Foodhall, the premium lifestyle food destination of the Future Group, is eying revenues of R125-150 crore and Ebitda margins of 10-15% by fiscal 2015. Launched in 2011, there are five Foodhall stores in the country and the next one is set to come up in Delhi’s Saket area.
Though the company earlier planned to set up 16 such stores by 2014, Foodhall’s concept head Avni Biyani said the expansion plans have been slowed and no new targets have been set. “Our focus is on profitability and 16 stores will not happen. We would like to open two more stores in Delhi though,” she told FE while launching the fifth Foodhall in Gurgaon on Wednesday.
More than 70% of the food items are imported and Foodhall’s margins are anywhere between 30% and 32%.
While categories like fruits and vegetables, bakery and general merchandise are driving growth, Biyani said that pet foods and personal care sections need to grow faster.
Close to 25% sales are made in the bakery category, 15% in fruits and vegetables, 12% in electronics and rest in FMCG.
Foodhall deals with gourmet food compared with Food Bazaar catering to the mass market but the overlap of items sold between the two formats is close to 40%.