Mumbai-based Chrome Hospitality is making a bold move into the concept restaurant sector, aiming to open 12 outlets by 2025 with an investment of INR 35 crore, as revealed by a senior executive.
Earlier this year, the company had ventured into the boutique hospitality sector with Bhumi Pednekar.
With Gigi, Chrome Asia Hospitality will place a strong emphasis on incorporating fresh local produce, seasonal seafood, and cheeses sourced globally, as well as showcasing locally grown brands from across India.
“We have always aimed to expand our footprint beyond the threshold of conventional dining. We want to deliver more and more unique concepts that excite our customers, and Gigi is our latest attempt at doing just that,” said Pawan Shahri, Co-Founder, Chrome Asia Hospitality.
The hospitality industry in India is witnessing rapid growth, fueled by an increasing demand for innovative and improved concepts.
“We aim to scale Gigi globally. By 2025, we aim to open five new outlets across metros and select global locations starting with Dubai. By 2025, we will be investing close to INR 35 crore in brand Gigi with an ROI close to 30% on each outlet,” said Shahri.
Earlier this year, Chrome Asia Hospitality unveiled its expansion strategy, envisioning the addition of five new brands across various formats, and a concurrent enhancement of the existing brands’ market presence.
The company had declared its intention to invest INR 50 crore in the fiscal year 2023-24 to introduce five new brands and open eight additional outlets.
“Chrome Asia Hospitality has delivered the finest of restaurants over the past few years and we are thrilled to be a part of their journey with Gigi Mumbai,” said Afsana Verma, Investor, Gigi Mumbai.
Established by Pawan Shahri, Dhaval Udeshi, and Nikita Shahri, Chrome Hospitality has firmly established itself in Mumbai’s all-day casual dining scene. Under the Chrome Hospitality umbrella, the brand has successfully developed 100,000 square feet of hospitality space in India and launched five new restaurants in Mumbai.