New restaurants and concepts are seen mushrooming in different parts of this city everyday while many more end up witnessing an uncalled for demise. This was reflected in KPMG’s ‘Recipe for Resilience’ report where there was a consistent and concerning trend of declining F&B performance seen pre-pandemic. More than 50% of operators surveyed in the report witnessed a decline in like-for-like (LFL) sales, for a few years in a row.
While some factors (such as the pandemic) can’t be controlled, many can. Which is why despite the many economic troughs and crises over the last two decades, some restaurants have managed to survive and thrive. They are the ones that watched the market, understood the gaps, and most importantly, learnt from the failures of others.
On this week’s Up-To-Data, we speak to the founder of Gates Hospitality, Naim Maadad.
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Lulu Retail, the GCC’s retail powerhouse, has reported a transformative FY 2024,
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