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Carnation Corporate Presentation Rollatainers Limited (BSE: 502448) Emerging Everyday Food Business August 2015 Table of Contents 1. Overview 3 2. Organisational Structure 4 3. Management Biographies 5 4. Industry Snapshot 7 5. Strategic Direction 9 6. Carnation Brands 10 7. Appendix 22 2 Overview Group Overview Recent Developments Rollatainers Limited has a longstanding presence in the consumer packaging industry, particularly as a supplier to the “Rollatainers’ and International Market Management Ltd’s FMCG sector. (“IMM”) 50:50 joint venture company, Sierra Nevada Pvt. Ltd., entered into a long term licensing agreement for setting up the Carnation Hospitality Private Limited (“Carnation” or “Food Wendy’s Restaurant franchise in India” business”) is a wholly owned subsidiary of Rollatainers and is August 27, 2014 engaged in the food business. “Carnation acquired Lavazza’s wholly owned subsidiary F&B Brands “Barista Coffee Company Ltd.”, which operates the second largest coffee chain in India with a presence in the UAE, Sri Carnation owns F&B businesses such as Lanka, Nepal, Bangladesh and Myanmar” • Barista, the coffee chain August 11, 2014 • Mapple Hospitality, supplies food to Mapple hotels and has substantial banqueting and B2B operations “Rollatainers’ and IMM’s 50:50 joint venture company, • Kylin chain of oriental cuisine dining Dolomite Restaurants Pvt. Ltd., entered into a long term development agreement with Jamie’s Italian International Also introduced global restaurant chains such as Ltd to operate Jamie’s restaurants across India” July 16, 2014 • Wendy’s, the third largest burger chain in the world • Jamie’s Italian, by celebrity chef Jamie Oliver “Carnation also acquired the Kylin restaurant chain, and the Mapple foods business” July 16, 2014 3 Overview Organisational Structure Rollatainers 49.99% Limited 100% IMM Associates Carnation RT Packaging Ltd (JV Partner) Hospitality Pvt Ltd Sierra Nevada Dolomite Barista Coffee Mapple Hospitality Welgrow Hotel Restaurants Pvt Ltd Restaurants Pvt Ltd Company Ltd Pvt Ltd Concepts Pvt Ltd 4 Organisational Structure Management Biographies • Sanjay is an entrepreneur and co-founder of Mapple Hospitality • He also has extensive experience in the fields of engineering, marketing & project implementation Sanjay Chhabra • Before venturing into entrepreneurship, he worked with engineering major Larsen & Toubro for over 7 Managing Director – Carnation years • Sanjay is an engineer from IIT Delhi and holds an MBA from Jamnalal Bajaj Institute, Mumbai • Saurabh has vast experience of over two decades in the F&B & travel sector in India Saurabh Khanijo • Has successfully managed the establishment & expansion of the "Kylin" brand in North India Director - Carnation • Saurabh holds a Masters degree in Business Administration • Jasper is the co-founder of IMM, where he led the establishment of Pizza Express in India and its operating Jasper Reid business (Asia Brand Partners & Greater Pacific Restaurant Corp) Co-Chief Executive Officer – Wendy's • Has over 20 years of experience across developed & emerging markets & Jamie's • He previously worked with Macquarie Group as Managing Director • Jasper holds a Masters degree from Oxford University • Sanjeev has over 23 years of experience in advertising, sales, marketing & general management • He has been associated with companies such as Topps Company Inc., McDonald’s India, McCann Erickson Sanjeev Katyal and FCB Ulka Chief Executive Officer - Barista • He holds a Commerce Degree from Delhi University and Executive Management Degree from National Business School of Singapore and Hamburger University, USA • Arvind has over 20 years of experience in Operations in the F&B industry in India Arvind Dixit • He has worked with Connaught Plaza, McDonald’s North India franchisee, as Director of Operations Chief Operating Officer – Wendy's • Arvind is a graduate from IHM, Pusa 5 Management Biographies Management Biographies • Mandeep has extensive experience in F&B and retail sector in India Mandeep Sethi • He has worked with McDonald’s India for more than 11 years Vice President (Operations) – Jamie's • Has also worked with Future Retail and Mondelez India Pizzeria • Mandeep holds a degree in Hotel Management and Executive MBA from IIM, Kolkata • Kunal has over 15 years of experience in the F&B retail sector in India Kunal Dewan • Has worked with leading brands such as Pizza Hut and KFC in India and Subway in the UK Vice President (Operations) – Jamie's • Kunal also worked with Amici as Head of Operations, where he scaled up the business from a single store to Italian a chain of stores • More recently, he was leading the development of Zizo, a new fast casual brand • Sanjay has over 27 years of experience managing hotel & food services business • He is the co-founder of the Mapple Hospitality chain of hotels Sanjay Wadhawan • He started his career with Usha Group, where he worked with their consumer packaging business, as well as Joint Managing Director - Mapple their master franchise operations for Choice Hotels • Sanjay is a commerce graduate from Hindu College, University of Delhi • Rajat has over 10 years of experience in financial consulting with majors like Ernst & Young, Deloitte and Rajat Agrawal Grant Thornton AVP – Corporate Finance • He has been involved in transactions spanning across F&B • Rajat is a Chartered Accountant by profession and holds a bachelors in commerce 6 Management Biographies Industry Snapshot 2013 Market Size 2018 Market Size Pubs, Bars, Pubs, Bars, Fine Clubs and Fine Clubs and Dining Lounges Quick Dining Lounges Service CAGR 21% Cafes 3% Cafes 4% 4% 2% Quick 46% 12% 13% Service 54% Casual Industry size Industry size Dining Rs. 12,010 Cr Sales Casual Rs. 32,000 Cr Sales 33% Dining 29% Mkt Size % of 2013-18 Category (Rs. Cr) Total CAGR Growth Opportunity • Expansion into Tier I and Tier II cities Quick Service 5,500 46% • Increasing preference for convenience food 25% • Innovation in menu and offerings to suit local tastes and preferences • India per capita coffee consumption 80 gm vs 8 kg in developed countries • Cafes 1,520 13% 20% Growing preference for coffee in India • Consistent growth of consuming class • Increase in number of nuclear families and working women Casual Dining 3,950 33% 18% • Steady growth in incomes, changing lifestyle and eating patterns • Increasing preference for new cuisines from around the world Source: Teknopak Advisors 7 Industry Snapshot Favorable Industry Backdrop Favorable Demographics Eating out ratio (times / month) Thailand 45 Rising Number of Working Women Singapore 40 US 25 Lifestyle Changes UK 20 Indonesia 15 India 2 Increasing Income and Consumption Levels - 20 40 60 Source: National Restaurant Association of India Urbanization Fast food consumption, by age group Above 18-20 Hygiene-conscious Customer 40 years years 18% 11% Increasing Preference for New Cuisines 31-40 years 21-30 Rising Number of Malls & Multiplexes 31% years 40% Logistics Providers and Contract Cultivation Source: Athena Infonomics 8 Industry Snapshot Strategic Direction Capitalise on the growth potential in the Indian food industry 1 Create a basket of highly valued food brands with quality food 2 Unique positioning for each brand to build a scalable business model 3 Build synergies across brands by sharing best practices 4 Being a cut above at competitive price points 5 Be an employer of choice 9 9 Strategic Direction Overview • Second largest coffee chain in India • Presence in UAE, Sri Lanka, Nepal, Bangladesh, Myanmar • Close to 180 stores including 21 outside India • Focus on high streets, malls and corporate offices • Targeting 750 stores by FY2020 Strategy and Outlook Simplify store formats and refresh the brand Improve customer experience Enhance products and service offerings New store strategy to focus on key tier one / two cities Economies from centralised operations Rewarding franchise model 10 10 Carnation Brands Turnaround Strategy Existing stores New Stores Franchise operations Brand monetisation • Revenue sustenance and • New store formats catering • Undertake domestic & • Enhanced brand experience enhancement at existing to target customers international expansion through extensive brand stores though extensive • Own store expansion in high through franchise route for repositioning effort rebranding effort to attract footfall areas incremental growth • Brand monetisation through customers • Revamped location selection • Develop robust franchise retailing of branded • Cost optimization to reduce strategy strategy packaged products (Ready- expenses and enhance • Develop enhanced selection To-Eat & Ready-To-Drink profitability criteria for franchise products) operators Intervention Currently Being Undertaken • Closure of loss making stores which cant be turnaround • Launch of new marketing & branding initiatives to reposition Barista vis- à-vis competition • Strict financial monitoring with regular store checks • Separate franchise & staff training department established to improve • Optimization and rationalisation of costs to minimize of food wastage store management & service 11 11 Carnation Brands The New Look 12 12 Carnation Brands The New Menu Source: Prices stated above are indicative 13 13 Carnation Brands The New Positioning 14 14 Carnation Brands Post Acquisition Growth Average Daily Sales Average Daily Tickets City Same Store Change (%) City Same Store Change (%) Sep ‘14 vs Jul’15 Sep ‘14 vs Jul’15 Chennai 11% Chennai 3% Delhi & NCR 11% Delhi & NCR 8% Hyderabad 9% Hyderabad 9% Mumbai 9% Mumbai 8% Bangalore 2%
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