Refreshingly effective
Please click below to discover the stories behind some of our recent work
Pure (Health and Wellness)
Our passion and knowledge of the Indian market sets us apart
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PizzaExpress
- White Rivers has a deep knowledge of the UK restaurant market as a result of Mark's active involvement with a number of well-known casual dining brands and fine dining restaurants. Significant time was invested during 2009 & 2010 in researching the Indian market, with a specific focus on casual dining and fast food operators. Over 100 restaurants were visited and discussions held with many key players in the sector.
- This generated crucial insights and White Rivers now has a wealth of knowledge in this sector. Today, White Rivers has an extensive network of operators, suppliers, landlords, fit out specialists and investors, and is uniquely placed to assess the opportunities and challenges that the market offers both international brands and local concepts.
- In late 2010, White Rivers made the case for India to Harvey Smyth (CEO of the Gondola Group, owners of PizzaExpress). This culminated in White Rivers taking members of the Board on a familarisation tour of India. Over the course of an intensive week, White Rivers showed PizzaExpress the extent of the Indian opportunity and convinced the Board that India had to be a strategic focus for the PizzaExpress business.
- White Rivers joined the 'India Launch Team' providing high level strategic advice and detailed input to the development of the PizzaExpress business plan for India. White Rivers also helped PizzaExpress find a development partner in India and their first site is likely to open in 2012.
Pure
- White Rivers has a strong understanding of the health and fitness market as a result of David's significant exposure to the sector in multiple territories.
- India remains a nascent market with few operators, despite significant consumer demand. During 2009 & 2010 White Rivers carried out extensive research of the Indian health and fitness sector, meeting with senior management of all the major operators. Despite many discussions with existing players, it was decided that none provided an appropriate platform to exploit the rapidly developing consumer demand for a heath and fitness offering at the value end of the market.
- Mike Balfour (founder of Fitness First) started Pure in 2008 with the aim of building the leading health and fitness operator in the world's emerging markets. Like David, Mike believed the opportunity lay at the value end of the market.
- Pure achieved immediate success with its initial sites and in early 2011 Mike sought new equity to fund an accelerated development of the business. Pure's initial success, combined with Mike's track record at Fitness First, resulted in a very competitive fund raising process.
- Our passion for the Indian market, together with our deep knowledge of the sector, convinced Mike that he should partner with White Rivers. We subsequently invested over €8m in Pure, taking a significant minority stake. David joined the main Board as a Non-Executive Director in April 2011. Pure will have almost 70 sites open by the end of 2012 and is currently the fastest growing health and fitness business in the world - with an aim to have around 200 clubs by 2015.
Urban Shore
- Urban Shore is a beauty and wellness retailer/wholesaler seeking to exploit the Indian consumer’s appetite for international beauty care products. The business is exclusively focused on niche international (mainly UK) brands. The founders had done an excellent job securing the India rights for over 30 brands and had created a platform to build India's answer to Space NK.
- White Rivers met the team and convinced them that our experience of business building, together with our knowledge of western operating practices, would be highly complementary to the existing team. In early 2011, White Rivers invested growth capital taking a significant minority stake and David was appointed to the main Board.
- Since our investment, White Rivers has been actively involved in developing the business in a number of areas: including operational systems, financial controls and site selection. There is also a huge opportunity for Urban Shore to develop a significant online presence and we are leading this project via our UK network and knowledge in this area.
- Sales have more than doubled in the six months following the White Rivers investment. The business has retail stores in both Delhi and Mumbai and its wholesale customers include Grand Hyatt, Four Seasons and Claridges.