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Premium dining firm Massive Restaurants will invest nearly Rs 50 crore to expand owned restaurants.
Massive, which owns brands such as Masala Library, Pa Pa Ya, Farzi Café and Made in Punjab, plans to open 12 restaurants in 2019-2020, of which seven will be in India and the rest abroad, said managing director Zorawar Kalra.
A further eight will be franchisee owned and will take the brand to tier-II cities, Kalra told ET.
In 2017, private equity fund Gaja Capital invested Rs 160 crore in Massive Restaurants. The restaurant chain, founded in 2013, previously raised Rs 60 crore from Everstone Capital that has also invested in Burger King India.
Massive recently set up its 'cuisine agnostic' millennial brand 'YOUnion' in Mumbai. It will take that concept to other cities, Kalra said.
“Our focus is on the millennial customer who values experience a lot. We will be expanding our 'YOUnion' concept to attract this social media savvy customer," he said, adding that innovation was its biggest differentiator.
'Made In Punjab' has shown strong double-digit growth, he said.
The organised foodservice market is estimated to have touched Rs 1,48,353 crore in 2018-19, according to a report by the National Restaurant Association of India (NRAI).