While many international restaurant brands are already in India, a host of others are lining up to commence operations. But almost every CEO B&E met for this story lamented the over-policing by the government... We take a quantitative stock analysis! by Vareen Gadhoke Ray & Swati Sharma
Variety, they say, is the spice of life – a fact that Lee Iacocca (former CEO, Chrysler) vouched for in his autobiography. He mentions that when his parents immigrated from Italy to the US, his father Nicola started a hot dog restaurant, Yocco's Hot Dogs, (apart from two other businesses). And then the infamous 1929 Wall Street Crash happened, wiping out the savings of millions of Americans in one shot. Iacocca writes that while most other businesses in America collapsed, the restaurant business kept thriving – because people wanted to forget their worries. So customers kept streaming into Yocco's Hot Dogs, and business never seemed to go down. His family saw those times through relatively easily because of that. Iacocca was five years old then, but the lessons remained with him throughout his life. Almost everybody knows Iacocca worked in Ford, and then headed Chrysler till his retirement in 1992. Not many know that in 1998, Iacocca became the Chairman of the LA based restaurant chain, Koo Koo Roo Inc.
The anecdotes are placed simply to prove a point – the restaurant industry is interestingly one of the Indian economy’s best kept secrets. Fast food chains, QSRs, fine/casual dining, cafes, bars & lounges, food courts, take away kiosks, et al, from across the world have set up shop here. With a slew of customised product, offerings and pricing strategies coupled with an armoury of aggressive expansion plans, the restaurant sector (which is growing at 5-6% per annum) is now worth a huge Rs.430 billion! But strangely, there's generally never any kind of a brouhaha over this sector within India – no particularly data-heavy media reports, no statistics, no intrinsic analysis... So B&E decided to go one-up and bring a collation of the latest status of this industry, and the challenges that stand within.
Variety, they say, is the spice of life – a fact that Lee Iacocca (former CEO, Chrysler) vouched for in his autobiography. He mentions that when his parents immigrated from Italy to the US, his father Nicola started a hot dog restaurant, Yocco's Hot Dogs, (apart from two other businesses). And then the infamous 1929 Wall Street Crash happened, wiping out the savings of millions of Americans in one shot. Iacocca writes that while most other businesses in America collapsed, the restaurant business kept thriving – because people wanted to forget their worries. So customers kept streaming into Yocco's Hot Dogs, and business never seemed to go down. His family saw those times through relatively easily because of that. Iacocca was five years old then, but the lessons remained with him throughout his life. Almost everybody knows Iacocca worked in Ford, and then headed Chrysler till his retirement in 1992. Not many know that in 1998, Iacocca became the Chairman of the LA based restaurant chain, Koo Koo Roo Inc.
The anecdotes are placed simply to prove a point – the restaurant industry is interestingly one of the Indian economy’s best kept secrets. Fast food chains, QSRs, fine/casual dining, cafes, bars & lounges, food courts, take away kiosks, et al, from across the world have set up shop here. With a slew of customised product, offerings and pricing strategies coupled with an armoury of aggressive expansion plans, the restaurant sector (which is growing at 5-6% per annum) is now worth a huge Rs.430 billion! But strangely, there's generally never any kind of a brouhaha over this sector within India – no particularly data-heavy media reports, no statistics, no intrinsic analysis... So B&E decided to go one-up and bring a collation of the latest status of this industry, and the challenges that stand within.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
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Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face
IIPM – FLP (Flexi Learning Program)
