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Yo! China, Dimsumbros, The Wine Company looking to raise over INR 300 crore


The plan includes 30 Dimsumbros & 10 The Wine Company restaurants & a large Goa restaurant.

Moods Hospitality, which runs QSR chain Yo! China, is looking to raise over INR 300 crore for expansion of its casual and aspirational dining brands – Dimsumbros and The Wine Company.

The Gurgaon-based company, backed by an investment of INR 30 crore from Matrix Partners, also plans to open a 20,000 sq. ft. lounge restaurant, called Antares, in Vagator, Goa.

The company intends to launch 20-30 Dimsumbros outlets and 10 The Wine Company restaurants across India. It is also looking to take its Antares concept from Goa to Australia and South Africa in the next two years.

“We will be concentrating on our next round of funding after we launch our project in Goa after October,” said Ashish Kapur, MD & co-founder, Moods Hospitality. “Since we will be taking the Antares concept globally, we will need to raise a substantial amount.”

It will cost the company about Rs 1.5 crore to set up a Dimsumbros outlet, while The Wine Company restaurants will cost INR 3 crore each. The Antares, which is being set up in equity partnership with Masterchef Australia finalist Sarah Todd, will, however, cost INR 5 crore to set up, executives said.

While the Yo! China brand has spread to Tier-II and III towns, the company’s other brands largely remain a metro and Tier-I concept. “That’s how things are internationally as well. Most fine dining restaurants in the world are in New York, London and Paris, and we are simply following the trend,” said Kapur.

Source: Economic Times

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