Licious crosses ₹100 crore monthly revenue mark for the first time

Omnichannel expansion and repeat demand fuel the meat retailer's post-pandemic growth rebound

Licious, the omnichannel meat and seafood retailer, has posted monthly revenue exceeding ₹100 crore for the first time, a milestone that signals a growth inflection after an extended post-pandemic slowdown. The company reported net revenue of ₹104 crore in November, its first three-digit monthly performance since inception.    The milestone caps a strong first half for parent Delightful Gourmet Pvt Ltd, which posted ₹530 crore in net revenue in H1 FY26, up 42 per cent year-on-year. Monthly revenues rose sequentially from ₹94 crore in October to over ₹100 crore in November, underlining accelerating demand and improving execution as the financial year progresses.    A key driver of the recovery has been the maturing of Licious’ omnichannel model. In November, the company generated ₹88 crore from online channels and ₹16 crore from offline stores. Licious now operates over 55 physical stores across the top three metros, with offline locations beginning to contribute meaningfully to overall scale rather than remaining purely customer-acquisition touch points.    The platform currently serves around 1.5 million users, including over 100,000 repeat offline customers, reflecting early success in integrating online and physical retail.    “Growth in FY26 has been driven by a combination of higher transacting users, strong repeat behaviour, and rising demand for faster deliveries,” the company said in a statement.    Central to this momentum is Flash, Licious’ 30-minute delivery service, which now accounts for nearly 50 per cent of platform traffic. Repeat customers contribute around 85 per cent of monthly revenue, providing predictability and improving unit economics. The company’s Infinity subscription programme has also scaled rapidly, crossing 3.2 lakh subscribers, nearly four times year-on-year, with renewal rates of about 87 per cent.    Industry dynamics have also turned more favourable. The pullback by quick-commerce platforms from aggressively scaling meat and seafood categories — along with renewed partnerships with Licious — has eased competitive pressure, helping stabilise growth. With multiple demand levers firing simultaneously, industry experts said Licious appears to be entering its next phase of scaled, sustainable growth.    India’s meat market was worth $55.3 billion in 2024 and is projected to reach about $114.4 billion by 2033, according to industry estimates. Rising protein consumption, lifestyle shifts and demand for hygienic sourcing are pushing the category across consumer touch points.    Licious was last valued at $1.5 billion during a 2023 funding round, and it counts Temasek, Vertex Ventures and Bertelsmann Investments among its backers. The company is eyeing an initial public offering by 2026.