Time Out Market, a globally recognized food hall concept, is set to open its 13th location at Oakridge Park in Vancouver on Thursday. The market will feature 18 food kiosks operated by some of the city's most celebrated chefs, along with a dessert bar, coffee shop, and three bars. With seating for approximately 1,000 guests, the venue promises a curated selection of vendors, avoiding chain outlets, mediocrity, and overlapping cuisines.
Chef Vikram Vij, a longtime fixture in Vancouver's culinary scene, expressed his excitement about joining the market. "I've visited the original one in Lisbon and loved it," he said. "It's not filled with big companies with deep pockets. They choose you to be part of it, and it's an amazing feeling." Vij's kiosk, named Peacock, will serve Indian cuisine.
Time Out Market typically covers the build-out costs, including kiosks, equipment, rent, and point-of-sale operations. In return, vendors share a percentage of revenue with Time Out, under strict non-disclosure agreements. This arrangement allows chefs to focus on their food without the financial burden of opening a traditional restaurant.
Michael Marlay, CEO of Time Out Markets, praised Vancouver's culinary talent. "In the last two years of memorable dining experiences, two of the most memorable meals have been here in Vancouver," he said. "I was spoiled by the hospitality and sold on the quality and freshness. It's one of the most delightful markets I've been involved in creating."
The selection process took a year, with Marlay and his team approaching numerous chefs. While most were eager, some declined due to existing commitments. "If chefs are focused, have their hands full, and have dreams and commitment, they'll say now's not the right time," Marlay explained. "Half a dozen said no, hoping in the next two or three years they might have an opportunity to be part of it."
Vendors like Vij appreciate the low-risk model. "They take all the risks on equipment and upfront costs, which are very steep. Most independent restaurants after COVID wouldn't be able to afford it," he said. "They take a percentage of sales, but there's no rent, and it's sales-based. For me, it's a turnkey operation. I take my staff, spices, and food, and start serving from day one."
Time Out, a British media and hospitality company, started in London in 1968 as a small free publication named after jazz artist Dave Brubeck's album. It has since grown into a global cultural phenomenon. The Time Out Market concept launched in Lisbon in 2014 and has expanded to cities including Miami, New York, Boston, Montreal, Barcelona, Dubai, and now Vancouver.
