, Sethi added. The firm claims a turnover of about $3.8bn and is targeting $5bn within the next three years, helped by forecast growth of 20 percent a year.

“We have liquidity for that expansion,” Sethi said.

Landmark has 900 existing stores across the Middle East, India, Turkey and Pakistan, and employs 31,000 staff.

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