Rebel Foods acquires controlling stakes in luxury chocolate brand SMOOR

Rebel Foods, the world’s largest internet restaurant company, said it has made an investment in the luxury chocolate brand, SMOOR, further consolidating its position as the Thrasio of food. The companies didn’t reveal the investment size but said that SMOOR  is now valued at upwards of $50 million.

This investment is in line with Rebel Foods' recent announcement of investing $150 million over the coming years, as part of its focus on investing and acquiring promising brands to serve more food categories from its cloud kitchens. With this investment, SMOOR aims to grow by 3x in the year 2022-23. SMOOR has witnessed tremendous growth and customer love even on online platforms and this partnership would further help in the brand growth.  

“The Indian chocolate market is growing at a breakneck pace, and we are proud to state the SMOOR is further spreading its wings in tandem with the industry,” said Vimal Sharma, CEO, SMOOR. “Having created and leading the couverture chocolate category in India, and introducing Indian dessert lovers to lavish indulgences with premium chocolates, cakes, macarons, and more, we are now thrilled to take the next step.”

SMOOR said it has single-handedly conceptualised and developed coverture chocolates and finely-crafted desserts in the country, with an above industry average CAGR of over 40 per cent over the last 5 years, indicating its domain leadership. The firm said it is bringing together authentic ingredients and offers a premium range of products including chocolates, signature cakes, gift hampers, desserts, beverages, and much more. It is available across their Signature Lounge, Cafes, Kiosks, own digital platforms as well as online aggregator platforms. 

“With Rebel Foods’ investment, we are set to make deeper inroads into the global market, introducing new and exciting confectionaries in multiple, accessible formats,” said Sharma of SMOOR.

The SMOOR brand has grown over 120 per cent since last year and is looking to achieve a scale of $100 million annual revenue by 2026, by expanding its presence in India and globally.  SMOOR will continue to build its omnichannel distribution strategy by expanding its physical customer experience centres across Tier 1 cities in India and accelerating its online presence across digital platforms. The future expansion will also include strengthening its physical presence in 9 cities (Mumbai, Pune, Hyderabad, Chennai, Bangalore, New Delhi, Gurgaon, Noida, Faridabad) and a fast-growing omnichannel presence. 

 “This investment gives us further confidence that we have been able to consistently choose outstanding brands,” said Raghav Joshi, co-founder, Rebel Foods.

 Rebel Foods Thrasio-style portfolio, termed Rebel Launcher, aims to add 40 to 50 food categories, prioritising missions like premium North Indian, South Indian, Indian sweets, and sandwiches,  in the coming year. Rebel also plans in the mid-to-long run to take all its Rebel Launcher brands globally across India, Indonesia, United Arab Emirates (Dubai, Abu Dhabi, Sharjah), the United Kingdom,  Singapore, Malaysia, Thailand, Hong Kong, Philippines, and Bangladesh, with its 10-country footprint.

“Being an early adopter of the Thrasio model in food in India, we have disrupted 500 years old industry of the traditional restaurant business, by building a full-stack technology-enabled platform - Rebel Operating System,” said Joshi of Rebel Foods. “Our focus will continue to be on bringing great quality brands to every neighbourhood across food missions.”