Inamo poised for next stage of growth

Tech-focused Asian restaurant Inamo is looking to secure an equity partner to help fund the next stage of its growth.

The business, which has three sites in central London, is looking to open a further two over the next 18 months, as well as roll out the next iteration of its interactive technology.

Lee Skinner, chief executive, Inamo, told MCA the company had been working to develop the ordering and experiential game play technology it uses within its sites, and wanted to get that right before growing the business, by site number, any further.

“We now think we have got a really good model that is outperforming the market, and that we think is ready to start to get to a roll-out position,” he said.

The additional sites are likely to be located in central London, as Skinner said it makes sense to have a small nucleus of sites before expanding out further. In terms of location he said Inamo would consider the South Bank, Charing Cross and the City, for example.

The business is currently privately-funded but Inamo has been working with BTG Advisory to source an equity partner. “We are looking at a significant number in order to go and open another couple of London restaurants. We want a partner that will add to our business, add some experience and new ideas, but will work with us to continue to develop this brand into something that is market leading in terms of technology.”

Trading has been outperforming the market, said Skinner, with like-for-like sales up 15% for the year to 30 June 2019, with customer spend also up 8%. Some of the increase in spend has been down to the use of previously underused spaces to provide additional tech-based experiences for customers, he said.

For example, it added a ‘games room’ to its Soho site last year, in basement bar area, which contains a 150-inch wall projection that allows people to play games such as Nintendo Wii and karaoke. Following its success, it then added a games room into Covent Garden, which uses TV instead of projections.

In terms of further technological developments he said the business was looking to get rid of the mouse on the interactive screens on its tables – which allows you to play games and doodle on the table – and instead to make people’s fingers the control point, like with smartphone technology. It is currently testing out the technology and hopes to have it in place by the end of the year.