14th Lane, the largest food hall in Bucharest, anticipates a 30% increase in turnover in 2022

Deniza Cristian 23/11/2022 | 09:56

14th Lane, the largest food hall in Bucharest, ended 2021 with a turnover of 6.8 million lei and anticipates for the current year an increase of approx. 30%, up to 8.9 million lei. Moreover, with the returning of live events and of employees to office buildings, the founders of 14th Lane estimate for 2023 a significant increase in traffic in the location and a 25% evolution of the business.   

 

With an area of ​​1000 sqm and 50 employees, 14th Lane was inaugurated in 2018 by serial entrepreneurs Radu Stoica and Olivier Gustave J. Lecompte, after an investment of 2.5 million euros. With experience in the local HoReCa market, Radu Stoica has been involved in the development of numerous representative establishments for the past 20 years, from the Cuando group of clubs, The Rooms, Zebra Cafe, Edgar Pub, to Boutique du Pain. The latest concepts brought to Bucharest are Boutique du Pain Junior and 14th Lane.

Designed as a food hall, 14th Lane offers five different kitchens, a specialty coffee shop and can accommodate more than 400 seats simultaneously, as well as a flow of more than 2,500 people at lunchtime.

According to the founders, over the last 3 years, the investments have been constant, directed especially towards technological changes in the kitchen area. 14th Lane offers five different kitchens with constantly reinvented dishes prepared to a high standard using the highest quality ingredients sourced from leading producers and distributors. The food is mainly cooked in front of the customers, by renowned chefs, being divided into international cuisine, Asian cuisine, pizzeria, salad area and an American Grill.

Our start was a very good one from a business point of view, but with the pandemic and related restrictions, we had to adapt and pivot from the initial food hall concept to an area with a focus on catering and delivery. We’ve made it through this period well, although it hasn’t been easy, and we’re currently happy to see that traffic has increased as employees return to their offices and the event market decompresses”, said Radu Stoica, co-founder of 14th Lane.

According to his statements, this year the value of the average voucher coincided with the value of meal vouchers, respectively approx. 30 lei, the most appreciated cuisine being the international one, which represents about 50% of the volume during lunch.

Development plans for 2023 – 25% increase in turnover and development of new related locations 

We want to further optimize operational processes, up to operational excellence, with a direct impact on the quality of the products and services we offer. In the future, we also plan to open several locations for the preparation of the bakery products we use, as well as a new confectionery laboratory, thus we are constantly adapting and investing in the kitchen area, for an exceptional culinary experience”, added Radu Stoica.

Also, another targeted development segment is the organization of corporate and private events, estimated to reach a 50% share of the business in the near future. With a generous space, an exclusive design, an impressive height of 6.9 m, along with a platinum green certified building, which benefits from the best fire protection system, 14th Lane offers customers everything that entails organizing a successful event, from catering and serving services, to concerts and unforgettable artistic moments.

According to the company, the Real Estate, Banking and IT industries make up the largest demand for events in the corporate area, but private events such as anniversaries, weddings and baptisms are also in great demand.

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Deniza Cristian | 29/11/2022 | 10:17

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