Food-tech company Curefoods is broadening its business strategy as it prepares for a stock market debut. The company is expanding into new categories including fried chicken, premium ice cream, and budget coffee, while continuing to scale its existing brands in pizza, biryani, and desserts.
The firm has already received approval from the Securities and Exchange Board of India and is expected to go public in the second quarter of the next financial year.
From Cloud Kitchens to Multi-Brand Food Platform
Founded by Ankit Nagori, Curefoods initially grew through a delivery-first cloud kitchen model. As it approaches its IPO, the company is repositioning itself as a broader multi-brand food platform with a stronger focus on offline retail and direct consumer channels.
The shift comes as food delivery platforms become more expensive due to rising customer acquisition costs and commission structures.
The company expects to close the current fiscal year with 25–30% year-on-year growth.
Scaling Core Brands
Curefoods continues to build momentum across its established brands. Its pizza portfolio, including Olio and Nomad Pizza, is one of the fastest-growing segments and is projected to reach ₹500 crore in revenue by FY28.
Meanwhile, Sharief Bhai Biryani has already crossed ₹175 crore in annual revenue and is expanding into southern markets and Tier-II cities.
Desserts are another priority, driven largely by the company’s pan-India franchise rights for Krispy Kreme. Within a year of acquiring the franchise rights, Curefoods has expanded the brand to more than 100 outlets across cities including NCR, Jaipur, Chennai, Hyderabad, and Bengaluru. Airports and large malls are emerging as key expansion locations, with Chandigarh, Pune, and Mumbai next on the roadmap.
Strengthening Offline Channels
Curefoods plans to increase the share of revenue generated through its own channels rather than third-party delivery platforms. The company aims to derive 50% of its revenue from direct channels by FY28, with 80% of that coming from physical stores.
Krispy Kreme kiosks in airports and tech parks are central to this strategy. Coffee has become an important revenue driver within these formats, accounting for around 15% of kiosk sales. Priced starting at ₹69 with combo offers around ₹99, the coffee offering targets high-frequency consumption among office-goers rather than competing with premium café chains.
Entering Fried Chicken and Ice Cream
As part of its diversification strategy, Curefoods is also entering the fried chicken category with PHAT (Pretty Hot And Tempting), an in-house brand targeting younger consumers aged 15–25. The concept will focus on digital-first marketing, Korean-inspired flavours, and pricing slightly below established chains like KFC and Popeyes.
The company is also building a premium ice cream business through PapaCream, for which it holds pan-India franchise rights. Positioned around indulgent sundae-style formats, PapaCream currently operates in more than 50 cloud kitchens and is expected to scale to 100–150 locations by the end of the year.
Curefoods aims for the brand to achieve a ₹50 crore run rate next year, with the potential to reach ₹100 crore in the following phase.
Preparing for Public Markets
The company’s aggressive expansion comes at a time when India’s quick-service restaurant sector has faced a prolonged slowdown over the past three years, influenced by inflation, changing consumer spending patterns, and rising operational costs.
As Curefoods moves toward its IPO, investors will likely focus on store-level profitability, capital efficiency, and the sustainability of its multi-brand model.
By diversifying into high-volume categories such as chicken, coffee, ice cream, pizza, and biryani while strengthening its physical retail presence, Curefoods is betting that a hybrid approach combining delivery and offline formats will support long-term growth as it prepares to enter the public markets.
