Davy's London wine bar operator eyes growth
The company opened Lazy Bones — a diner specialising in burgers, pulled pork and chicken wings plus craft beer and cocktails — in March at a former Davy’s in Farringdon. Davy said it was as good as other similar concepts in the market currently.
In September the company opened Factory House, a bar/restaurant at Leadenhall, and in 2010 opened a steak concept called Steak Exchange in Exchange Square, both in the City.
Chairman James Davy told M&C Report that those brands have “much more opportunity to travel”.
He added: “These other brands should provide us with flexibility and Davy’s Wine Bars will always be our London flagship.”
Davy singled out Lazy Bones as a concept that could work in transport hubs, describing it as an “essentially a smart fast food concept”. “It’s a quick, quality, fun experience.”
Regarding expansion targets, Davy said: "Ten years ago we had 45 businesses in our bars and restaurants portfolio. Now we have about 30. Certainly in five years we should have 40 — no great shakes for the big rollout boys, but for us it fits our model perfectly."
Meanwhile, Davy said 4,000 people have signed up to the company’s Premier Cru rewards card scheme since its launch in March. It offers customers a percentage of their spend back, a minimum of 3%, in the form of wines delivered to their home from the company’s wine merchant business.
