PastaMania, a chain of Italian fast food restaurants from Singapore, is venturing into India. Essence Retail Ventures Pvt Ltd, the master franchisee of PastaMania in India, has tied up with Delhi-based Franchise India Holdings Ltd for this foray. Franchise India has recently picked up 50 per cent stake in the joint venture company to help PastaMania set up a national footprint.
PastaMania, a brand owned by PastaMatrix International Pte Ltd., Singapore, has established a significant presence in South East Asia with outlets in Singapore, Indonesia, Malaysia, Dubai and Kuwait, and is now eyeing the Indian market in a big way.
Gaurav Marya, President, Franchise India Holdings Ltd, said, “The acquisition is the first step of Franchise India’s long term goal of investing into companies and ventures with potential and create sizable assets by adding value to it over a few years by offering a gamut of innovative services.”
Abhay Bengeri, Director of Essence Retail Ventures, said, “To cater to the growing aspirational demand for international brands, especially in metros and mini-metros, and at the same time to create a distinct new product category, PastaMania seemed the perfect fit. Our association with Franchise India will help in systematic and structured rollout of the brand.”
PastaMania has huge expansion plans in India and is eyeing 50 stores in metros and mini-metros by 2012. The chain has already opened outlets in Gurgaon, Pune and Ahmedabad, with the Ahmedabad outlet being the world’s first pure vegetarian PastaMania outlet.
PastaMania India is a joint venture between Essence Retail Ventures Pvt Ltd and Franchise India Holdings Ltd. The primary team comprising operations, marketing, MIS, etc., have received hands on training at Singapore.