The Covent Garden-based restaurant is due to open a second venue in Canary Wharf’s Cabot Square next month - on the site of a former Paul bakery - followed by a third, in Waterloo, in April.
The new openings will bring Farmstand up to three flagship restaurant sites, while it continues to grow its corporate partnership business, which currently stands at 24.
Founder Steven Novick says there are a further 10 corporate café sites in the pipeline in London, with an overall target of 100. He says the new restaurants will follow a similar model to the original Covent Garde restaurant, with some possible new elements.
“It will be a surprise – our model has always been made to order and ready to go. So it will be the same concept as Covent Garden, but we may have a new take on a new approach - partly because we will be managing a higher volume.”
The restaurant will also reveal a new a interior design and brand identity this year to coincide with its third anniversary and growth of the company. “We’ve been a caterpillar inside a cocoon for the last three years, and we’ll be turning into a butterfly,” says Novick. “It will tell more of our story and what we stand for.
“The branding will be more dynamic. Everyone has copied everyone’s logo, so we want to be a bit more nuanced, with a bit more warmth and approachability.”
In August last year Farmstand secured $3m (£2.3m) in funding from seed and early stage venture capital investor Kindred Capital and is set to make £5m annual revenues at its current run rate, according to Novick.
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