March 18, 2011

Pragma aiming for Turkish delight

Trendy diners in Istanbul may soon be able to lounge in zebra-striped chairs and gaze at Swarovski crystal curtains in a new Roberto Cavalli-branded club. The Pragma Group is planning to spend up to US$40 million (Dh146.9m) to roll out its concepts across Turkey.

Pragma opened an office in Istanbul last week and plans to open outlets under the Cavalli Cafe, the restaurant and nightclub concept Cavalli Club, and BoHouse restaurant brands, as well as its technology ventures, he said.

"Turkey is really booming," Mr Tabet said. "It reminds me of Dubai seven or eight years ago."

Turkey has been identified as one of the world's next big emerging market economies, according to Euromonitor International, which said it would rank among the world's top 20 largest economies by 2020.

"In Istanbul you have 20 million residents, and the average income is on the high side," said Mr Tabet. "And people are hungry for those kind of concepts."

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