Mumbai:
The increasing prices of food items has forced Mumbai-based 'vada paav' kiosk chain Jumbo King to increase its menu prices by 15 per cent, a top company official said.
"We have increased our menu prices by 15 per cent since this month due to increase in prices of essential commodities like potatoes, wheat, besan (gram flour) and oil among others," Jumbo King's Managing Director, Dheeraj Gupta said here.
"The hike was necessitated as we do not want to compromise on quality. Prices of all essential commodities have doubled. It is less likely that the prices will decrease but if it decreases we will also follow the same," Gupta said.
Jumbo King adds every new sub categories in their 'vada paav' menu every three-four months but is taking cautious steps in this direction. "As we add new product once in 3-4 months we try it out at one particular outlet first and if the response is good we take it to 5-10 stores and then to the remaining stores," Gupta said.
According to him, the company will continue to grow at the same rate as last year. "The growth figures of the company are more or less same than last year. In 2008-09 we saw a growth of 20 per cent and for 2009-10 we expect 15-20 per cent growth," he said.
For 2009-10 we expect revenue of Rs 15 crore. The revenue for the year 2008-09 was Rs 12.5 crore, he said.
"We have increased our menu prices by 15 per cent since this month due to increase in prices of essential commodities like potatoes, wheat, besan (gram flour) and oil among others," Jumbo King's Managing Director, Dheeraj Gupta said here.
"The hike was necessitated as we do not want to compromise on quality. Prices of all essential commodities have doubled. It is less likely that the prices will decrease but if it decreases we will also follow the same," Gupta said.
Jumbo King adds every new sub categories in their 'vada paav' menu every three-four months but is taking cautious steps in this direction. "As we add new product once in 3-4 months we try it out at one particular outlet first and if the response is good we take it to 5-10 stores and then to the remaining stores," Gupta said.
According to him, the company will continue to grow at the same rate as last year. "The growth figures of the company are more or less same than last year. In 2008-09 we saw a growth of 20 per cent and for 2009-10 we expect 15-20 per cent growth," he said.
For 2009-10 we expect revenue of Rs 15 crore. The revenue for the year 2008-09 was Rs 12.5 crore, he said.
