The Chandigarh-based Alchemist Group is gearing up for a significant entry into the hospitality sector with an investment of Rs 1,300 crore over the next two years. This ambitious plan includes the establishment of a vast fine dining, quick service restaurant chain, and five-star hotels.
The Rs 7,000-crore conglomerate, which has diversified interests in real estate, food processing, healthcare, pharma, and aviation, aims to develop five brands specializing in various Indian cuisines. These brands will see the opening of 100 restaurants across Indian cities as well as international markets such as Geneva, Dubai, Los Angeles, New York, and Chicago.
As part of its debut in the food & beverage (F&B) retail sector, the Alchemist Group is also setting up 1,000 quick service restaurants (QSRs), under the brand name Republic of Chicken (ROC), across the country. The investment for this venture is estimated at Rs 800 crore.
The group, known as a quality supplier of safe poultry products, aims to maintain the same marketing strategy for the launch of ROC. Earlier this year, the group appointed actor Mithun Chakraborty as the brand ambassador. ROC will follow a franchise-based model, with outlets offering various formats, including takeaways and dine-in options. The company has identified strategic locations and will initially focus on rolling out the chain in North India, particularly in the NCR region. "We see great potential in F&B retail and will proceed independently in this venture," said Alchemist Group chairman Kanwar Deep Singh.
According to industry sources, the Indian food & beverage retail market is valued at Rs 25,000 crore and is growing at an annual rate of 25%. Additionally, the group plans to expand its hospital chain. Currently, Alchemist operates two hospitals, one in Gujarat and the other in Punjab, each costing Rs 100 crore to establish.