Hardeep Singh
With the launch of Licious, there is no scarcity of fresh meat and fish.
Whether you enjoy poultry, beef, fish, eggs, or cold cuts, Licious is always around to deliver the greatest goods to your house.
In 2021, the Direct-to-Consumer meat and fish brand is expected to be the main Indian unicorn organisation from the D2C segment and the country’s 29th unicorn. Licious became a unicorn on October 5, 2021.
About
Licious is a meat and seafood brand established in Bengaluru. The company provides the greatest, freshest, and cleanest fish, poultry, beef, and eggs online. Licious employs a farm-to-fork model, claiming ownership of the whole back-end production network as well as the cold chain. A separate recipe section is also available on their app. It supports consumers in preparing delicious foods. Furthermore, it demonstrates the extravagant culinary professional approach.
It is available in Bangalore, Hyderabad, Delhi-NCR, Chandigarh, Mumbai, Pune, Chennai, Coimbatore, Pondicherry, Jaipur, Kochi, Vizag, Kolkata, and Vijayawada, among other places.
Startup Story
Abhay Hanjura approached Vivek Gupta (who was then working with Helion ventures) to examine the space of fresh meat and fish transportation in India. Despite the fact that 73% of Indians consume meat and fish, the industry is extremely sloppy. A typical Indian household consumes 2000-3000 various marked products, with meat being the most notable exception (indeed, nearly). Over 95 percent of India’s new meat and fish business is sloppy, evoking images of an unsanitary neighbourhood market, rottenness, stink, and an unpleasant purchase experience. The team needed to drastically modify India’s perception of meat.
Abhay and Vivek were eating while discussing a business idea. The chicken they were eating was of just appalling quality. That’s what Vivek said, ‘assuming we need to create Licious, we should give this dead chicken life!’ That was the moment they realised what they needed to achieve with Licious: provide an unparalleled significant experience to Indians, provide global quality rules and benchmarks, establish a previously non-existent structure, and develop procedures that India was now to see.
Licious chose a simple mission statement: we won’t sell anything we wouldn’t eat ourselves!
This fundamental principle has been the driving force for the company for the past five years and continues to remain so.
Founders And Team
Licious was founded by Vivek Gupta and Abhay Hanjura.
Vivek Gupta
Vivek Gupta is a co-founder of Licious. He began his career as Tavant Technologies’ Corporate Finance Manager. Vivek recently joined as Helion Ventures’ Finance Controller and MobiCom Commune Pvt. Ltd.’s Non-Executive Director. He received his BCom from Punjab University and went on to become a Chartered Accountant (CA).
Abhay Hanjura
Abhay Hanjura is also a co-founder of Licious. He was Infosys’s campus diplomat. Abhay began his career with India Insure Risk Management Services as a Deputy Manager. He was also the Futurisk Insurance Broking Pvt Ltd’s Head of Business Intelligence and Associate Director.
Licious has around 3500 representatives that are currently working with the group.
Revenue Model
Licious earns a substantial portion of its revenue from the sale of meat, fish, marinates, and eggs. Other earnings arise from the delivery of the merchandise and other related services.
Licious has amassed over 1 million amazing clientele so far. The standard basket size is INR 700. The business earned INR 1.47 crores in its first fiscal year. The income earned in the fiscal year 2019-20 was INR 180 crores.
The firm retained its operating earnings at Rs 420.3 crores in FY21, a 3.2X increase over the Rs 131.8 crores it managed to obtain in FY20. However, the organisation’s absolute costs increased by 128 percent to Rs 646.5 crores in FY21, from Rs 283.8 crores in FY20. The firm had experienced losses that have increased by 153 percent from Rs 146.3 crores to Rs 370 crores in FY21. In any event, their EBITDA margins have increased dramatically from – 95.12 percent in FY20 to – 43.31 percent in FY21, while they are optimistic for more increase in FY22.
Growth and Revenue
The company increased by 500 percent in the preceding year and continues to thrive. While all product categories showed growth, the ready-to-cook and ready-to-eat categories contributed significantly to income. Goods such as the kebab range and chicken spreads have emerged as strong selections, while novel send-offs such as baked items are also gaining traction. Now, Licious is regarded as the most important player in this segment.
Licious claims to have delivered 2,000,000 orders to special clientele to date. The average basket size per customer increased by 30% as well.
The company has participated in a repeat purchasing rate of 90% and will continue to do so. Licious also engages entirely in how the business efficiently serviced millions of new clients in the preceding year.
Most Indians, according to popular belief, are vegans. This, however, is not correct. In India, meat is consumed by more than 73 percent of the population. This is the most important reality behind Licious’ evolution. According to reports, the new meat and seafood market is incredibly messy. As a result, online stages have emerged to aid people all around the world.
Licious ensured the cleanliness and quality of its customers.
Licious’ revenue from tasks increased by 3.2X from Rs 131.8 crore in FY20 to Rs 420.3 crore back in FY21. Company new meat, fish and fish products, marinates, and eggs accounted for around 97.2 percent of its revenue. The remainder of its earnings came from deliveries and other associated services. Licious’ losses increased by 153 percent to Rs 370 crore, while the organisation’s EBITDA margins increased from – 95.12 percent to – 43.31 percent in FY21.
Future Plans
Licious has broadened its branches over 2020 and 2021, and are still expanding in 2022.
Licious formerly worked in 14 business sectors throughout India, including Bangalore, Hyderabad, NCR, Chandigarh, Mumbai, Pune, Chennai, Jaipur, Coimbatore, Kochi, Puducherry, Vizag, Vijayawada, and Kolkata, and has now expanded to 16 urban communities.
Licious will continue to expand to 10+ Indian urban towns over the next year. A global expansion is also on the horizon in the not-too-distant future.
