Bengaluru-based fresh foods company, iD Fresh Food, has announced plans to expand into 11 new cities across six states in India. The expansion includes tier II and III markets such as Goa, Indore, Ahmedabad, Surat, Vadodara, Dehradun, Panchkula, Chandigarh, Jaipur, Lucknow, and Bhopal. The company, which reported 25% year-on-year growth in FY24, aims to achieve a revenue of Rs 700 crore in FY25.
Rajat Diwaker, CEO (India), iD Fresh Food, said, “Expanding to 11 cities is a strategic decision to explore opportunities in Tier I and II cities of India.”
The company plans to establish distribution centres in select cities within the next one to two months. Products will be available through both online and offline channels.
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This latest development comes as the company prepares for a potential IPO in the near future, while also ramping up its expansion into international markets.
PC Musthafa, global CEO and co-founder of iD Fresh Food, said the company aims to become the market leader in these regions within the next 12 to 18 months.
Currently, iD Fresh Food operates in over 45 cities across 30,000 retail stores in India, UAE, US, and UK. The company’s product portfolio includes ready-to-cook items such as batters, parotas, chutneys, paneer, curd and coffee.
From: financialexpress
Financial News
