Ethnic food firm – Spice Story is joining hands with Jayanti Herbs and Spice for its offline expansion and expects to reach 15000 stores by March next year.
As for now, Spice Story, a direct-to-consumer company, functions largely through an online network and 1200 stores in the physical space, but via this partnership, Spice Story will leverage Jayanti Herbs & Spice’s 23000-strong distribution channel of multi-brand modern format retail stores, both national and regional chains along with standalone modern retail stores.
Soumyadeep Mukherjee, founder & CEO of Spice Story, said that this is a partnership we look forward not only from a business augmentation point of view but because of the fact that both organizations have a lot in common in terms of thought process and vision. Both brands have a consumer-first approach with convenience at its core. It would also help in strengthening our product development strategy,”
Bangalore-based Jayanti Herbs & Spice is one of India’s oldest and the world’s leading premium suppliers of herbs and spices. The 75-year- old company owns the premium spice brand ‘On1y’ which offers over 30 different kinds of herbs and seasonings.
Apart from network expansion, Jayanti Group will also help widen its distribution portfolio by adding complementary products of Spice Story that had more than a dozen indigenous and unique ready-to-eat chutneys targeting an audience base that looks for affordably premium products.
Backed by VC firms such as venture catalysts, Agility Ventures and marquee industry professionals, Spice Story has been growing at over 50 % annually. Founded in the year 2019 by Mukherjee, the brand is mulling plans to enter new categories over the next 3-4 quarters and grow its business 25 times by 2025.
While Jayanti Group will continue to build and strengthen its offline network, with Spice Story coming on board, they can now strengthen our eCommerce play as well, with a wider range of products for the consumers too.