.Representative imageMeat and fish and shellfish home-delivery solution Licious' parent company, Delightful Exquisite, on Monday pointed out that it has acquired Bengaluru-based offline retail store My Hen and also More.It was a cash-and-equity deal, the firm pointed out, without disclosing the financial details.The acquisition will definitely strengthen its own omnichannel presence and also tap into brand-new customers, increasing Licious' on the internet service. With My Chicken and Even more's 23 retail stores, Licious will definitely also raise its physical retail footprint to 26 locations.In May ET had actually reported regarding Licious' plannings to open five bodily outlets in Bengaluru through June as well as enhance the store count to 35-40 throughout two-three areas due to the end of FY25. It presently serves 4 million households." The achievement will enable us to quickly size our offline presence in South India, while remaining to provide the quality and also openness that determine the Licious knowledge," said the cofounders Vivek Gupta as well as Abhay Hanjura in a statement.This accompanies lots of new-age online-first companies extending offline to obtain brand-new consumers as project funds are actually likewise supporting consumer brand names along with retail visibility around the meals and also refreshment sector.Temasek-backed Licious is actually right now increasing down on constructing an omnichannel network as well as considers to open 500 offline stores in key markets over the following few years.Earlier ET had reported that the pork brand is likewise piloting 15-minute deliveries of ready-to-eat meals items in particular sites in Gurgaon, though its typical delivery opportunity remains 30 minutes. Around 85% of the company's purchases are by means of its very own internet site, while the continuing to be come from on the internet grocery store as well as quick-commerce platforms.The organization is likewise looking to turn successful on earnings prior to passion, tax, loss of value and amortisation (Ebitda) degree due to the conclusion of FY25. In FY23, Licious reported a 9% boost in earnings year-on-year, getting to Rs 748 crore, while its nonfeasance tightened through about 38% to Rs 529 crore." My Chicken and also Additional has obtained remarkable earnings every outlet, earnings, and also supply chain effectiveness, making it a well-run function. Our experts find fantastic market value in their procedures, customer-centric method, and also tough label support, which align perfectly along with Licious's perspective," they added.Founded in 2007, My Chicken and also More processes in between 1.6 million as well as 1.8 million orders every year. From 2021 to 2023, the company grew its own variety of channels coming from 10 to 23 and also produced revenues of Rs 110 crore in 2023." Partnering with Licious is actually certainly not pretty much growth for our team it concerns lining up along with a mutual vision of supplying buyers with high-quality, clean pork," pointed out S Mahesha, creator of My Hen and also Additional.
Published On Oct 14, 2024 at 02:30 PM IST.
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