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Last Updated : Jul 10, 2020 09:44 PM IST | Source: Moneycontrol.com

COVID-19 impact: PVR plans to launch own food & beverage brand, to be available in stores, online

PVR has a wide range of F&B and it is not just popcorn and drinks. From live kitchen to menus crafted by celebrity chefs, PVR has been betting big on its F&B offering.

 
 
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Multiplex operator PVR is planning to come up with its own F&B (food and beverage) brand.

"F&B is about 30 percent of our total revenues. And F&B is one thing I want people to take back home. We will offer a good bouquet of proprietary food products, which people can buy in stores and online," PVR Chairman Ajay Bijli said during a webinar on the future of shopping and cinema.

Bijli said that currently he is working on three aspects – rescue, revival and reinvention. "One of the reinventions is that revenues can’t be there only when shutters are up; they should be there when shutters are down as well. Currently, F&B is getting consumed only in theatres and it is only popcorn that people are taking back home. So, I want a part of PVR to be taken out,” he asserted.

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PVR has a wide range of F&B and it is not just popcorn and drinks. From live kitchen to menus crafted by celebrity chefs, PVR has been betting big on its F&B offering.

According to an EY 2020 report, F&B segment remained the second biggest source of revenue for multiplexes, with gross margins typically between 70 and 75 percent.

“Globally, the ratio of ticketed and non-ticketed revenues is typically 1:1; whereas, in India, non-ticketed revenues are typically 40-50 percent of ticketed revenues for larger multiplex chains, indicating significant scope of future growth,” the report added.

Along with PVR, another cinema chain is taking its F&B offering to outside theatres.

Carnival Cinemas is setting up cloud kitchens at 100 of its theatres across the country, as it looks to generate revenues even as the screens are shut. Carnival is offering its in-cinema menu under the brands Movie Munches and Fresh Counter.

This will entail an investment of Rs 15 crore over the next two years, Carnival had announced recently.

In the first phase of the four-phased expansion, Carnival has set up cloud kitchens at nine locations in five states.

This includes cloud kitchens in Huma Kanjur Marg theatre in Mumbai, Green Field and Kariyad in Kerala, Bengaluru and Belgaum in Karnataka, Nasrani Jodhpur, Galaxy Jaipur in Rajasthan, and Allahabad and Varanasi in Uttar Pradesh.

In addition, eight more outlets will open in Mumbai and Pune in the next three months.
First Published on Jul 10, 2020 09:13 pm
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