Direct-to-consumer (D2C) meat and seafood brand Licious has taken a strategic step in strengthening its omnichannel presence by acquiring Bengaluru-based offline retailer My Chicken and More for an undisclosed amount. This acquisition marks a key move in Licious’ strategy to extend its retail footprint, adding 23 physical outlets under the My Chicken and More brand, bringing the total number of Licious’ retail locations to 26.

Founded in 2015 by Abhay Hanjura and Vivek Gupta, Licious has earned a reputation for providing high-quality meat, seafood, and ready-to-cook products to millions of households. The brand currently serves 4 million households across 25 cities, primarily through its digital platform. However, this acquisition signifies the company’s foray into offline retail, complementing its digital commerce efforts.

Between 2021 and 2023, My Chicken and More expanded rapidly from 10 to 23 stores, generating Rs 110 crore in revenue in 2023. The retailer processes between 1.6 to 1.8 million orders annually, with some stores attracting 10,000 to 12,000 monthly customers. This makes it a valuable addition to Licious’ retail portfolio, offering access to an established customer base and enhancing its physical presence.

Licious achieved unicorn status in October 2021 after raising $52 million in a funding round led by IIFL AMC’s Late Stage Tech Fund. In the same year, it secured an additional $192 million in Series F funding, bringing the total capital raised to $490 million. Despite these funding milestones, Licious’ operating income saw a modest 9.6% increase in FY23, reaching Rs 747.7 crore, compared to Rs 682.5 crore in FY22. However, the company’s net losses also grew by 3.1%, reaching Rs 500 crore in FY23.

Licious continues to build a loyal customer base through its flagship program Infiniti, which has attracted 2 lakh weekly active subscribers. This program contributes 58% of the brand’s monthly business, underscoring its importance in driving recurring revenue.

The acquisition of My Chicken and More aligns with Licious’ long-term vision of becoming a dominant player in both online and offline retail. With this acquisition, Licious is poised to further solidify its market position, offering a seamless omnichannel experience to its customers across India.

Key Highlights:

• Licious acquires My Chicken and More, adding 23 physical outlets to expand its omnichannel reach.
• My Chicken and More generated Rs 110 crore in 2023 and serves 1.6-1.8 million orders annually.
• Licious, a unicorn since 2021, raised a total of $490 million but reported net losses of Rs 500 crore in FY23.
• The acquisition supports Licious’ goal to strengthen its position in both online and offline retail markets.