Vapiano

Vapiano is a German restaurant brand built around a fast-casual interpretation of Italian dining. Mark Korzilius opened the first Vapiano restaurant in Hamburg in 2002, combining pasta, pizza, a lounge-like atmosphere and self-service ordering. The concept was designed to offer freshly prepared food in a relatively informal and efficient setting while avoiding the conventional fast-food label. The name refers to the Italian expression “chi va piano, va sano e va lontano,” commonly understood as suggesting that a relaxed and measured approach leads to a healthier and longer life. The brand’s restaurants typically prepare pasta, sauces and pizza components on site. Customers receive a chip card when entering, use it to record food and beverage purchases, and settle the bill when leaving. Open preparation counters, visible cooking, communal wooden tables, exposed concrete, Italian-style tile, plants, olive trees and herb gardens form part of the standardized visual identity. Locations are generally placed in central urban districts, shopping centers and office-heavy areas. Restaurants can be large, with some occupying up to approximately 1,000 square meters; the Vienna location at Wien Mitte was described as the chain’s largest, at about 1,500 square meters. The original company was registered as Mark’s AG shortly after the first restaurant opened and was renamed Vapiano AG in 2003. The founder left the management board that year, while the company continued to replicate the Hamburg format in German cities including Düsseldorf, Frankfurt, Nuremberg and Munich. Headquarters moved from Hamburg to Bonn in 2005. International expansion accelerated from 2006, with restaurants and franchise relationships established in countries including Belgium, Austria, Turkey, the United States and the United Arab Emirates. The chain passed 30 restaurants in 2008, reached roughly 60 by the end of 2009 and opened its 100th restaurant in Vienna in 2011. Vapiano became Vapiano SE in 2008. Mayfair Vermögensverwaltung became its largest shareholder from 2011, acquiring a substantial stake from investor Gregor Gerlach. The ownership change coincided with a change in supervisory leadership and renewed emphasis on international growth. By the early 2010s, Vapiano had become a sizeable European restaurant network, using a mix of company-operated restaurants, franchise businesses and joint ventures. In 2014, however, the company shifted toward more corporate-operated locations in smaller cities, a move associated with slower growth and later criticism of the expansion model. Vapiano entered the stock market in 2017. The public-company phase was marked by rapid expansion, missed sales expectations, falling share performance and large losses. In response, management announced a slower expansion pace, greater reliance on franchisees, changes intended to reduce customer waiting times and the closure of unprofitable restaurants. The company reported a loss of approximately EUR 101 million for 2018. On 20 March 2020, after the COVID-19 pandemic forced the closure of most restaurants and sharply reduced sales, Vapiano announced cash-flow insolvency. Insolvency proceedings formally began in Cologne on 2 April 2020. In June 2020, the brand and parts of the business were acquired out of insolvency by a hospitality-investor group led by former Vapiano board member Mario C. Bauer. The investor group also included hospitality figures such as Henry McGovern, Sinclair Beecham, the van der Valk family and Gregor Gerlach. The available reference material does not establish the complete current ownership structure, restaurant count or operating status, so the present corporate position should be treated as requiring verification.

Vapiano began in 2002 when Mark Korzilius opened the first restaurant in Hamburg’s Neustadt district. The format combined Italian food, self-service and a casual lounge environment. The company was initially registered as Mark’s AG and became Vapiano AG in 2003. Italian architect and designer Matteo Thun contributed to the restaurant’s interior concept, helping establish the brand’s recognizable use of exposed materials, communal furniture and plant-filled spaces. Korzilius left the management board at the end of 2003, while the company continued expanding the concept in Germany. New restaurants opened in Düsseldorf in 2004 and in Frankfurt, Nuremberg and Munich in 2005. That year the headquarters moved from Hamburg to Bonn, and reported revenue exceeded EUR 10 million. From 2006 onward, Vapiano expanded beyond Germany into markets such as Belgium, Austria and Turkey, and later developed operations or partnerships in the United States, the United Arab Emirates and other countries. Franchising became an important part of the growth model. The restaurant count passed 30 in 2008 and reached approximately 60 by the end of 2009. Vapiano opened its 100th restaurant in Vienna in 2011. The company adopted the legal form Vapiano SE in September 2008. In 2011, Mayfair Vermögensverwaltung acquired a 40 percent stake from Gregor Gerlach and became the company’s largest shareholder. Gerlach had invested during the start-up period and remained influential as a shareholder and supervisory figure. The ownership change was intended to support international growth, while the long-serving supervisory chairman Marko Silz stepped down amid differing views about future strategy. Gerlach subsequently promoted continued expansion. After roughly ten years, the business reported 118 restaurants and approximately 7,200 employees worldwide, including 50 German restaurants and about 3,100 employees in Germany. By 2014, the group reported 152 restaurants across a broad international network. That year it began building more company-owned restaurants, including in smaller cities, rather than relying exclusively on franchise operations. The change contributed to slower growth and intensified criticism of the company’s expansion strategy. In 2015, Gerlach moved from the chairmanship to the supervisory board, and the management and supervisory structures were reorganized. Vapiano went public in 2017. The listed-company period exposed the risks of rapid international expansion and a complex mix of company-operated, franchised and joint-venture restaurants. By early 2019, the company had missed sales targets, its share price had fallen substantially from the IPO period, and losses had accumulated. Management responded by slowing expansion, transferring more locations to franchisees, redesigning processes to reduce waiting times and closing unprofitable restaurants. The company reported a loss of about EUR 101 million for 2018. The COVID-19 pandemic created the decisive liquidity crisis. With most restaurants forced to close temporarily, Vapiano announced cash-flow insolvency on 20 March 2020 and formally entered insolvency proceedings in Cologne on 2 April. In June 2020, a hospitality-investor group led by Mario C. Bauer acquired Vapiano out of insolvency. The available material identifies Henry McGovern, Sinclair Beecham, the van der Valk family and Gregor Gerlach among the investors. Later operating performance, ownership and the complete current restaurant network are not established by the supplied references.

• 2020

  Insolvency and post-insolvency acquisition

  [1]Vapianoen.wikipedia.org

  The company announced cash-flow insolvency in March, entered formal proceedings in April and was acquired out of insolvency by a hospitality-investor group in June.

• 2017

  Vapiano goes public

  [1]Vapianoen.wikipedia.org

  Vapiano SE completed a stock-market listing during its international expansion phase.

• 2011

  100th restaurant opens and Mayfair becomes largest shareholder

  [1]Vapianoen.wikipedia.org

  Vapiano opened its 100th restaurant in Vienna, while Mayfair Vermögensverwaltung acquired a substantial stake and became the largest shareholder.

• 2008

  Adopts the Vapiano SE structure

  [1]Vapianoen.wikipedia.org

  The company began operating as Vapiano SE in September.

• 2005

  Headquarters move to Bonn

  [1]Vapianoen.wikipedia.org

  Vapiano moved its headquarters from Hamburg to Bonn and exceeded EUR 10 million in reported revenue.

• 2003

  Company renamed Vapiano AG

  [1]Vapianoen.wikipedia.org

  The company originally registered as Mark’s AG changed its name to Vapiano AG.

• 2002

  First Vapiano restaurant opens in Hamburg

  [1]Vapianoen.wikipedia.org

  Mark Korzilius opened the first Vapiano restaurant in Hamburg’s Neustadt district.

An urban, design-led fast-casual Italian restaurant concept combining made-to-order food, visible preparation, self-service technology and a relaxed communal atmosphere.

• Italian main dishes · 2002

  Fresh pasta

  Fresh pasta is a central Vapiano offering. Restaurants prepare pasta and sauces on site and cook dishes to order at visible service counters. The format emphasizes customization, quick preparation and the perception of restaurant-made food rather than preassembled fast food.

• Italian main dishes · 2002

  Pizza

  Pizza is one of the brand’s principal Italian food categories. It is prepared in the restaurant as part of the made-to-order counter-service model and is offered alongside pasta, allowing customers to choose between familiar Italian staples within the same fast-casual format.

• Starters and lighter meals · 2002

  Salads and antipasti

  Salads and antipasti broaden the menu beyond pasta and pizza. They support lighter meals, sharing occasions and combination orders, while fitting the brand’s Italian casual-dining positioning.

• Desserts and drinks · 2002

  Desserts and beverages

  Desserts, coffee and other beverages complete the restaurant offer. These items help extend the visit beyond the main meal and reinforce Vapiano’s positioning as a casual restaurant and social venue rather than a narrowly transactional takeaway business.

• 2015

  Allegations concerning employee time records

  Former restaurant managers alleged that working-time records had been retrospectively altered to reduce recorded labor costs. Vapiano said it was shocked by the claims, commissioned PricewaterhouseCoopers to investigate and announced a new time-accounting system.

  Source

• 2015

  Allegations concerning food dating and quality controls

  Former employees alleged that best-before dates had been manipulated and that some deteriorated food had been served. Vapiano apologized for possible errors, attributed any proven misconduct to individuals and said it would investigate while pointing to external quality inspections.

  Source

• 2013

  Allegations of obstructing works-council formation

  The Food, Beverages and Catering Union filed criminal charges alleging that Vapiano had obstructed the election of a works council at a Bochum restaurant. Allegations included reduced working hours, exclusion from training and dismissals of works-council representatives. Vapiano denied opposition to works councils, and subsequent reporting said the parties resumed discussions.

  Source

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• 2020

  File for insolvencyOther

  Background

  Most restaurants had to close during the COVID-19 pandemic, causing a sharp fall in sales and a cash-flow crisis.

  Action taken

  Vapiano announced cash-flow insolvency on 20 March and entered formal insolvency proceedings in Cologne on 2 April.

  Aftermath

  The brand and parts of the business were acquired out of insolvency by a hospitality-investor group in June 2020.

  Source

• 2019

  Slow expansion and restructure the restaurant modelStrategy

  Background

  The company faced missed sales targets, accumulated losses and a major decline in market value after expanding too quickly.

  Action taken

  Vapiano decided to reduce the pace of expansion, place more locations under franchise operation, shorten customer waiting times and close unprofitable restaurants.

  Aftermath

  The measures did not prevent the liquidity crisis that followed the COVID-19 restaurant closures.

  Reported annual loss. EUR 101 million loss (2018 financial year)

  Source

• 2014

  Increase company-operated restaurantsStrategy

  Background

  Vapiano sought to continue expanding and began developing more corporate-owned restaurants, including in smaller cities, rather than relying primarily on franchise operations.

  Action taken

  The company opened additional company-operated locations and adjusted its ownership and operating mix.

  Aftermath

  Growth slowed and the expansion strategy later attracted criticism, contributing to subsequent efforts to rely more heavily on franchisees.

  Source

• Unconfirmed

  Reported2020.07.16

  Savour Group and partners acquire three Vapiano restaurants[2]Savour Group及合作方收购三家Vapiano餐厅restaurantonline.co.uk

  A joint venture involving the Vapiano investors and Savour Group acquired Vapiano restaurants on Great Portland Street, Bankside and Tower Bridge. Savour Group also entered a franchise agreement to operate Vapiano restaurants in Manchester and Edinburgh.

Read more

1. 1Vapianoen.wikipedia.org
2. 2Savour Group及合作方收购三家Vapiano餐厅restaurantonline.co.uk