 What
would be the role of wines in the new restaurant?
AD: The new restaurant will serve gourmet type of food where food
and wine will be high end products including the presentation,
price point and experience.
What happened to your deal with the Forum restaurant
which has shut down?
AD: Everything had been finalized. We had even taken over from
Forum. But there was some hassle between the landlord and the
lessee and we didn’t think it would work for us. So we let
go of that project.
How is the Mumbai Olive doing?
AD: I must say that things have really improved since last November
after we made Max (from Italy) the head chef. It took a few months
for him to get the rhythm but now things are going great. He has
got the Bollywood Brigade coming in every night.
And the Olive Beach Bangalore?
AD: We have probably India’s best young chef working with
us there. Mony Chandra used to be Chef de Cuisine under our earlier
chef who has shifted to Australia. He is an expert in Mediterranean
cuisine and is extremely popular with our clientele.
Thankfully, these two properties have been rocking and have helped
us recover some of the financial losses in Delhi?
How much have you been losing every month?
AD: I would say between Rs.1-1.5 million every month. These are
actual out-of- pockets, and we are not talking about the loss
of profits. Most of these losses have been towards the staff salaries.
What have you done with the old staff in Delhi?
AD: All our top and second rung and even third rung staff have
remained with us. Sunil, Mohit, Anirban, Ashish are all with us.
We have used some of the staff in our Mumbai and Bangalore properties
and also for training and outdoor catering facility, we started.
They will now reap the benefits of staying because with the expansion
we are planning, they will get quicker promotions.
Who is handling the Olive Mobile Kitchen?
AD: Anirban is handling it. We have also brought in two senior
managers from the hotel industry. We are very serious about this
part of our business.
How much catering are you handling at the moment?
AD: Oh, I’d say, twice a week.
What cuisine are you specializing in?
AD: Obviously, Mediterranean food is our USP. But when presentation,
and quality service is required, we do have our team to prepare
any cuisine. For instance, the first party we did was for a minister.
It was Indian food for 40 people. The host told us that it had
been the best party he has had in a long time. Our multi skill
team really comes in handy.
How much do you charge for your catering?
AD: Our rack rates are Rs.1200-1400. But we do give attractive
introductory rates on a case to case basis. We also do special
events. For example, we organised a party for a car company in
Chandigarh for a launch for 80-90 people. We charged them Rs.
2500 a head.
What about your hotel project that one hears about?
AD: We do plan to open a boutique hotel. It will not be Olive,
but a new brand.
Have you decided upon the location?
AD: We are looking at Bangalore right now. We are slightly confused
whether we should buy land and build on it, lease land and build
on it or lease 3-4 floors in an existing building.
Have you got a time framework in mind?
AD: It will be end 2008- mid 2009.
What do you think of Delhi as the restaurant market in
India?
AD: I am sure Delhi is the best market in India. The restaurant
culture is here to stay and the city offers the best opportunities.
Don’t you think high real estate prices are a deterrent
to a good business model?
AD: The real explosion in prices has occurred during the last
one or two years only and I am sure the prices will come down.
Yes, right now things could be a bit tight.
Are you not feeling the heat?
AD: Yes, to some extent. But we do get some preferential treatment
form landlords due to our name and image. But malls are another
option which can be a good venue resource. We are talking to one
mall who is very interested in us. In fact, we may be the anchor
tenant for it. Due to the stand-alone properties getting too high
priced, malls are the new areas where the restaurants will come
up.
Do you take the premises on regular lease too.?
We feel we are paying 35-40% more than what we think is the fair
price. But we still like to work with landlords on a sharing basis
as they are locked in with us and our progress. They may make
2-3 times the flat rent they would get otherwise, but we are happy
for them to grow with us.
Do you know, right now the property owner will make more
money than we would!
But I can tell you that the quality of restaurants will get better
and better in the malls, the way things are right now.
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