Licious, a leading meat and seafood home-delivery service, is set to bolster its offline presence with the opening of five physical stores in Bengaluru by June. Founders Vivek Gupta and Abhay Hanjura disclosed plans to escalate the store count to 35-40 across two-three cities by the end of the fiscal year. Over the next five years, the startup aims to establish 500 stores nationwide, emphasizing its “next big focus” area.
Transition to Omnichannel Approach
In a departure from the online-first model, Licious is tapping into offline retail to cater to customer preferences. This move aligns with a trend observed among various tech-first brands, which are diversifying into physical outlets to broaden their consumer base.
Pursuit of Profitability
Licious, backed by Temasek, is eyeing profitability on an EBITDA level by the end of FY25. The company, which reported an operating profit margin of around 6%, is implementing cost-cutting measures and technological interventions to enhance efficiency and reduce cash burn.
Market Dynamics and Growth Strategies
Despite challenges posed by macroeconomic factors and intensified competition, Licious remains optimistic about market potential. The company is focused on deepening its market penetration and fostering customer loyalty through initiatives like the ‘Infiniti’ subscription program.
Strategic Shifts and Future Outlook
Licious is recalibrating its business strategy to navigate evolving market dynamics and achieve sustained growth. By expanding its offline footprint and leveraging technology-driven solutions, the company aims to strengthen its position in the premium meat and seafood segment while advancing towards profitability.
