Pluckk Achieves ₹100 Crore ARR Milestone, Fueled by Partnerships and Expansion

Pluckk, a food and beverage brand, has reached an annual recurring revenue of ₹100 crore in FY24, driven by strategic partnerships and acquisitions. The brand plans to expand to 15 cities in two years, aiming to become a significant player in the food segment.

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Aqsa Younas Rana
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Pluckk Achieves ₹100 Crore ARR Milestone, Fueled by Partnerships and Expansion

Pluckk Achieves ₹100 Crore ARR Milestone, Fueled by Partnerships and Expansion

Pluckk, a food and beverage brand backed by Essar Capital and Exponentia Ventures, has reached a significant milestone by closing FY24 with an annual recurring revenue (ARR) of ₹100 crore. Launched just two years ago, the brand's rapid growth and expansion have been driven by strategic partnerships, acquisitions, and collaborations.

Why this matters: The success of Pluckk highlights the growing demand for online food and beverage services in India, which could lead to increased competition and innovation in the industry. As Pluckk expands its operations, it may also create new job opportunities and contribute to the country's economic growth.

In the last 12 months, Pluckk has doubled its revenue, selling 1.8 million packets per month to a customer base of 5 lakh. The brand is expected to grow three times in FY25. Chief Financial Officer Nelson D'Souza stated, "We have doubled revenue in the last 12 months, I think that trend is going to continue."

Pluckk's success can be attributed to itspartnershipswith major e-commerce platforms such as Amazon, Zomato, Swiggy, and bigbasket, as well as its own app. The brand has also acquired KOOK and collaborated with actress Kareena Kapoor Khan. Additionally, Pluckk has a limited presence in physical stores like Spencer's and Nature's Basket.

Currently delivering in Bengaluru, Mumbai, and Delhi, Pluckk plans to expand to five cities this year, 10 cities next year, and 15 cities in two years. The brand aims to build a national-level distribution network or supply chain that can be leveraged as it expands pan-India.

The value-added food segment, which includes juices, dips, salads, and do-it-yourself meal kits, is expected to grow rapidly. This segment constitutes around half of Pluckk's total portfolio, with around 500 products, up from 300 last year. Juices, launched only last month, are already doing sales at ₹6 crore ARR.

Pluckk had initially raised $5 million and plans to raise more funds as it expands. D'Souza explained, "We would look at it going forward because the expansion would need a good amount of capex. We would look at raising funds from the market at the appropriate time."

Looking ahead, D'Souza expressed confidence in Pluckk's future growth, stating, "So next five years, I think we should, we should be a significant player in this space." With its impressive ARR milestone, strategic partnerships, and expansion plans, Pluckk is well-positioned to become a major player in the food and beverage industry in the coming years.