Street food operator Kerb is preparing to open two new London venues this year following a £32.2m surge in revenue.
The Compass-backed food hall and events business reported an 89% revenue increase, rising from £17m in 2022 to £23.5m in 2023.
In its financial results for the year ending 31 March 2024, Kerb Group reported a pre-tax profit of £77,897, attributing its revenue growth to high-profile events and management contracts.
Kerb’s flagship food hall in London’s Covent Garden, Seven Dials Market, attracted around 30,000 visitors per week in 2024, driving a year-on-year food revenue growth of £17.5m.
The venue also won the Best Marketing Campaign Award at the 2024 Cateys, while Kerb overall took home the Equity and Inclusion Award at the 2024 People Awards.
The Kerb Events business achieved £13.6m in sales, marking its largest year-on-year growth of 69%, while the group’s weekly pop-up lunch markets across London saw a year-on-year revenue increase of £1.1m.
Over the past 12 months, the Kerb+ programme has supported 25 aspiring entrepreneurs from disadvantaged backgrounds and raised £108,000.
Kerb currently operates two food halls – Seven Dials Market in London and Saluhall food hall in San Francisco. Next month, it is set to launch the 55,000 sq ft Corner Corner in London’s Canada Water, followed by Kerb Berlin on 9 May. The food hall operator is also planning to debut a new concept in central London this summer.
Simon Mitchell, chief executive of Kerb said: “It’s been an extraordinary year for Kerb. We are incredibly proud of the growth and success we have seen across our markets, food halls, and events. As we move into 2025, with exciting new locations in Berlin, the US, and London, we are confident that Kerb will continue to curate exceptional hospitality experiences, and more importantly, help hundreds of brilliant independent businesses accelerate their growth.”
