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Kishore Biyani's daughters, Avni Biyani Jhunjhunwala and Ashni Biyani, are returning to the food retail business with a new venture called Food Stories. This gourmet food and experiential retail concept is similar to their previous company Foodhall.
Food Stories will launch its first store later this week at Ambience Mall in New Delhi. The Biyanis had previously founded Foodhall in 2011, operating it as a premium food chain selling imported items like cheese and condiments from Palladium Mall in Mumbai.
The new venture will sell artisanal foods such as cheeses, condiments, fresh produce, and packaged items like spices, oils, and snacks. Both imported and domestic brands will be featured. It will also begin e-commerce operations in Delhi later this year. The inaugural Delhi store will span 10,000 square feet and include a 30-seat cafe serving organic coffee and luxury chocolate experiences alongside cheese and spices.
The sisters are venturing back into food retail as demand rises for specialized foods and wellness products. Their return also coincides with increased popularity of premium food options. Food Stories is being established through a separate entity funded by the Narottam Sekhsaria family office in Mumbai.
In the past, the Foodhall chain operated 10 stores across India before shutting down all locations by 2023 due to insolvency issues at parent company Future Retail. This launch marks the family's re-entry into the food business following failures to sell off debt-ridden consumer divisions impacted by the pandemic.
According to reports, the Biyani sisters are also planning to launch another retail concept under Broadway to empower digital-first brands with stores in prime malls. These experiential stores will house more than 100 new-age brands and over a 1000 products. Additionally, the sisters have set up Think9 Consumer Technologies recently, which promotes and develops digitally native brands. The multi-brand platform works with brands across consumption categories like fashion, food and wellness, beauty, and home and decor. Its portfolio comprises brands such as apparel brand Kingdom of White, Italian snacking brand Sorrentina, wellness brand The Good Bug, and personal care brand Beauty in Everything (BIE).
Many companies are now targeting affluent Indian consumers spending on luxury items, making the premium food market more competitive for the Biyani sisters. For example, Spencer's Retail plans to expand its upmarket grocery chain Nature's Basket Pantry in Mumbai and Kolkata. Several local gourmet brands such as Le Marche and Modern Bazaar also appeal to high-end shoppers in various metro areas.
India's food and grocery retail market is stated to be around USD 600 billion in 2022, occupying the largest chunk of retail in India. The market is set to touch USD 1,230 billion by 2023, according to a 2023 report by Deloitte.
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