Panchkula to get India's First Domestic Fried Chicken Outlet - BANGS

Plans to have 500 outlets pan India in the next 5 years. End Quote

Indianapolis, IN (1888PressRelease) August 24, 2012 - Domestic Fried Chicken chain BANGS! is introducing its exclusive food outlet launch at Panchkula : DSS 262, Sector -20, Haryana, on August 24th, 2012 at 11.30am. Bangs Fried Chicken is Chennai based QSR chain currently operating 35 outlets including 22 franchisees, offering a wide range menu with reasonable price. Bangs showcase its first outlet launch at Panchkula.

The newly launched restaurant is spread over 1000 square feet situated at Sector -20, Panchkula. This fast food outlet would offer the consumers delicious range of food, like; yummy tasty Burger Veg & Non Veg, Fired Chicken, Chicken Popcorn, lip smacking Veg & Non-Veg Nuggets, Creamy Veg Salad, Pastas and Wraps with Lusty Lime, Choco Triple Sec & Choco Brownie Blast Drinks.

On this occasion, Mr Asvin Simon, Director, Bangs opined "Panchkula a satellite city of the Union Territory of Chandigarh and is part of Chandigarh Capital Region is considered as the heaven for lovers of food. The Indian food and beverages market is expanding rapidly and is projected to grow at a compound annual growth rate (CAGR) of about 7.5 per cent during 2009-13 and would touch US$ 330 billion by 2013. The food retail industry, currently at US$ 70 billion is predicted to grow more than double to US$ 150 billion by 2025. India's food retail industry is poised for exponential growth. With the evolution of innovative food processing capacity and the emergence of organized retail, change in consumption patterns along with fast changing demographics and habits is fuelling the next growth trajectory for the food industry in India. The Indian fast food market is growing at an annual rate of 25-30%."

"There is a tremendous potential in this industry Regionally, Nationally & Internationally. We are delighted to have the facilities to support our expansion plans. It is a very exciting phase for us and through leveraging our strengths, which include our greater understanding of the region's aesthetic and cultural sensibilities we look forward to successfully catering the changing demands of this dynamic industry and aim to bring a world-class Quick Service Restaurant to the people. ", added Mr. Simon

About the expansion plans, Bangs has plans to open 500 outlets across the country in the next five years, of which 100 will be company owned while the rest 400 will be franchise outlets. The company plans to raise Rs 20 crore through private equity to fund setting up the company-owned outlets. For the franchise model, the average investment is around Rs 20-25 lakh, Asvin Simon further added. With an annual turnover of Rs 18 crore, Bangs is aiming to take its store count to 70 by the end of this year. By next year, the company is planning to have 180-200 outlets across the country.
Bangs is also planning to make overseas entry with the launch of its first outlet in Doha ( Qatar ) soon. Plans are also underway to open three outlets in Doha by the end of this year. Initially, the company will target the Middle East only. For expansion in international markets, Bangs will either form joint ventures or enter into franchise deals.

ABOUT BANGS!

Bangs is India's first domestic spiced flavoured fried chicken brand which came into existence in Chennai in the year 2009. The company's Founder Asvin Simon, owing to a passion for fast food, thought of banging the fast food market with a new kind of twist in the menu and came up with the idea of launching Bangs. The company, which started with a small kiosk in just 80 sq.ft area, is now present across more than 13 states, including Gujarat, Punjab, Uttar Pradesh, Tamil Nadu, Karnataka, Bihar, Madhya Pradesh, Maharashtra, Haryana, Himachal Pradesh, Andhra Pradesh and Rajasthan, through 35 plus outlets. Bangs have planned to open 12 more outlets by the end of this year. These outlets are a mix of three types of formats - restaurant, kiosk and express.

For further media information: Please contact, Ms Ruchika M Wadhwa | 09999715257 | ruchika ( @ ) bangsindia dot com

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