Wok Express Plans to Invest Rs 100-150 Crores in Four Years
The self-funded brand which came into existence in 2015, and has now got 15 outlets across Mumbai is looking for the investment to expand.
WITH ITS increased footfall in Mumbai, Wok Express, India’s Asian Food QSR released its future plans for expansion. Wok Express a self-funded entity is now looking at an investment of 100-150 crores over the next four years. “We are planning to increase our presence to over 100 locations across India including Mumbai, Delhi, Pune, Hyderabad and Bengaluru,” says Aayush Agrawal, Director, Wok Express.
Starting its journey in 2015, the brand has now established 15 outlets across Mumbai. “With rising per capita income and urbanization, Indian’s demand for various superior food products along with the urge for experimentation has led to necessitating a possible change in the food consumption pattern,” says Agrawal.
“While, Indian cuisine remains to be the most preferred choice in India, Chinese, Pan Asian Cuisine is gaining significant popularity, followed by South Indian, American and Italian. Seeing the immense potential in this segment, these domestic brands are also on a lookout for funding from private equity players to establish a strong foothold,” Agrawal told us.
According to Agrawal, The consumer preference for QSRs has increased considerably, followed by casual dining restaurants. Adding more to this, he said, “the potential in India for a branded Asian food QSR is huge and every individual are our potential customers. We aim to bridge the gap between a larger niche audience & people who are on the go. I think customers need a branded organized Asian food QSR player serving customized fresh food to them.”
With the new digital wave there is a surge in the food delivery apps in the form of aggregators and app based restaurants which are playing an important role in helping the QSR segment grow.
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