Wholsum Foods, a health food startup, has its sights set on attaining profitability by mid-2025, according to Co-Founder Meghana Narayan.
With an impressive track record, Wholsum Foods has achieved a staggering year-on-year growth of 200 percent over the past three years.
“Last fiscal, we clocked INR 100 crore in revenue. We are targeting an ARR of INR 180 crore by this fiscal end,” she said.
Currently, Wholsum Foods generates its revenue from various channels. Direct-to-consumer (D2C) sales account for 20 percent of their total revenue, while another 20 percent is derived from retail partnerships. The remaining 60 percent of their revenue is generated through e-commerce platforms.
“We are expecting that the retail will grow to about 40-45 per cent over the next 18 months or so,” she stated.
Presently, Slurrp Farm has established its presence in an extensive network of 2,000 stores across tier 1 and 2 cities in India. These include prominent locations such as Bangalore, Hyderabad, Delhi NCR, Mumbai, Chennai, and Kochi.
“Our target is to increase our presence to 10,000-15,000 stores by the end of this fiscal year. Broadly, we are aiming to reach 40,000 in the next 3 years pan India with a focus on tier 1 & 2,” she stated.
In addition to its flagship brand, Wholsum Foods has recently introduced its second brand called Mille, catering to consumers in the 25-40 age group. This new brand expansion has been launched across various tier 1 and 2 cities, strategically targeting the desired demographic.
As part of its initial rollout, Wholsum Foods has introduced a wide array of products spanning multiple categories. The offerings encompass breakfast cereals, cake mix, pancake mix, and an assortment of whole grains, which serve as gluten-free alternatives to traditional rice and wheat options.
“Mille offers a range of high-plant protein and fiber-rich products for all ages. The brand uses a unique combination of millets, lentils, and legumes to bring the power of millets to consumers’ plates,” she said.
In the upcoming year, Wholsum Foods has outlined an ambitious growth strategy that involves expanding its presence in existing categories while also venturing into new product categories. The brand aims to diversify its offerings, catering to a broader range of consumer preferences and requirements.
Talking about the retail strategy of the brand, she said, “We will follow the Slurrp Farm trajectory with Mille. We will launch the products online first which includes our own website (D2C) and leading e-commerce platforms, then we will focus on retail expansion.”
“The next 18 months will be around experimenting in terms of product and market fit. We will be first building the brand in India and then in international markets. The US is a primary market that we are really excited about. After the US, the UK will be a key market,” she added.