Mercato Metropolitano: 10 more openings by 2025
£ 35 million expansion in London, Europe and US
The £35m expansion will focus on major cities around the world and is expected to create around 2,000 jobs. Mercato Metropolitano was founded by Andrea Rasca, a former vice-president of Italian food hall brand Eataly, in Milan in 2015. It has opened two food halls in London, in Elephant & Castle in 2016 and in a former Mayfair church in 2019. Sites in London's Canary Wharf and Elephant Park are due to open this summer, followed by a location in Ilford in autumn. The news was relaunched by the English site thecaterer.com.
Global locations are set to launch in Atlanta, Boston, Miami and New York in the US, and Berlin, Lisbon and Milan in Europe over the next four years. There are long-term plans to open further markets in smaller cities in the UK and worldwide. Mercato Metropolitano reported sales of almost £10m last year despite being closed for four months with limited trading during the pandemic.
Managing director Amedeo Claris cites the group's focus on sustainability as the key to its success. Rather than charging traders rent, Mercato Metropolitano takes a share in top-line sales and provides trading stands with utilities and extraction in place. Operators pay a small entry fee as well as ingredient, staff and business overheads while the markets bear the cost of cleaning, securing and managing common areas.
All dishes are served in recyclable and compostable materials, while traders are unable to serve heavily processed food and drinks. Claris said: "Ultimately, we are developing a sustainable business model that aims to shorten the food supply chain, make quality food more affordable, and promote the importance of communal eating as a catalyst for social cohesion". Mercato Metropolitano claims it served four million people at its two London markets in 2019 and has incubated over 100 food and drink start-ups to date.
EFA News - European Food Agency