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 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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