Italian poke restaurant chain Poke House is looking to launch an IPO in the UK as part of its plans to open 65 sites in the region over the next two years.
The business, which acquired London-based Ahi Poke last year, opened its first site in the UK in September 2021 and currently operates six restaurants and four dark kitchens in the UK including the Ahi Poke sites it has rebranded.
These form part of its current estate of 75 sites across Europe (Italy, France, Spain and Portugal), with an investment deal just announced with American poke restaurant brand Sweetfin that will enable further expansion.
Poke House will support the development of Sweefin in the US, with 40 new openings planned over the next few years on the West Coast, Texas and Arizona.
Describing itself as a foodtech company, Poke House was launched at the end of 2018 by entrepreneurs Matteo Pichi and Vittoria Zanetti. It ended 2021 with annual revenues of around £33m, with projections for this to reach £83m in 2022.
“Poke House’s success is based on a hybrid model, halfway between retail and digital. Our technological component plays a fundamental role in our online services, helping to optimise the customer experience,” explained co-founder and CEO Pichi.
“Key elements include the proprietary CRM software, with a loyalty program we created, that allows us to pursue a data-driven approach, that can quickly intercept consumption trends and adapt offers not only to an individual city, but even an individual store.”
Pichi said that as the business grows globally it is “hoping to move forward with an IPO in both New York and London”.
