Private equity investor, India Value Fund Advisors has just announced that it will be investing Rs. 190 crore in DeGustibus Hospitality. Does DeGustibus Hospitality not ring a bell? Well, perhaps the brand that it operates will; think of Indigo, Indigo Deli, Neel and Tote on the Turf.
DeGustibus operates 15 F & B outlets in both Mumbai and Delhi. This funding will allow the brand to add more outlets, as well as expand into other cities. “Disposable incomes are on the rise in tier II and III cities, and there are large enough pockets of people in such towns who are exposed to such cuisines, creating significant demand for these fine dining restaurants to tap into,” said Ravi Wazir, a hospitality business consultant in Mumbai to LiveMint, explaining why large amounts of money are being invested into fine dining. “Customers are becoming more aware of the health benefits of freshly cooked meals. They value fresh food and are ready to pay more for it,” Wazir added.
Indeed, it seems like a glittering road ahead for DeGustibus Hospitality, of which one of its flagship restaurants, Indigo Deli, just celebrated a decade (read our feature here). We hope to see the company’s brands expanding into other cities, don’t you?