Nandus, India’s leading farm-to-fork meat retail brand, has reached a significant milestone. In a noteworthy accomplishment, the self-funded startup based in Bengaluru has turned net profitable in July 2023. This announcement comes as a ray of hope for the meat industry, given the prevailing volatile economic environment and challenges that have been affecting the overall market.
Being the pioneer in the Indian meat retail sector to reach this remarkable feat, Nandus disclosed an impressive 15% increase in total revenue in July 2023 compared to July 2022. Moreover, it accomplished a substantial 27% growth in same-store sales for July 2023 when contrasted with July 2022, considering the same distribution channels. Notably, Nandus achieved a remarkable 51% growth in like-for-like (LFL) sales during the period spanning from August 2022 to July 2023, surpassing the growth from August 2021 to July 2022.
Established in 2016 as a versatile meat retailer across multiple channels, Nandus Foods envisions an impressive 35% growth in like-for-like (LFL) performance throughout the fiscal year 2023. This projection serves as a clear testament to the company’s resolute dedication to upholding its core business principles while placing utmost priority on customer contentment.
With the attainment of net profitability and a keen eye on the substantial market opportunities, Nandu’s is energetically accelerating the expansion of its operations across critical domains. Simultaneously, the company is engaged in discussions with select investors to explore the possibility of external equity funding, which would fuel their forthcoming stage of development.
Speaking about the new milestone, Narendra Pasuparthy, Founder and Chief Executive Officer, Nandus, said, “This is a proud moment for all of us at Nandus. Like any other legacy players and retail behemoths, our fundamental principles are rooted in sound business practices that values tradition, work culture, and success of our customers, vendors and investors while all through keeping the focus on delivering profits, driven by prudent business judgements. Despite the global economic slowdown and incessant industry challenges, Nandus has continued to expand the business, with renewed focus on quality and customer centricity. Our biggest USP has been the complete ownership and control across the entire supply chain from our farms to our retail stores, and even the last mile delivery to customers’ homes. We are grateful for the ever-growing love and unwavering trust of our customers; they are our biggest cheerleaders. Also, our employees, partners, advisors and well-wishers, who have helped us build a business that continues to positively impact the lives of many people and create new opportunities for economic growth. For Nandus, the journey has just begun. We have a long way to go.”
In the face of numerous direct-to-consumer (D2C) brands that flooded the market in recent years with substantial funding, our homegrown Indian brand stands out as the inaugural, and quite possibly sole, brand to attain profitability—an ultimate metric of paramount significance. Operating independently of external funding thus far, Nandus has ascended to a position of leadership in the D2C space for omni-channel meat retail. This accomplishment underscores its prowess in drawing and retaining customers, all while successfully generating profit.
By February 2023, Nandus had surpassed the noteworthy revenue benchmark of INR 100 crore, solidifying its standing as the preeminent and methodically structured omni-channel meat retail brand across the nation. Positioned to emerge as a dominant force within India’s burgeoning meat retail sector, the company is primed to extend its reach in both business-to-consumer (B2C) and direct-to-consumer (D2C) spheres. Additionally, Nandus is dedicated to enhancing the efficiency of its backend operations, enhancing its overall operational prowess.
Nandus’ mission has revolved around providing Indian consumers with easy access to fresh, wholesome, and premium-quality meat and meat products. Considering that a substantial 73% of the nation’s population incorporates meat into their diets, a vast market awaits attention. Moreover, in the present landscape, consumers are intentionally selecting trusted brands that guarantee elevated benchmarks of cleanliness, well-being, and the safety of the offerings and services they provide.
Nandus facilitates a direct connection between their own produce and the end consumer, ensuring an unwavering commitment to 100% traceability and openness. As a brand deeply entrenched in the farm-to-fork ethos, Nandus has diligently overseen its supply chain right from the inception, guaranteeing that their products remain devoid of hormones, steroids, antibiotics, and growth enhancers. This approach is coupled with a distinctive hyperlocal meat procurement experience, reflecting the brand’s dedication to quality.
Currently centered in Bengaluru, the hyperlocal label manages an extensive network of nearly 50 outlets within the city. Following an all-encompassing approach, Nandus embraces an omni-channel structure, incorporating both in-store/offline retail and efficient home delivery solutions through its dedicated e-commerce platform, app, call center requests, and the major e-commerce platforms. The trajectory of its expansion will be steered by a combination of proprietary and franchised stores, propelling the brand forward as it progressively amplifies its commercial presence.
