Launching the plant-based meat brand UnCrave, Licious wagers on the "house of brands"

Due to rising demand for such products as a result of growing health and environmental concerns, online meat vendor Licious is relying on a "house of brands" strategy and has introduced the plant-based meat brand UnCrave.

The action was taken after the D2C unicorn started branching out into the ready-to-eat market and opening offline locations at a time when D2C businesses are struggling to maintain growth.

"We wanted to offer our customers a substitute for their appetites for meat. Therefore, we even came up with the term "Uncrave," according to Simeran Bhasin, Business Head of Alternative Protein-Licious.

The new independent brand UnCrave will launch with vegetarian "chick'n" and "mutt'n" seekh kebabs in major cities, claims the Temasek-backed business.

As many people limit their consumption of animal-based meat on particular days, Bhasin said, "we wanted to diversify and provide them an option that's equally good on par with meat."

These so-called "house of brands," or companies in the vein of Thrasio, buy or develop online-only brands and assemble a portfolio of them.

cutting off logos

Licious made an investment in Bengaluru-based Pawfectly Made, a fresh pet food firm, and announced that it will be on the lookout for strategic acquisitions.

According to certain reports, the unicorn was considering the category of alternative proteins, which included plant-based meat. Plant-based meats have attracted a lot of attention in recent years.

India's plant-based meat market is anticipated to increase to $400 million over the next two years, according to the Plant Based Foods Industry Association (PBFIA). In India, there are more than 200 businesses producing plant-based meat, dairy, eggs, and ingredients.

The brand will increase its customer base with Uncrave.

The co-founders of Licious, Abhay Hanjura and Vivek Gupta, stated in a statement, "We have spent in over 20 months of in-house R&D to develop a variety of goods that closely resembles the taste and texture of meat in a never-before-experienced way.

The business said it paid great attention to the nutritional profile and created a protein-rich vegetarian dish free of MSG and other preservatives.

They were alluding to the flavour enhancer monosodium glutamate, which is used in meats and by eateries. It can also be present in some organic foods, but its potential health implications are hotly contested.

They stated, "With UnCrave, our goal is to introduce the nation to newer ways of eating meat."

The business anticipates that the category's addressable market will be identical to the meat industry, with the addition of "curious vegetarians" who would investigate it.

By 2024, the meat business will be valued $80-$85 billion, predicts market research firm RedSeer.

Licious has over 2.5 million consumers that have registered on the platform, and monthly, recurring customers account for 85% of its revenue.

The business raised $52 million in 2021 at a $1 billion valuation. $150 million more was raised earlier this year.