-KH News Desk (cbdigital@imaws.org)
By the end of 2023, Curefoods intends to raise the number of Nomad’s physical stores to over ten as it seeks to improve revenues by utilising an omnichannel strategy. The firm will also increase the number of outlets under its biryani brand, which is marketed as a family-friendly restaurant with reasonable prices, from 15 to 30 during this time.
A typical Nomad outlet is a 50- to 70-seater. The business only intends to open Nomad stores in India’s top 10 cities, including Delhi, Mumbai, Bengaluru, and Hyderabad.
Presently, Curefoods runs a few of its businesses, such Rolls on Wheels, out of little kiosks scattered across a city. However, the firm that also runs well-known brands like EatFit, a distributor of nutritious food, and Sharief Bhai, which creates biryanis, has a different strategy for Nomad, which will be a premium play.
“We started the pizza business during the pandemic. Then it was very clear that we had to have an ‘Internet first’ approach. So, we built around that. On December 31, 2021, we clocked our highest numbers ever, where order volumes were about 4-5X of BAU. But on December 31, 2022, because the world was open, we did not see that 4-5X; there was a spike of only 2-3X over BAU,” shares Ankit Nagori, the founder of the company.
When explaining how the company increased sales by going offline, Nagori stated that each time the company launched a new Sharief Bhai store, online sales increased by 10% due to a greater brand memory, and the physical restaurant generated an additional 30%–40% revenue.
Compared to Domino’s, where the average order value is roughly Rs. 500, Nomad’s average order value is about Rs.1200. As Domino’s and Pizza Hut expand their premium category, Nomad is forced to compete less with them and more with domestic boutique pizzerias.
“There will always be people who will eat the Domino’s Gourmet pizza, and it will be 10X the volume at any other small boutique brand like ours. But then the boutique brands offer some level of premiumisation and exclusivity. People want to try a new place every weekend, and that’s what we want to capitalise on,” states Nagori.
