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Famous Brands to dish up pap and vleis

Nov 02 2011 10:24 I-Net Bridge

Company Data

FAMOUS BRANDS LIMITED [JSE:FBR]

Last traded 98.00
Change -1.18
% Change -0.01
Cumulative volume 98215
Market cap 9.77bn

Last Updated: 31/07/2014 at 04:26. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Famous Brands [JSE:FBR] on Wednesday announced that it has made its first foray into the mass-based entry-level market with pilot restaurant Blacksteer Home of Shisanyama.

The restaurant, which targets LSM 3 to 6 consumers, opened last week and is situated in Jules Street in Malvern.

Menu items include pap and vleis, boerewors, Russian sausages, stews, flame grilled and fried chicken, burgers, mash, chips, soft serve ice-cream and a range of carbonated soft drinks - with price points under R20.

"The group has never directly participated in the LSM 3 to 6 market segment in a meaningful and focused manner, but in line with our ambition to constantly innovate and broaden our portfolio offering we have identified this sector as one with vast potential," said CEO Kevin Hedderwick.

Famous Brands acquired the trademarks and franchise agreements of Blacksteer in 2010.

"The imagery of the black steer is extremely powerful and its association with flamed grilled red meat is obvious.

"We have adopted the best elements of the original branding and revitalised them for this purpose," said Hedderwick.

"Shisa nyama" is a Zulu phrase meaning to 'burn the meat', and in many South African townships the term is used to describe an informal braai where friends come together near a butchery, to grill meat on an open fire.

According to Hedderwick, the key elements of Blacksteer's business model are compelling, and include low set-up costs, low rentals and limited staffing.

"The trading format is primarily quick service take-away with limited seating, catering for customers seeking a convenient, substantial meal," he said, adding that the new venture has an important empowerment component.

"Blacksteer's offering, market niche and low start-up costs, in the order of R500 000, position the business favourably for investment by black entrepreneurs with finite capital but a keen insight into the LSM 3 to 6 market," he said.

The franchisee of the first Blacksteer Home of Shisanyama is Peaceful Ngcube, a former long-standing employee of Famous Brands.

Famous Brands' portfolio includes Steers, Wimpy, Debonairs Pizza, FishAways, Mugg & Bean and Brazilian Cafe, among others. 

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