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K Hospitality Corp's restaurant platform, Charcoal Concepts, and UK-based The Restaurant Group have formalised a joint venture to expand the pan-Asian dining chain Wagamama across India. The partnership targets at least 100 outlets over the next ten years and was announced alongside the opening of Wagamama's fourth Indian restaurant in Mumbai. One report places the investment at INR 550 crore. The move builds on the brand's debut Indian outlet in Churchgate, Mumbai, which opened roughly a year earlier and outperformed initial expectations, prompting the scaled-up partnership.
The Restaurant Group (TRG), the UK owner of the pan-Asian casual dining chain Wagamama, has entered into a multi-million-pound joint venture with Charcoal Concepts, the multi-brand restaurant platform owned by K Hospitality Corp, to accelerate the brand's expansion across India. The announcement, made earlier this month, coincided with the opening of Wagamama's fourth restaurant in the country, located in Mumbai. Under the partnership, the two companies intend to open at least 100 Wagamama outlets across India over the next decade.
One industry report placed the scale of K Hospitality's investment at INR 550 crore, though this figure was not independently corroborated across other trade publications covering the announcement, which described the deal broadly as a "multi-million-pound" commitment without disclosing an exact rupee value.
The joint venture builds on the performance of Wagamama's first Indian restaurant, which opened at the Cambata Building in Churchgate, Mumbai, roughly a year ago. According to the companies, the site surpassed initial business expectations, providing the basis for the expanded partnership now being rolled out.
Andy Hornby, TRG's Chief Executive, said the joint venture followed months of collaboration between the two companies and described India as an important target market for Wagamama's international growth strategy. Rohan Sable, Chief Executive of Charcoal Concepts, said the partnership was intended to combine Wagamama's global brand strength with local market knowledge to build one of India's most recognised casual dining brands. Karan Kapur, Executive Director at K Hospitality, said the response to Wagamama since its India debut had exceeded expectations, pointing to growing demand for international dining concepts with local relevance.
Charcoal Concepts, K Hospitality Corp's restaurant platform, also holds brands including Copper Chimney, Bombay Brasserie and The Irish House. K Hospitality Corp operates more than 700 locations across eight countries and employs over 12,000 people. Its portfolio additionally includes the listed subsidiary Travel Food Services, Nando's and Kliff Ventures, the group's investment arm. Wagamama's airport outlets in India will continue to operate under a separate franchise arrangement with Travel Food Services, rather than through the new joint venture.
Wagamama's UK filings offer some corroborating detail on the structure of the India entry. According to Wagamama (Holdings) Ltd's Annual Report for the financial year ended 28 December 2025, the business expanded into three new international markets during the year, including India through K-Hospitality, alongside Saudi Arabia and Azerbaijan, representing a combined development potential of more than 100 restaurants across all three markets over the next decade. The filings also confirm that, after the year end, in January 2026, Wagamama International (Franchising) Ltd acquired a 49 percent stake in the ordinary share capital of Firecracker Restaurants India Private Ltd, the entity incorporated to manage Wagamama's Indian operations, with the remaining 51 percent and majority voting rights held by the Indian partner.
The company plans to expand next into Delhi NCR, having stated intentions to widen its footprint further across the country. Wagamama, founded in Bloomsbury, London, in 1992, operates 165 restaurants in the UK and 62 across 18 other countries, including seven in the United States, according to its FY2025 accounts.
Sources: Wagamama (Holdings) Ltd Annual Report and Accounts 2025.
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