Licious, the prominent meat and seafood home delivery service, is making strides into the offline realm with plans to launch five physical stores in Bengaluru by June. Co-founders Vivek Gupta and Abhay Hanjura revealed that the company aims to expand its store count to 35–40 across two to three cities by the end of the fiscal year. This shift towards brick-and-mortar outlets is part of Licious’ strategy to attract new users through offline channels and eventually transition them to online transactions.
Looking ahead, Licious has set ambitious goals, intending to establish 500 stores nationwide over the next five years. “Traditionally, meat is a category that has always been offline-first, and we’re just going where the customer is,” explained Hanjura, emphasizing the strategic significance of tapping into offline markets.
As Licious embarks on its omnichannel journey, the company is also focused on achieving profitability by the end of FY25. Gupta highlighted that the company currently operates with a 6% operating profit margin, excluding marketing and corporate costs. This move towards profitability follows recent efforts to streamline operations, including the introduction of improved demand forecasting and a subscription model for sustained growth.
Despite challenges such as a consumption slowdown and increased competition, Licious remains optimistic about its prospects. The company is witnessing promising growth in its subscription service ‘Infiniti’, which boasts 1.5 lakh subscribers currently, driving 40% of its revenue. With plans to expand its subscription base and deepen market penetration, Licious aims to cement its position as a leader in the premium meat and seafood market, leveraging both online and offline channels to drive sustained growth.