Licious Acquires My Chicken and More to Boost Offline Presence

Direct-to-consumer (D2C) meat and seafood brand Licious has acquired Bengaluru-based offline retailer My Chicken and More for an undisclosed sum, marking a strategic move to expand its omnichannel presence. The acquisition will help Licious extend its retail footprint by adding 23 physical outlets under My Chicken and More, bringing its total points of sale to 26. This move complements Licious’ digital commerce reach, which currently serves 4 million households across 25 cities.

Founded in 2015 by Abhay Hanjura and Vivek Gupta, Licious is known for offering high-quality meat, seafood, and ready-to-cook products. With My Chicken and More, the brand gains access to a thriving offline retail presence. Between 2021 and 2023, My Chicken and More expanded from 10 to 23 stores, generating revenues of Rs 110 crore in 2023. The retailer processes between 1.6 to 1.8 million orders annually, with some outlets averaging 10,000 to 12,000 monthly customers, making it a strong addition to Licious’ portfolio.

Licious became a unicorn in October 2021 following a $52 million 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 its total capital raised to $490 million. Despite this, Licious saw a modest 9.6% increase in operating income to Rs 747.7 crore in FY23, up from Rs 682.5 crore in FY22. However, its net losses also saw a slight rise, growing 3.1% to Rs 500 crore in FY23.

Licious continues to build customer loyalty through its flagship program Infiniti, which has garnered 2 lakh weekly active subscribers, contributing 58% of the brand’s monthly business. The acquisition of My Chicken and More aligns with Licious’ long-term vision of becoming a dominant player in both online and offline retail segments, further strengthening its market position.