Firing Up Appetites
Brian Stampe, chief operating officer of homegrown food conglomerate Commonwealth Concepts on why business agility and delivering good value are the key ingredients to growing a restaurant group.
Okonomi-rosti, a sizzling tapestry of cabbage, bacon, Hokkaido scallops, and bonito flakes on a bed of shredded potatoes, is a natural attention grabber on the dining table. A moreish marriage of okonomiyaki and rosti, the Japanese-Swiss dish, alongside others such as kimchi onigiri arancini and swordfish ceviche, are some of the menu highlights at Ginkyo By Kinki, a modern Japanese bistro at One Holland Village mall.
Opened in December 2023, the restaurant is one of the latest concepts by homegrown F&B group Commonwealth Concepts, which runs more than 15 brands, including PastaMania, The Marmalade Pantry, Bedrock, and Kinki. The lattermost is a 12-year-old contemporary Japanese restaurant-bar.
Brian Stampe, the group’s chief operating officer, says: “Ginkyo is a brand extension of Kinki, but stretched to include more global influences. Kinki has been more CBD-focused with a male-heavy clientele, whereas Ginkyo has more feminine touches in an aesthetically focused place for ladies who lunch in the area.”
Launched in tandem with Ginkyo is Fireplace By Bedrock, an open wood-fired grill concept and a spin-off restaurant from Bedrock steakhouse. Stampe shares that Fireplace addresses a market gap by having such concepts at a more accessible price point.
The 52-year-old believes that spin-off concepts are a sure-fire way of swiftly establishing a presence in a competitive dining landscape. He says: “There is quicker brand recall as diners have formed an association with these long-time brands and will more likely try these new concepts.”
The F&B and hospitality industry veteran, who has 19 years of experience under his belt, has observed a 10 to 25 per cent drop in business across the experiential and upscale dining concepts across the industry, mirroring sluggish business in the fine-dining sector over the past nine months. With inflation, rising living costs and attention diverted to travel, diners are tightening their dining budgets.
Despite the economic headwinds,
Stampe observes that demand for casual dining continues to be resilient and strong enough for Commonwealth Concepts to roll out a major revamp for PastaMania, a 25-year-old Italian dining chain, which is the oldest dining brand in the group’s portfolio. Stampe is overseeing a refurbishment of all 18 outlets to give them a “younger and fresher look” over the next two years.
On what customers look for when dining out, Stampe offers: “A good value proposition (where we deliver) on the quality of food and experience. They also seek a comfortable vibe, so many brands, even casual ones, are spending more on providing a better ambience.”
Over the past year, Commonwealth Concepts started three lifestyle dining concepts including Japanese restaurant Miyoshi By Fat Cow. Restaurant expansion offers more career progression opportunities within the company, allowing employees to take up new challenges, says Stampe, who oversees a team of 500. “Companies that are growing retain staff better, he notes. “Every new place that we open means an opportunity for somebody to step up to a bigger position.”
PAYING IT FORWARD
Having spent over 13 years heading operations at hotels and serviced residences in Far East Hospitality, Stampe was given an opportunity to step up as COO at Refinery Concepts, the lifestyle and dining arm of Far East Organisation, in 2017. Under his stewardship, the group picked up customer service and employee engagement accolades. In 2021, Commonwealth Concepts was formed as a joint venture between Refinery Concepts and Singapore-based investment company Commonwealth Capital, which also runs logistics, food manufacturing, and retail businesses.
Making the switch from hospitality to F&B wasn’t a stretch, as “both are people-first businesses”, he says with a smile. “If you can create the infrastructure to attract good people with good intentions and align them with the company’s values, you can reach the goal of serving your customers. In a sense, F&B is the closest sector to running a typical hospitality business.”
On his most challenging episode (yet) during his tenure, he brings up weathering the COVID-19 pandemic in a heartbeat. He lets in that the group “did not retrench a single employee” during the gloomy period of lockdowns and dining restrictions. While the company took a financial hit, it arranged for its staff to take up temporary stints at supermarkets, which saw booming business.
Like many restaurants, the group’s outlets also pivoted to doing takeaways, launching a bounty of creative ideas to shore up sales. “Fat Cow was one of the first restaurants to offer dryaged wagyu beef in Singapore and its takeaway donburi that went bananas,” he recalls excitedly. “The restaurant was profitable during that lean period.”
Having gone through thick and thin with his staff, he muses that working with the executive team, who shares the same dedication to problem-solving and strong work ethic, has kept him going over the years. Rattling off a list of staff who have climbed up the career ladder in the various restaurants, he affirms: “Seeing people grow and helping them achieve their career aspirations in one of the toughest industries continues to inspire me.”
“Diners are loking for a good value proposition, where restaurants deliver on the quality of food and experience, and a comfortable vibe.”