Executives of at least a dozen such chains told ET that the number of fine-dine e-restaurants, or restaurants without physical stores which only deliver and operate through cloud kitchens, will outpace growth of brick-and-mortar outlets in the next 12 months, despite dine-in reopenings.
›Covid infects lease pacts: Retailers say they will pay rent only in proportion to actual business in case of lockdowns
Covid infects lease pacts: Retailers say they will pay rent only in proportion to actual business in case of lockdowns
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Covid infects lease pacts: Retailers say they will pay rent only in proportion to actual business in case of lockdownsBy
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Synopsis
Amid last year’s nationwide lockdown and this year’s local lockdowns, retailers and restaurants have taken a massive hit, facing closure of outlets, huge losses and retrenchments.
PTI
Top retailers and restaurant chains such as Reliance Retail, Madura Fashion & Lifestyle, Domino’s, Plum by Bent Chair, Mamagoto, Farzi Cafe, Lee, Wrangler and Cafe Warehouse among others, are insisting on introducing clauses in all new leases that stipulate that they will not pay rent, or pay only in proportion to their actual business, in the event of government mandated closures of stores and malls.
Bread brand Modern Foods bought by Mexico s Grupo Bimbo
Modern bread holds around 35-40 per cent market share of the Indian bread market with a revenue of Rs 400 crore. Modern Foods competes with other bakery brands such as Harvest Gold, English Oven, Nature s Own and Britannia
BusinessToday.In | February 25, 2021 | Updated 18:12 IST
Iconic bread brand Modern Foods has been bought by Mexico s largest food and bakery company Grupo Bimbo from homegrown private equity fund Everstone Capital. Everstone had acquired the brand from Hindustan Unilever in 2016. Everstone s bread and bakery platform Everfoods Asia consists of Modern Bread brand as well as others like Cookie Man.