Giraffe, the Risk Capital Partners and 3i-backed restaurant group, is to focus on three core brands going forward, after deciding to stop the rollout of its Cafe format, which it launched last year.
The group, which is led by Russel Joffe, will concentrate on rolling out its “classic” Giraffe format, its new transport hub-focussed concept Stop and an evolved take on its burger brand called Burgers & Cocktails at Giraffe, with the first site under this new look set to open at the Xscape scheme in Castleford.
The group’s two cafe sites in Wimbledon and Hampstead, which were launched last July, will now revert to its traditional concept. It is also set to open a new flagship site under its traditional format in Bluewater this October.
The original Giraffe Burger & Cocktails outlet was launched last year on the site of the group;s Guerilla Burgers restaurant in St James’s. This will be converted to the new design complete with new logo in due course.
The group will retain is Bar & Grill format, which is has launched in Soho and Leeds but is looking to concentrate on the other three brands in regards to rollout going forwards.
It is understood to be already looking at a further transport hub location for the Stop format, after its launch earlier this year at King’s Cross. This site is believed to be going “really well”.
Earlier this year, the company reported a 17% rise in EBITDA to £4m for the 12 months to 25 March 2012, and said it had bank facilities available for further expansion and acquisition.
Turnover at the 47-strong group increased 18% from £34m to £40m during a year in which the chain opened four sites in Bath, Chelmsford, Sheffield’s Meadowhall scheme and London’s Stratford Westfield.
The chain expects to open up to six outlets in its current financial year and said it had a strong pipeline of new sites in place, with further outlet already secured at the £350m Trinity Leeds retail scheme that is set to open in 2013.
In May, the company signed a franchise deal with Emirates Leisure Retail (ELR) to open its first overseas site in the UAE later this year. The first site is expected to open in Dubai Airport. It is thought to have also signed a deal to open in Lebanon and is believed to be looking at further franchise opportunities in India and the Far East.
