Fast-expanding food hall operator, Market Halls, plans to open its first venue in Wales.
As part of ambitious 海角视频 rollout plans the company, which in its last financial year to the end of July saw revenues climb 155% to £22m, aims to open two to three new venues annually over the next five years.
While unable at this stage to give the precise location of the planned outlet in Cardiff, it confirmed it is looking at a prime 20,000 sq ft location in the city centre. If a new venue in Cardiff is signed off it would create around 100 jobs and open next summer.
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On its latest financial founder and chief executive of Market Halls, Welshman Andy Lewis-Pratt, said; “To have seen the popularity of our venues surge despite the tough economic environment is testament to the strength of the Market Halls proposition. Our model is built to be resilient and it’s heartening to see the hard work of our teams paying off in numbers like these.”
The company currently has three food halls in London at Canary Wharf, Oxford Street and Victoria. The venues, which offer cuisines from around the world, primarily attract a young professional footfall.
As well as Cardiff, its other target cities include Birmingham, Brighton, Bristol, Liverpool, Leeds, Manchester, Glasgow and Edinburgh.
Market Halls said it has had a strong start to its current financial year, achieving consecutive record trading weeks and like-for-like sales growth in the first four trading weeks of 38%.
On the outlook Mr Lewis-Pratt said: “With the momentum we built through FY22 (financial year) and FY23 and the exceptionally strong start to FY24, we are confident in our ability to keep growing and becoming increasingly profitable as we work towards our goal of becoming the 海角视频’s largest food hall operator.”
Market Hall is backed by investor Gees Court Partners. Its founding partner Esat Kolege, said: ““Now that we have three great venues demonstrating solid unit economics and cash flow, we are looking forward to building an exciting line up of new venues and potential partnerships with independent food halls across the 海角视频.”