Big Mamma Group has reported that all of its London restaurants were “fully booked a month in advance” for the whole of 2023, according to its latest earnings results.
In its 2023 application, the French Big Mamma Group, founded by Victor Lugger and Tigrane Seydoux, attributed its success to “a strong brand presence on social media”, which played a key role in fueling the constant backlog of bookings.
The group said: “Gloria, Circolo Popolare, Ave Mario, Jacuzzi and Carlotta all performed strongly above expectations.”
This success was further reflected in Big Mamma Group’s financial performance. Turnover exceeded 40 million pounds, which is a significant increase from just under 26 million pounds the previous year.
Big Mamma Group’s pre-tax profit rose tenfold to nearly £3.7m, up from £359,085 in 2022. The group’s gross margin also increased considerably, rising to 72 percent in 2023 from 67.3 percent the previous year.
Big Mamma significantly expanded its personnel in 2023 and increased the number of personnel from 355 to 536 in 2022.
It added: “The UK’s decision to leave Europe has affected the group’s ability to source staff, food and beverage from Europe.”
In September 2023, private equity firm McWin acquired a majority stake in Big Mamma Group in a deal that valued the restaurant company at €270m (£233m).
Big Mamma Group is opening its first local restaurant, La Bellezza, in Birmingham next month.
