Chennai, NFA Post: Meat and seafood brand Licious on Tuesday forayed into the Chennai market. With its Chennai operation, the Bengaluru-headquartered company marks its entry into seventh market and the third one in the south.
Abhay Hanjura and Vivek Gupta, Co-Founders, Licious said, “Licious has to learn a city before launching in a city. Like every other city, Chennai has its own nuances in terms of consumer preference and taste profile; you will see a direct reflection of that in our Chennai product bouquet.”
Licious brings a total of 60 SKUs in Chennai, including preffred cuts of meat and delicacies like Chicken Chettinad roast, Kozhi Milagu Varuval, Mutton Chukka, Prawns Masala and Varutha Meen in the ready-to-eat category. The minimum delivery time for Licious in Chennai follows the national standard of 120 minutes, the company said.
“This is our 5th year in business and we are now focussed on strengthening our dominant market presence. As a full-stack consumer brand powered by technology, we see ourselves as agents of change, who are transforming the ecosystem by bringing in more trust and transparency. Chennai is a key market for us, and we are excited about introducing our transformational and category leading food brand here,” said the co-founders.
Since its inception in 2015, the company has created a convenient meat-buying experience for over 6,00,000 customers across India through online, app-based and in-store purchase. Licious is also present in Bengaluru, Hyderabad, the National Capital Region (NCR), Chandigarh, Mumbai and Pune. It works on a farm-to-fork business model, whereby the company owns the entire back-end supply chain.
India’s meat market is valued at $30 billion, with over 72% of the total population being meat eaters. Licious has raised a total of $64 million till date, the last round being in December 2018.
The company has deployed a sizable portion of the fund towards setting up and strengthening operations in Chennai. Nichirei Corp, 3one4 Capital, Bertelsmann India Investments, Vertex Ventures Southeast Asia and India, UCLA, Sistema Asia Fund, Mayfield Capital, Sistema Asia Fund, Korea based Neoplux Technology fund, Innoven Capital are some of the investors.