According to Vivek Gupta, the co-founder of meat and meat products online platform Licious, they anticipate its revenue to cross the Rs. 1,500 crore mark in 12 months, but it is not planning an initial public offering before 2025 or 2026.
Licious, which functions in 28 Indian cities, including Bangalore, Hyderabad, Delhi-NCR, Chandigarh, Mumbai, Pune, Chennai, and Kolkata, through its online channel, is also looking to have a presence through offline retail stores besides expanding its product offerings.
The company is at around Rs. 1,000 crores, but in 12 months they expect to be at about Rs. 1,500 crores.
Gupta said, “In the last 12 months also, we would have grown more than 50 percent, and that is how we look at it.” Every time the revenue run rate goes up by 50 percent in a 12-month period, that is what I will continue to look at, even in the future.
Licious has in total acquired around 28 lakh consumers till now, doing 11 lakh transactions a month with an average order ticket size ranging between Rs. 600 and Rs. 650, and has been able to sustain the growth momentum witnessed during the pandemic, having witnessed a little dip in the October-December period of last year when COVID-19 started settling down.
At present, Licious is not present in modern trade and general trade distribution because it has only one or two products to test the market. So, that is one channel the company is looking forward to investing in: distributing Licious products in model trade. Licious’ own stores, which are exclusive business outlets, are the second thing they are experimenting with.
“We have, as of today, seven such stores that are either open or a few of them are getting opened.” “These two channels we will continue to dial up in the next 12 months,” Gupta said. Also, he said Licious plans to introduce new products, including widening the portfolio of the ready-to-eat segment and adding different flavours that encompass the tastes of different parts of India.