Partnering with Licious is not just about growth for us; its about aligning with a shared vision of providing consumers with high-quality and hygienic meat, said S Mahesha, founder of My Chicken and More (Photo: Upside Foods)2 min read Last Updated : Oct 14 2024 | 2:22 PM ISTDelightful Gourmet, which owns Licious, the direct-to-consumer (D2C) meat and seafood brand, has acquired Bengaluru-based offline retailer My Chicken and More in a cash and equity deal.
The acquisition marks a key milestone in Licious strategy to build an omni-channel presence, complementing its digital commerce, which currently reaches 4 million households.
With My Chicken and Mores 23 stores, Licious will expand its physical retail footprint to 26 points of sale.
The company didnt disclose the value of the transaction, but it is reportedly around Rs 200 crore.Vivek Gupta and Abhay Hanjura, co-founders of Licious, said that My Chicken and More has achieved impressive revenue per store, profitability, and supply chain efficiency, making it a well-run operation.
The acquisition will enable us to rapidly scale our offline presence in South India, said Gupta and Hanjura.Click here to connect with us on WhatsAppFounded in 2007, My Chicken and More has established itself as a strong regional player.
Between 2021 and 2023, the brand expanded from 10 to 23 outlets, generating revenues of Rs 110 crore in 2023.
It processes between 1.6 million and 1.8 million orders annually, with some stores attracting an average monthly footfall of 10,000 to 12,000 customers.Partnering with Licious is not just about growth for us; its about aligning with a shared vision of providing consumers with high-quality and hygienic meat, said S Mahesha, founder of My Chicken and More.Licious has built a robust online distribution model, serving nearly 1.2 million consumers monthly through the Licious app.
Its flagship loyalty program, Infiniti, has amassed 2 lakh weekly active subscribers, contributing to 58 per cent of monthly business.
Operating from five processing centres, Licious serves 20 cities through 100 delivery centres.Licious is now doubling down on building an omni-channel network, with the intention to open 500 offline stores in key markets over the next few years.First Published: Oct 14 2024 | 2:22 PMIST