Business

Monday December 31, 2007

Franchisee sees RM31m sales from Tony Roma’s

By SHANNEN WONG



GRANDPOLITAN Sdn Bhd, the exclusive franchisee of American restaurant chain Tony Roma's, is targeting gross revenue of RM31mil from four outlets in Malaysia for the year ending Dec 31, 2008.

The fourth outlet would open in Mid Valley's The Gardens next month and Tony Roma's was estimated to contribute about 33% of group revenue, managing director George Ang told StarBiz.

He said Grandpolitan, a subsidiary of Revenue Valley Sdn Bhd, was looking at a 30% year-on-year growth for both Tony Roma's and the group's overall turnover.

He added that these numbers were achievable, given that the group had grown by more than 60% year-on-year this year (FY07).

»The outlook is positive for the F&B industry« GEORGE A
“We will continue to look for good locations to open Tony Roma's restaurants, and plan to open an outstation outlet by the end of next year,” Ang said, adding that Revenue Valley was also on the lookout for other great brands to expand in Malaysia.

Ang said Revenue Valley would expand its other restaurant concepts, including Sushigroove and Manhattan Fish Market (MFM), adding that the group was opening one MFM outlet per month.

“The outlook is positive for the food and beverage industry, especially in the casual dining sector.

“Tony Roma's competes well in the local market as it offers authentic American cuisine with a strong emphasis on quality and taste,” he said.

He added that Tony Roma's had managed to garner loyal customers, an indication of the brand's acceptance and strength.

Romacorp Inc president Kenneth L. Myers said the business of Tony Roma's was 50% international and 50% based in the US market.

Myers estimated the total gross revenue for Tony Roma's for the financial year ending 2008 at US$400mil.

“We are looking to venture into India, Vietnam and Russia in three to five years,'' he said after the launch Tony Roma's third outlet in Pavillion KL.

Romacorp is the operator of more than 230 Tony Roma's restaurants in 27 countries.

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