Permanently Unique Set to Introduce Fenix and Louis Restaurants in London
Permanently Unique Set to Make Waves in London's Dining Scene
In an exciting development for food enthusiasts and investors alike, Permanently Unique, the dynamic hospitality group known for its upscale dining concepts, is gearing up to launch two new additions to London’s thriving restaurant landscape. Renowned for their acclaimed Chinese restaurant brand Tattu, their innovative approach to dining has garnered a dedicated following. This time around, they’re working on bringing two new restaurants—Fenix and Louis—to the heart of the UK capital.
The company, which proudly hails from Manchester, is currently in negotiations to secure a prime location in London for Fenix. Meanwhile, they’ve earmarked a ‘landmark location’ for Louis, expected to welcome its first guests by summer 2025. This ambitious expansion into London reflects the group’s broader strategy to extend their footprint while maintaining a commitment to high-quality dining experiences.
A Solid Foundation for Growth
The group’s latest plans come on the back of a robust financial update covering the year ending December 31, 2023. Permanently Unique announced that they have secured a new £15 million revolving credit facility with their long-standing banking partner, NatWest. This capital injection is aimed at funding their upcoming expansion projects, clearly demonstrating their intent to scale their operations amidst a competitive restaurant landscape.
According to their financial report, 2023 was a pivotal year focused on laying solid foundations for future growth. The company reported a remarkable 10% increase in revenue from existing sites, totaling £29 million, with a corresponding 11% rise in site EBITDA to £7.5 million. These figures come despite facing challenging inflationary pressures, particularly in energy costs—a testament to the group’s resilience and strategic planning.
Strong Performance Amidst Economic Challenges
Permanently Unique’s underlying EBITDA rose 14.9% to £5.4 million, reflecting improved gross margins and an overall increase in efficiency. The group’s first introduction of Fenix in Manchester’s St. John development back in November 2023 has already made a substantial contribution to its performance, indicating a promising start for the new restaurant.
Adam Jones, co-founder and chairman of Permanently Unique, commented on the year’s achievements. He emphasized the importance of creating an environment conducive to growth, both for their teams and supply chain partners. His remarks underscore the commitment to fostering collaborative relationships that can help navigate external challenges more effectively.
Looking Ahead: Expanding Horizons
As the momentum builds into 2024, Permanently Unique is not slowing down. Revenue and profit performance continues to rise, with projections nearing £40 million and site EBITDA expected to soar by over 30% to more than £10 million. This upward trajectory signals a strong market response to their dining experiences and strategic expansion in new geographical areas.
The recent launch of the Louis restaurant in Hardman Square, Spinningfields, Manchester, has proven to be a resounding success. The reception has been overwhelmingly positive, signaling that Permanently Unique is successfully tapping into the local market’s appetite for high-end dining experiences.
The Dubai Horizon
In an intriguing twist, Permanently Unique is also paving the way for its first international location. The renowned Tattu brand will open its doors in Dubai during summer 2025. With Dubai being a global hub for culinary innovation and tourism, this venture further signifies Permanently Unique’s ambition to position itself on the international stage, aiming to attract a diverse clientele and expand its brand recognition beyond the UK.
As dining culture continues to evolve, moving towards unique and curated experiences, Permanently Unique positions itself well to capture the imagination of discerning diners and tourists alike. Their dedication to quality, innovation, and a solid brand presence will likely serve them well in this highly competitive market.
The Bigger Picture
Permanently Unique’s growth is reflective of broader trends in the hospitality sector, where there is a rising demand for high-quality, unique dining experiences. With London’s culinary scene continually evolving, the addition of Fenix and Louis could not only fill specific market niches but also contribute to the revitalization of post-pandemic dining experiences across the city.
As they embark on this exciting journey, Permanently Unique’s story is a reminder of the resilience and creativity present within the hospitality industry. There’s no denying that London’s dining scene is about to become even more compelling as these two new establishments prepare to make their mark.
For those who follow the dynamic world of restaurant trends and economic growth, Permanently Unique’s trajectory makes for an inspiring case study in strategic planning, financial management, and customer engagement.
Tags: #BusinessNews #EconomyNews #UK #Dubai #Tattu #Restaurants
