Licious Expands Its Reach: A Strategic Acquisition in the Meat Market
October 16, 2024, 12:35 pm
In the bustling world of food startups, Licious is carving out a significant niche. The company, known for its direct-to-consumer meat and seafood offerings, has made headlines with its recent acquisition of My Chicken and More, a Bengaluru-based offline retailer. This move is not just a business transaction; it’s a strategic leap into the omnichannel retail space.
Licious, founded in 2015, has always been a player in the meat and seafood sector. With this acquisition, it’s doubling down on its commitment to accessibility and customer experience. My Chicken and More operates 22 stores across Bengaluru, and with this deal, Licious expands its retail footprint to 26 locations. This is a bold step in a market that is rapidly evolving.
The numbers tell a compelling story. My Chicken and More generates an impressive ₹110 crore in revenue and processes between 1.6 million to 1.8 million orders annually. Some of its stores attract foot traffic of 10,000 to 12,000 customers each month. This level of engagement indicates a strong brand presence and customer loyalty—qualities that Licious aims to harness.
Licious is not just about expanding its physical presence. It’s about creating a seamless shopping experience for consumers. The company has been steadily building its omnichannel strategy, which integrates online and offline shopping. This approach allows customers to choose how they want to shop, whether through the app or in-store. It’s about meeting customers where they are, and that’s a smart play in today’s retail landscape.
The acquisition aligns with Licious’s vision of scaling its operations in South India. The region is a hotbed for food startups, and competition is fierce. Licious faces rivals like FreshToHome and Capitan Fresh, as well as quick-commerce players like Zepto and Tata’s BigBasket. In this crowded market, differentiation is key. By acquiring My Chicken and More, Licious not only gains physical locations but also a loyal customer base and a proven operational model.
The founders of Licious, Vivek Gupta and Abhay Hanjura, have articulated their commitment to quality and transparency. These values resonate with today’s consumers, who are increasingly concerned about the origins of their food. The partnership with My Chicken and More enhances Licious’s ability to deliver on these promises. It’s a match made in culinary heaven.
But the acquisition is not without its challenges. Integrating two companies requires careful planning and execution. Licious must ensure that the operational efficiencies of My Chicken and More align with its own standards. This includes maintaining quality control, supply chain management, and customer service. The stakes are high, but the potential rewards are even greater.
Licious has already made significant investments in its infrastructure. With around $490 million raised from various investors, the company is well-positioned to support its growth ambitions. The funding has allowed Licious to operate five processing centers and serve 20 cities through 100 delivery centers. This robust infrastructure is crucial for scaling operations and meeting customer demand.
The loyalty program, Infiniti, has also been a game-changer for Licious. With 2 lakh weekly active subscribers, it contributes to 58% of the company’s monthly business. This level of engagement is a testament to the brand’s ability to connect with consumers. The acquisition of My Chicken and More is likely to enhance this connection further, as new customers are introduced to the Licious experience.
As Licious embarks on this new chapter, it’s clear that the company is not just focused on growth for growth’s sake. It’s about building a brand that stands for quality, accessibility, and customer satisfaction. The founders have a clear vision: to open 500 offline stores in key markets over the next few years. This ambitious goal reflects their confidence in the brand and the market.
In conclusion, Licious’s acquisition of My Chicken and More is a strategic move that positions the company for future success. It’s a calculated step into the omnichannel retail space, enhancing customer accessibility and brand loyalty. As the meat and seafood market continues to evolve, Licious is poised to lead the charge. The road ahead may be challenging, but with a strong foundation and a clear vision, Licious is ready to seize the opportunities that lie ahead. The meat market is changing, and Licious is at the forefront of this transformation.
Licious, founded in 2015, has always been a player in the meat and seafood sector. With this acquisition, it’s doubling down on its commitment to accessibility and customer experience. My Chicken and More operates 22 stores across Bengaluru, and with this deal, Licious expands its retail footprint to 26 locations. This is a bold step in a market that is rapidly evolving.
The numbers tell a compelling story. My Chicken and More generates an impressive ₹110 crore in revenue and processes between 1.6 million to 1.8 million orders annually. Some of its stores attract foot traffic of 10,000 to 12,000 customers each month. This level of engagement indicates a strong brand presence and customer loyalty—qualities that Licious aims to harness.
Licious is not just about expanding its physical presence. It’s about creating a seamless shopping experience for consumers. The company has been steadily building its omnichannel strategy, which integrates online and offline shopping. This approach allows customers to choose how they want to shop, whether through the app or in-store. It’s about meeting customers where they are, and that’s a smart play in today’s retail landscape.
The acquisition aligns with Licious’s vision of scaling its operations in South India. The region is a hotbed for food startups, and competition is fierce. Licious faces rivals like FreshToHome and Capitan Fresh, as well as quick-commerce players like Zepto and Tata’s BigBasket. In this crowded market, differentiation is key. By acquiring My Chicken and More, Licious not only gains physical locations but also a loyal customer base and a proven operational model.
The founders of Licious, Vivek Gupta and Abhay Hanjura, have articulated their commitment to quality and transparency. These values resonate with today’s consumers, who are increasingly concerned about the origins of their food. The partnership with My Chicken and More enhances Licious’s ability to deliver on these promises. It’s a match made in culinary heaven.
But the acquisition is not without its challenges. Integrating two companies requires careful planning and execution. Licious must ensure that the operational efficiencies of My Chicken and More align with its own standards. This includes maintaining quality control, supply chain management, and customer service. The stakes are high, but the potential rewards are even greater.
Licious has already made significant investments in its infrastructure. With around $490 million raised from various investors, the company is well-positioned to support its growth ambitions. The funding has allowed Licious to operate five processing centers and serve 20 cities through 100 delivery centers. This robust infrastructure is crucial for scaling operations and meeting customer demand.
The loyalty program, Infiniti, has also been a game-changer for Licious. With 2 lakh weekly active subscribers, it contributes to 58% of the company’s monthly business. This level of engagement is a testament to the brand’s ability to connect with consumers. The acquisition of My Chicken and More is likely to enhance this connection further, as new customers are introduced to the Licious experience.
As Licious embarks on this new chapter, it’s clear that the company is not just focused on growth for growth’s sake. It’s about building a brand that stands for quality, accessibility, and customer satisfaction. The founders have a clear vision: to open 500 offline stores in key markets over the next few years. This ambitious goal reflects their confidence in the brand and the market.
In conclusion, Licious’s acquisition of My Chicken and More is a strategic move that positions the company for future success. It’s a calculated step into the omnichannel retail space, enhancing customer accessibility and brand loyalty. As the meat and seafood market continues to evolve, Licious is poised to lead the charge. The road ahead may be challenging, but with a strong foundation and a clear vision, Licious is ready to seize the opportunities that lie ahead. The meat market is changing, and Licious is at the forefront of this transformation.