Landcraft Retail, led by serial entrepreneurs Lalit Jhawar and Mayank Gupta, has secured an undisclosed amount in funding. This round of investment includes contributions from prominent figures such as supermodels Ujjwala Raut and Vartika Singh, designer Payal Singhal, digital creator and mom blogger Simone Khambatta, as well as luxury fashion house Purple Style Labs, among other high net worth individual angel investors.
Designed to captivate food aficionados, Landcraft Retail launched its first-ever store in Bandra West, Mumbai. Spread across four floors and covering 25,000 square feet, Food Square aims to emerge as the premier destination for gourmet enthusiasts. Boasting an in-house bakery, a dedicated truffle section, an impressive array of over 350 cheese varieties, and a cozy café, Food Square offers a plethora of experiences, including a salad bar, a specialty pet store as well as the spice mill. Prioritizing offline retail, Food Square is committed to delivering an unparalleled shopping venture.
Continue Exploring: Go DESi secures INR 41 Crore funding led by Aavishkaar Capital
Regarding her investment, Ujjwala Raut expresses, “Food Square embodies culinary brilliance on par with international standards, providing an unmatched shopping experience reminiscent of the finest establishments in the UK or US. With its diverse range of offerings and flawless accessibility, every aspect of this distinctive store radiates sophistication. It stands as a jewel in its own right, and I recognize significant potential in its vision.”
Regarding the utilization of the newly acquired funds, Lalit Jhawar and Mayank Gupta, the Co-Founders of Landcraft Retail, stated, “Landcraft Retail serves as an extension of our agricultural venture, Trueganic by Landcraft Agro. Trueganic offers fresh fruits and vegetables to more than 200 supermarkets as well as gourmet stores throughout West and South India. Venturing into retail was a natural progression for us. With a target of acquiring more than 200,000 customers, our aim is to achieve an annual revenue milestone of 300 Crores in the next three years and introduce over 20,000 SKUs across the store. This marks just the beginning of our journey, and we are steadfast in our commitment to bring global culinary experiences to India.”
Sharing insights on the brand potential of Food Square, Abhishek Agarwal, the Founder of Purple Style Labs, commented, “We’ve always believed in the luxury growth trajectory of Indian consumers over the next 2-3 decades, as demonstrated by scaling Pernia’s Pop-Up Shop by 100x in the last 6 years. By combining the untapped potential of gourmet offerings in luxury retail with the founding team’s expertise in introducing global food experiences to India, we are confident that Food Square will achieve remarkable success. With our investment, we aim to leverage our expertise to bolster Food Square and play a pivotal role in establishing the brand as the premier luxury gourmet shopping destination across India.”
Continue Exploring: Boba Bhai secures INR 12.5 Crore in seed funding led by Titan Capital and Global Growth Capital UK
