INDIA. Lite Bite Foods has won the food & beverage (F&B) master concessionaire contract at Indore, Kannur, Calicut and Bhubaneshwar airports, after striking a deal with Airports Authority of India.
The contract meets the company’s aim to increase its presence across emerging tier 2 cities as it bids to diversify its concessions portfolio.
Lite Bite Foods will be responsible for the operation and management of the F&B outlets and plans to invest INR60 crores (US$9 million) within the first six months. The company expects to begin operations by July this year.
“The Indian traveller’s expectations from a regular air-travel experience have evolved. There is no single profile of a traveller and no cookie-cutter approach that satisfies all,” said the company.
Lite Bite Foods will offer diverse food options including brands such as Street Foods by Punjab Grill, Baker Street, Clink Bar and Naashto. It will also offer franchisee outlets for popular fast food brands such as KFC and Subway.
Expansion plans
Lite Bite Foods aims to strengthen and grow its presence across Indian airports via existing contracts and by bidding for new opportunities. The company is scaling its operations at Mumbai, Pune, Jammu, Ahmedabad and Bangalore airports.
Lite Bite Foods aims to grow into a substantial multinational corporation over the next five years in line with the boom in Indian aviation. An increase in air travel alongside the Indian government’s commitment to improve connectivity and travel quality across India offers a lucrative opportunity for the F&B sector, the company said.
Lite Bite Foods’ vision is to become India’s largest F&B player within the travel segment. The company already operates at the country’s busiest airports in Delhi, Bangalore, Goa and Mumbai, where it owns nearly 80% of F&B operations.
Lite Bite Foods Group Director Rohit Aggarwal commented: “Air travel in India is no longer a medium to get from one place to another. It is an all-inclusive experience. Irrespective of the reason for the journey, every traveller expects to have his or her needs catered to in the best possible manner and the retail and F&B options remain integral to this experience.
“The traveller from the emerging tier 2 cities in India is also evolving and offers an immense opportunity to build brand awareness and loyalty.
“As an established player within the travel F&B sector, we hope to leverage our existing expertise and credibility to not only enter the tier 2 segment but continue to aggressively grow to eventually lead the segment by creating a benchmark that does not simply match but exceeds the expectation of every traveller across India.”
Lite Bite Foods Group Chairman Amit Burman added:
“Lite Bite Foods with its extensive portfolio that consists of some of the most iconic Indian F&B brands is already an established player within the traditional F&B segment. However true to its culture of innovation, Lite Bite Foods is constantly seeking new avenues and channels to grow.
“The fast-growing Indian aviation sector offers a lucrative opportunity to further strengthen the brand by developing a new category of F&B outlets across airports.
“As one of the initial players within this category. We have already secured a strong foothold in the busier metro and tier 1 markets and are now looking to leverage our first-mover advantage to further diversify our portfolio and penetrate the fast-emerging tier 2 markets that offer substantial opportunity to enhance both revenues as well as brand value.”
