Licious Crosses ₹100 Crore Monthly Revenue Mark, Signals Strong Post-Pandemic Growth

Omnichannel meat and seafood retailer Licious has achieved a major milestone by crossing ₹100 crore in monthly revenue for the first time, driven by rapid delivery, strong repeat demand, and a fast-growing subscription base. The achievement highlights a clear turnaround in growth momentum after a prolonged post-pandemic slowdown.

Licious Crosses ₹100 Crore in Monthly Revenue

Licious has crossed the ₹100 crore monthly revenue mark for the first time, a major milestone for the omnichannel meat and seafood retailer, a company spokesperson confirmed. The company recorded net revenue of ₹103.4 crore ($11.4 million) in November, marking its first-ever three-digit monthly performance since its launch in 2015.

Clear Shift in Growth Momentum

This milestone reflects a clear turnaround in growth after a prolonged post-pandemic slowdown. The momentum has continued into FY26, with parent company Delightful Gourmet Pvt Ltd reporting ₹530 crore in net revenue in the first six months of the fiscal year, a 42% year-on-year increase, according to people familiar with the matter. Monthly revenue rose from around ₹94 crore in October to crossing the ₹100 crore mark in November.

What Is Flash and Why It Matters for Licious

Licious’ 30-minute rapid delivery service, Flash, has emerged as a key growth driver. Nearly 50% of the company’s monthly sales now come from Flash orders, which also account for about half of total platform traffic. This trend highlights growing consumer preference for faster delivery of fresh meat and seafood.

Repeat customers contribute around 85% of monthly revenue, supported by higher order frequency and shorter delivery timelines.

How Important Are Offline Stores to Licious’ Business?

According to the report, Licious’ omnichannel strategy is now delivering results at scale. Of the ₹103.4 crore revenue recorded in November, around ₹88 crore came from online channels, while offline stores contributed nearly ₹16 crore.

The company currently operates over 55 physical stores across the top three metro cities. Licious now serves nearly 1.5 million users, including more than 100,000 repeat offline customers, indicating early success in physical retail expansion.

Size of Licious’ Subscriber Base

Subscription-led demand has improved visibility and predictability of revenues. Licious’ Infinity subscription programme now has around 3.2 lakh subscribers, nearly four times higher than a year ago. The renewal rate stands at approximately 87%, reflecting strong engagement among high-frequency users.

Flash remains at the centre of this momentum, accounting for about 50% of platform traffic, while repeat customers continue to contribute nearly 85% of monthly revenue, helping improve unit economics.

Improving Industry Conditions

Industry dynamics have also turned favourable. Quick-commerce platforms have scaled back aggressive expansion in the meat and seafood category, while new partnerships with Licious have reduced competitive pressure and helped stabilise growth.

With multiple demand drivers working in tandem, industry experts believe Licious is entering its next phase of scaled and sustainable growth.

India’s Meat Market Outlook and Licious’ IPO Plans

According to industry estimates, India’s meat market was valued at $55.3 billion in 2024 and is expected to reach $114.4 billion by 2033. Rising protein consumption, lifestyle changes, and growing demand for hygienic sourcing are driving growth across consumer touchpoints.

Licious was last valued at $1.5 billion during its 2023 funding round, with backers including Temasek, Vertex Ventures, and Bertelsmann Investments. The company is also considering an initial public offering (IPO) by 2026.