FreshToHome expects to clock revenues of ₹1,500-2,000 crore in FY23

Isha Rautela | Updated on: Jun 22, 2022
FreshToHome to open more retail outlets in the coming six months.

FreshToHome to open more retail outlets in the coming six months.

Plans to increase retail presence in the country

Clocking in promising revenue growth last year, FreshToHome, a direct-to-customer meat and seafood start-up, expects to continue growing its revenue base in FY23. The company told BusinessLine that it expects to reach a turnover of ₹1,500-2,000 crore in FY23.

“We are the largest company in this segment, both in terms of revenue as well as orders. Last year, our revenue figures stood at ₹1,200 crore, which we expect to reach ₹1,500-2,000 crore in FY23,” said Shan Kadavil, CEO and founder, FreshToHome. The company receives a total of 2.5 million orders every month, across all categories.

Kadavil said that there are plans to expand both nationally and internationally. On a national front, the company is building itself as a retail major.

Earlier this year, FreshToHome launched its retail stores in four cities. “Currently, we have 70 retail outlets, in four cities – Bengaluru, Chennai, Delhi and Hyderabad. We intend to open another 200 stores in the next six months,” he added.

 

International operations

FreshToHome started its operations in the UAE in 2019. Kadavil said, “We are close to generating $20-million revenue annually, which is the highest for any company in the business of sea and meat alone, in UAE.” He added, “Saudi Arabia is our next big market.” The company plans to expand its business in the remaining six Gulf Cooperation Council (GCC) in another six months.

He credits this success to the brand’s ability to deliver products on time. “We are able to deliver our fresh products within 24 hours from the catch to the destinations, with a three-four hour flight journey such as Delhi and Dubai.”

“We plan to expand our workforce from 4,000 to 8,000 employees in the next two years,” said Kadavil. Apart from the direct employee base, based on the figures from two years ago, the company also has about 13,000 farmers and fishermen in its network.

The company intends to launch a “ready-to-fry” range, targeting children. The company claims that these products are free from harmful preservatives and additives. The new range would go live on both online and offline channels in the coming week.

Published on June 22, 2022
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