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The Better For You Co. Acquires Kombucha Town, Expands Gut Health Portfolio

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The Better For You Company has acquired the assets of Kombucha Town and its extension brand Live Seltzer out of Chapter 11 bankruptcy, marking a strategic move to strengthen its position in the functional beverage space. The deal, finalized on April 6, 2026, brings together Kombucha Town’s established presence in the Pacific Northwest with BFYC’s science-driven wellness platform, led by industry veteran Rich Funk.

The acquisition follows a challenging period for Kombucha Town, which had filed for bankruptcy in late 2025 after struggling with operational and financial pressures. By stepping in, BFYC aims to stabilize the brand’s core business while preserving its strong regional identity across Washington and Oregon, where it has built loyal consumer traction over the years. The company has also acquired key manufacturing assets, intellectual property, and the Live Seltzer product line, enabling a more integrated and scalable operating structure going forward.

Strategically, the move represents a convergence of two complementary approaches within the wellness beverage category. Kombucha Town brings a heritage rooted in traditional fermentation and probiotic gut health, while BFYC’s flagship brand Boom Chaga focuses on mushroom-based functional drinks centered around immunity and anti-inflammatory benefits. By combining these strengths, the company is positioning itself as a broader gut-health and functional nutrition platform that can cater to multiple consumer needs, from digestive health to overall wellness.

The addition of Live Seltzer further expands this portfolio by introducing a lighter, low-calorie probiotic beverage option that appeals to consumers seeking everyday hydration with functional benefits. Together, the three brands create a diversified offering spanning kombucha, mushroom-based drinks, and probiotic seltzers, allowing BFYC to compete across multiple segments within the rapidly growing functional beverage market.

Looking ahead, BFYC plans to maintain Kombucha Town’s local authenticity while exploring opportunities to modernize its branding and align it more closely with the minimalist, performance-oriented aesthetic of Boom Chaga. This could include a phased rebranding strategy, although the company has indicated that the Kombucha Town name will remain in the near term to retain its existing customer base.

The acquisition also reflects a broader trend in the consumer packaged goods industry, where experienced operators are acquiring distressed but culturally strong brands and integrating them into larger, more disciplined platforms. With Rich Funk’s background at major global companies, the focus is expected to be on improving operational efficiency, strengthening distribution, and building a sustainable growth model.

Overall, the deal positions The Better For You Company to capitalize on rising demand for gut health and functional beverages, while giving Kombucha Town a second life under a more structured and scalable framework.

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Amul Becomes India’s First FMCG Brand to Cross ₹1 Lakh Crore Turnover

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Amul has achieved a historic milestone by becoming the first fast-moving consumer goods brand in India to surpass ₹1 lakh crore in annual turnover, marking a defining moment for the country’s consumer industry. The achievement, confirmed by Gujarat Cooperative Milk Marketing Federation, reflects an 11 percent year-on-year growth in FY26, pushing the brand past its previous ₹90,000 crore base and firmly establishing it as the largest FMCG player in the country by revenue.

What makes this milestone particularly noteworthy is the unique structure behind Amul’s financials. Unlike traditional corporations, Amul operates as a cooperative network, and the ₹1 lakh crore figure represents the total unduplicated brand turnover across all its constituent units. While GCMMF itself reported a turnover of ₹73,450 crore, the remaining value comes from direct sales by multiple district cooperative unions and related businesses such as cattle feed. Together, these elements form the broader Amul ecosystem, highlighting how the brand’s scale is built on a decentralized yet highly integrated model.

The growth has been driven by a combination of deep distribution expansion and a strong push into higher-value product categories. Amul has continued to strengthen its presence in smaller towns and rural markets, ensuring that its wide portfolio of over 1,000 product packs is accessible even in locations with populations as low as 5,000. This extensive reach has allowed the brand to tap into a vast and often underserved consumer base, reinforcing its leadership position in both urban and semi-urban India.

At the same time, the company has successfully shifted its focus beyond liquid milk, which remains its core category, toward value-added dairy products such as cheese, paneer, buttermilk, and yogurt. These segments have seen robust demand growth, driven by changing consumption patterns and rising incomes, and have contributed significantly to overall revenue expansion. In parallel, Amul has been diversifying its portfolio into adjacent categories including organic foods, protein-based products, and probiotics, aligning itself with evolving consumer preferences centered on health and nutrition.

Another key driver of growth has been the brand’s increasing global footprint. In a notable strategic move, Amul has begun offering fresh milk in international markets such as the United States and parts of Europe, transitioning from a traditional export-focused approach to a more localized presence. By targeting the large Indian diaspora and leveraging its brand equity, the company is positioning itself as a global dairy player while maintaining its roots in India.

The scale of Amul’s operations is underpinned by its cooperative model, which remains one of the largest in the world. The network includes over 3.6 million farmer members and handles daily milk procurement of approximately 31 million litres. This structure ensures that value is distributed across the supply chain, from producers to consumers, while also providing stability and resilience to the business. The milestone is therefore not just a corporate achievement but a reflection of the collective effort of millions of farmers who form the backbone of the brand.

Crossing the ₹1 lakh crore mark also signals a broader shift in India’s FMCG landscape. While many large consumer companies have grown through aggressive branding and premium positioning, Amul’s success underscores the enduring importance of trust, affordability, and distribution strength. Its ability to balance scale with value has allowed it to remain relevant across diverse consumer segments, from price-sensitive rural households to urban consumers seeking quality and convenience.

Looking ahead, the focus for Gujarat Cooperative Milk Marketing Federation is expected to shift toward expanding its presence in new international markets, particularly in Africa and Southeast Asia, while also strengthening its position as a “total food company.” The company is likely to invest further in categories such as frozen foods and packaged nutrition, aiming to replicate its dairy success across a broader product spectrum.

Overall, Amul’s entry into the ₹1 trillion club represents more than just a numerical milestone. It highlights the power of a cooperative-led model in scaling a consumer brand, demonstrates the potential of distribution-driven growth in India, and sets a benchmark for the next phase of evolution in the country’s FMCG sector.

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UBS Flags Intensifying Quick Commerce Battle, Cuts Targets but Sees Upside

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Brokerage firm UBS has lowered target prices for Eternal and Swiggy, citing rising competitive pressures in India’s quick commerce space. However, it has retained a “Buy” rating on both stocks, pointing to attractive valuations and long-term growth potential despite near-term headwinds.

Competition Heating Up Across Quick Commerce

UBS highlighted that large horizontal players such as Amazon, Flipkart, and JioMart are now fully committing to quick commerce. These companies are expected to scale aggressively, potentially expanding their dark store networks to 1,200–1,500 locations over the next 12 to 18 months.

This increased participation is likely to intensify competition, putting pressure on growth rates and margins for existing leaders like Blinkit and Instamart. UBS has accordingly reduced its projections for quick commerce performance, cutting Blinkit’s net order value estimates by 7–11 percent and Instamart’s gross order value forecasts by 17–22 percent for FY27–29.

Growth Moderation but Structural Opportunity Intact

Despite the competitive intensity, UBS noted that the situation has not deteriorated further since late 2025. Platforms have already begun adjusting strategies by raising free delivery thresholds and rationalising discounting, which is expected to support margins in the near term.

Growth moderation is being attributed to both seasonality and a deliberate shift by platforms toward balancing profitability with expansion. UBS expects a temporary slowdown in quick commerce growth in early FY27, followed by recovery in the second half of the year as supply-side constraints ease.

At the same time, the brokerage remains constructive on the long-term opportunity, noting that increased competition will likely expand the total addressable market by introducing new categories, use cases, and customer segments.

Food Delivery Remains Stable

UBS maintained that the core food delivery businesses of both companies remain stable. However, it flagged risks from LPG supply constraints and pricing volatility, which could impact restaurant operations and delivery economics in the short term.

Higher delivery costs are also expected, potentially rising by 1.5–2 percent in FY27 due to expanded delivery radii. These costs may be partially offset by recent platform fee increases implemented by both Zomato and Swiggy.

Valuation Reset but Upside Intact

UBS has revised its target prices while maintaining a positive outlook:

  • Eternal: Target price cut to ₹310, implying ~32% upside
  • Swiggy: Target price maintained at ₹390, implying ~42% upside

The brokerage noted that Eternal trades at a premium compared to the broader consumer sector but justifies it through significantly higher projected EBITDA growth. Meanwhile, Swiggy’s valuation is seen as conservative, with much of its quick commerce business not fully reflected in current pricing.

The Bigger Picture

The quick commerce sector is entering a new phase where capital intensity, scale, and execution will define winners. While increased competition may compress margins in the short term, it is also accelerating category development and consumer adoption.

In essence, the market is shifting from a “land grab” phase to a more disciplined growth cycle, where profitability, operational efficiency, and ecosystem strength will become the key differentiators.

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Proda Launches Protein Soda, Blends Functionality with Everyday Consumption

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Proda has officially entered the functional beverage market with a differentiated proposition: a protein-infused soda designed for everyday lifestyle consumption rather than gym-focused use cases. The brand, co-founded by Matthew Postlethwaite and Jeff Church, debuted nationally on April 1, 2026, through an exclusive retail partnership with Sprouts Farmers Market.

A New Format: Protein Meets Soda Culture

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Proda’s core innovation lies in repositioning protein from a fitness-centric supplement to a daily consumption habit. Instead of shakes or powders, the brand delivers protein in a carbonated, soda-like format that fits into routine occasions like meals, work breaks, or casual refreshment.

The formulation is built on clear whey protein isolate, allowing the drink to remain light, transparent, and free from the heavy texture typically associated with protein beverages. Each 12 oz can delivers 10 grams of protein and 3 grams of prebiotic fiber, with zero sugar and approximately 45 calories, targeting consumers who want functional benefits without compromising taste or convenience.

Product Strategy: Clean Label with Mass Appeal

Proda’s nutritional positioning reflects a broader shift toward “better-for-you indulgence”:

  • 10g clear whey protein for daily intake rather than muscle-building extremes
  • 3g prebiotic fiber supporting gut health
  • Zero sugar, zero lactose, and gluten-free formulation
  • Naturally sweetened and caffeine-free, widening its appeal across demographics

This combination allows the brand to compete not just with protein drinks, but also with modern soda alternatives and functional beverages.

Flavor Innovation: Nostalgia as a Growth Lever

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A key differentiator is Proda’s flavor strategy, which leans heavily into nostalgic soda profiles. The launch lineup includes Classic Orange, Shirley Temple, Cherry Lime, Strawberry Lemonade, Lemon Lime, Golden Apple, and Root Beer.

By recreating familiar “soda fountain” experiences, Proda bridges the gap between taste-driven indulgence and functional nutrition, making it easier for consumers to adopt protein as part of their daily routine.

Distribution & Go-To-Market

The brand has opted for a focused launch strategy:

  • Exclusive retail debut at Sprouts Farmers Market
  • Direct-to-consumer availability via its website and digital platforms
  • Expansion through marketplaces like Amazon and TikTok Shop

This omnichannel approach combines premium retail positioning with digital-first discovery, particularly targeting younger, health-conscious consumers.

What This Means for the Category

Proda reflects a larger transformation in the functional beverage space:

  • Protein is moving mainstream: No longer limited to athletes, it is becoming part of everyday nutrition
  • Format innovation is key: Soda-style delivery lowers the barrier to entry for new consumers
  • Taste is non-negotiable: Brands are investing heavily in R&D to eliminate traditional drawbacks like chalkiness
  • Lifestyle positioning is winning: The focus is shifting from performance to convenience and enjoyment

By reframing protein as something that fits seamlessly into daily life, Proda is not just launching a product but attempting to redefine how consumers interact with functional nutrition.

Overall, Proda’s entry signals a new phase where functional beverages compete directly with traditional sodas, offering both enjoyment and nutritional value in a single format.

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Nykaa Eyes Majority Stake in 82°E to Strengthen Beauty Portfolio

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Nykaa is in advanced discussions to acquire a majority stake in 82°E, marking a potential strategic move to deepen its “House of Nykaa” portfolio. The brand, co-founded by Deepika Padukone in 2022, may see its founder retain a minority stake if the transaction is finalised, signaling a shift from founder-led operations to a partnership-driven scale model.

The talks come at a time when 82°E has struggled to achieve financial stability despite strong brand visibility. In FY25, the company reported a 30 percent decline in revenue to ₹14.7 crore, alongside a net loss of ₹12.26 crore. While losses have narrowed compared to the previous year, the brand continues to face challenges in reaching sustainable profitability. Industry observers attribute this to a combination of premium pricing, with products often positioned above ₹2,500, and a relatively unclear differentiation in an increasingly competitive skincare market dominated by agile, mass-premium players.

For Nykaa, the acquisition represents more than just adding a celebrity-backed label. It aligns with its broader strategy of building and scaling a portfolio of high-potential beauty brands through its integrated ecosystem. The company is expected to leverage its extensive distribution network, which includes over 300 physical stores and a large digital consumer base, to drive higher visibility and repeat purchases for 82°E. This is particularly critical as repeat consumption remains a key challenge for emerging D2C beauty brands.

Nykaa’s track record in scaling similar ventures strengthens the rationale behind the move. Its partnership with Kay Beauty, co-founded by Katrina Kaif, has demonstrated the ability to convert celebrity appeal into sustained commercial success. Additionally, its acquisition and scaling of brands like Dot & Key highlight its capability to drive rapid growth through distribution, marketing efficiency, and operational integration.

From a strategic lens, the potential deal reflects a broader consolidation trend within India’s beauty and personal care sector. Celebrity-led brands, which initially relied heavily on founder visibility and digital-first strategies, are increasingly aligning with larger platforms to unlock scale. While star power continues to drive initial consumer interest, long-term success is increasingly dependent on supply chain strength, omnichannel presence, and data-driven marketing—areas where established players like Nykaa have a clear advantage.

If completed, the transaction would further reinforce Nykaa’s positioning as a curator and scaler of premium beauty brands, while providing 82°E with the infrastructure needed to transition from a niche, founder-led label to a more mainstream, growth-oriented business. The outcome of these discussions will be closely watched as it could set a precedent for how other celebrity-founded D2C brands approach scale and sustainability in an evolving market landscape.

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The New Athlete-Founder Playbook: From Endorsements to Equity Ecosystems

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The wellness industry has clearly moved beyond the era of celebrity endorsements, with brands like IM8 and NOBULL redefining how athletes participate in brand building. What was once a model driven by paid promotions has evolved into one centered on ownership, long-term value creation, and subscription-led ecosystems. The shift reflects a deeper change in consumer behavior as well, where audiences are no longer just buying products but buying into lifestyles anchored in longevity, recovery, and everyday performance.

At the forefront of this transformation is IM8, backed by Prenetics, which has rapidly scaled into one of the fastest-growing wellness brands globally. Its strategy revolves around an “all-equity” athlete roster, where high-profile figures like Giannis Antetokounmpo and David Beckham are not just ambassadors but stakeholders. This approach aligns incentives deeply, ensuring that athletes are invested in the brand’s long-term success rather than short-term campaigns. The company’s subscription-first model, built around its all-in-one daily supplement system, has created a strong recurring revenue engine while simplifying consumer choices in a crowded category. Backed by a scientific advisory board that includes experts from fields like space science and longevity research, IM8 positions itself as a premium, credibility-first offering rather than a trend-driven supplement brand.

In parallel, NOBULL represents a different but equally powerful evolution of the athlete-led model. Under the influence of Mike Repole and Tom Brady, the brand has transitioned from a niche CrossFit apparel label into a broader wellness platform. The integration of Brady’s TB12 ecosystem into NOBULL marked a key inflection point, effectively merging training, nutrition, and recovery into a unified offering. With additional equity participation from younger athletes, the brand is building a multi-generational appeal while expanding its identity beyond apparel into a full-stack wellness proposition. The strategy is not just about selling products but about owning the entire consumer journey across fitness, recovery, and lifestyle.

What ties both IM8 and NOBULL together is a fundamental shift in the business model. The old playbook relied on one-time product sales driven by aspirational marketing. The new approach is built on recurring subscriptions, app ecosystems, and integrated product stacks that increase lifetime value. Scientific validation has also become a central pillar, with certifications like NSF for Sport emerging as a trust signal not only for professional athletes but also for everyday consumers seeking transparency and safety.

This evolution reflects a broader repositioning of athletes themselves. They are no longer just performers endorsing products but founders, operators, and strategic partners shaping entire categories. The messaging has shifted accordingly. Instead of encouraging consumers to emulate peak performance moments, these brands now promote sustainable, everyday optimization. The aspiration is no longer limited to winning a game but extends to living longer, healthier, and more efficiently.

Ultimately, the rise of equity-driven athlete ecosystems signals a maturation of the wellness category. As competition intensifies, the brands that succeed will be those that combine credibility, community, and continuity of engagement. In this new landscape, ownership replaces endorsement, and lifestyle replaces performance as the primary value proposition.

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Dunkin’ to Exit India as Jubilant FoodWorks Ends Franchise Agreement After 15 Years

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Jubilant FoodWorks has decided not to renew its franchise agreement with Dunkin’, bringing an end to the brand’s India journey after more than a decade. The current agreement, signed in 2011, is set to expire on December 31, 2026, and the exit will be executed in a phased manner through the end of the year.

The decision reflects persistent challenges faced by Dunkin’ in establishing a sustainable business model in India’s highly competitive quick service restaurant market. Despite its global recognition, the brand struggled to achieve financial viability at scale. In FY25, Dunkin’ India reported a net loss of ₹19.12 crore on revenues of ₹37.24 crore, contributing just 0.61 percent to Jubilant FoodWorks’ overall revenue, highlighting its limited strategic importance within the portfolio.

One of the core issues was positioning. Dunkin’ was unable to successfully build a strong “coffee and doughnut” consumption culture in India. Over time, the brand attempted to pivot toward a broader menu including burgers, wraps, and beverages, but this diluted its core identity without delivering meaningful growth. As a result, it failed to compete effectively with established café chains and emerging quick service formats.

The operational footprint also saw a steady decline. From a peak of around 80 outlets, the network has reduced to just 27 stores as of early 2026, with several underperforming locations shut down in recent months. This contraction reflects ongoing efforts by Jubilant FoodWorks to rationalize the business and limit losses.

Strategically, the exit aligns with Jubilant FoodWorks’ broader focus on scaling higher-performing brands. The company continues to derive the majority of its revenue from Domino’s Pizza, while also investing in the expansion of Popeyes and strengthening its presence in other formats such as Hong’s Kitchen. Redirecting resources toward these growth engines is expected to improve overall profitability and operational efficiency.

Looking ahead, Jubilant FoodWorks is evaluating multiple options for its remaining Dunkin’ outlets. These include closing underperforming stores, transferring assets or franchise rights to a new partner in coordination with Dunkin’s global leadership, or converting select locations into other brands within its portfolio. The final approach will likely depend on commercial viability and potential partnership opportunities.

Unless a new franchisee steps in before the agreement expires, Dunkin’ is expected to fully exit the Indian market by 2027, marking the end of its attempt to build a long-term presence in the country. The development underscores the challenges global food chains can face in adapting to local consumer preferences, particularly in categories where cultural habits and competitive dynamics differ significantly from their home markets.

Overall, the move signals a strategic consolidation by Jubilant FoodWorks, prioritizing scale, profitability, and brand clarity over maintaining underperforming international partnerships in an increasingly competitive QSR landscape.

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Emami Acquires Full Stake in Axiom Ayurveda, Enters Functional Beverage Segment with ₹200 Crore Deal

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Emami Ltd has moved to acquire 100 percent ownership of Axiom Ayurveda, marking a strategic expansion into the fast-growing functional beverages space. The company has signed a definitive agreement to purchase the remaining 73.5 percent stake for a consideration of up to ₹200 crore, transitioning from a minority investor to full owner after initially acquiring a 26.5 percent stake in 2023.

The acquisition brings under Emami’s control the aloe vera-based beverage brand AloFrut, which has emerged as a key growth driver within the health-oriented drinks segment. Axiom Ayurveda reported revenues of around ₹107–₹110 crore in FY25 and is projected to reach approximately ₹180 crore in FY26. Under Emami’s leadership, the brand is targeting a significant scale-up, with ambitions to achieve ₹400–₹500 crore in revenue over the next three years.

Beyond AloFrut, Axiom’s portfolio includes ayurvedic juice products under Axiom Jeevan Ras and herbal personal care offerings such as Mukti Gold, along with newer categories including mocktails and energy drinks. This diversified product mix provides Emami with an entry point into multiple adjacent segments within the broader non-carbonated beverage and wellness market.

To lead this next phase of growth, Emami has appointed Harkirat Bedi as chief executive officer of Axiom Ayurveda. Bedi brings prior experience from Dabur Nepal, where he managed health-focused product portfolios. His mandate will focus on integrating Axiom’s agile, direct-to-consumer capabilities with Emami’s extensive distribution network, enabling rapid scale across both urban and rural markets.

Strategically, the acquisition reflects Emami’s broader shift toward “better-for-you” and wellness-driven categories, as traditional FMCG players increasingly diversify beyond core personal care segments. The company, known for brands such as Boroplus and Zandu, is now entering the large and expanding non-carbonated beverage market, driven by rising consumer demand for functional and health-oriented products.

A key advantage for Axiom lies in its existing profitability and established institutional presence, including distribution across government channels and railways. This provides a stable base for growth while Emami works to expand reach through general trade, modern retail, and potentially quick commerce platforms.

The deal is expected to be completed in phases by June 2026 and represents a calculated move by Emami to combine its scale and distribution strength with Axiom’s product innovation and category positioning. By fully integrating the business, Emami aims to accelerate growth while maintaining financial discipline, positioning itself to capture a larger share of India’s evolving beverage landscape.

Overall, the acquisition underscores a broader industry trend where established FMCG companies are investing in emerging health-focused brands to stay relevant in a market increasingly shaped by wellness, functionality, and changing consumer preferences.

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Licious Reports 47% Revenue Growth in FY26, Targets ₹1,800 Crore with Urban Focus and Infra Expansion

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Licious has reported a strong 47 percent year on year increase in revenue to ₹1,166 crore for FY26, up from ₹795 crore in the previous fiscal, reflecting sustained demand in the organised meat and seafood segment. The company is now targeting ₹1,800 crore in revenue by FY27, driven by a strategy centered on deepening its presence in existing urban markets, strengthening delivery infrastructure, and increasing repeat customer engagement rather than pursuing aggressive geographic expansion.

A key driver of Licious’s performance has been its high customer retention, with repeat orders accounting for approximately 94 percent of total business. The platform currently serves over 1.5 million monthly active users, indicating strong brand loyalty and consistent consumption patterns in its core markets. The company has focused on enhancing service levels within key micro markets across cities such as Bengaluru, Mumbai, and Delhi NCR, where improved delivery timelines and better supply chain integration have contributed significantly to growth. Going forward, Licious plans to expand into 10 additional micro markets within these cities in FY27, further strengthening its density driven approach.

The company’s online segment continues to account for the majority of revenue, growing 28 percent to ₹1,000 crore in FY26 from ₹770 crore in the previous year. At the same time, Licious is gradually scaling its offline presence, operating over 60 retail outlets compared to around 50 outlets in October. This expansion into physical retail is part of a broader omnichannel strategy aimed at increasing brand visibility and providing customers with multiple touchpoints for purchase.

To support its growth ambitions, Licious is also investing heavily in its backend infrastructure. The company plans to significantly expand its network of dark stores, increasing from the current 130 to approximately 400 over the next five years, with around 70 new additions planned in FY27 alone. This expansion is expected to enhance delivery speed, improve service reliability, and enable the company to better serve high demand micro markets.

However, these investments have also led to increased cost pressures in the short term. Licious reported a widening of EBITDA losses to ₹187 crore in FY26, compared to ₹168 crore in FY25, primarily due to higher spending on infrastructure development and offline expansion initiatives. Despite this, the company appears to be prioritizing long term growth and market leadership over immediate profitability, a common approach among consumer internet and quick commerce driven businesses.

The company’s growth strategy reflects a broader shift within the category, where success is increasingly driven by operational efficiency, supply chain strength, and customer retention rather than rapid geographic expansion. By focusing on improving service quality within existing markets, Licious is aiming to build a more sustainable and scalable business model.

Overall, Licious’s FY26 performance highlights strong demand fundamentals in the organised meat delivery space, supported by increasing consumer preference for hygiene, convenience, and quality assurance. With continued investments in infrastructure and a clear focus on urban markets and repeat consumption, the company is positioning itself to achieve its next phase of growth while navigating the balance between scale and profitability.

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Tendercuts Eyes Expansion After Turnaround, Targets 12 New Stores with Fresh Funding

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Tendercuts is preparing for a new phase of expansion after stabilising its business and achieving profitability, marking a turnaround from the operational challenges it faced in 2022. The company, which was acquired by Good to GO in 2023, is now looking to scale its retail footprint by opening 12 new stores this year as part of a measured growth strategy focused on sustainable unit economics and operational efficiency.

Tendercuts had previously gone through a period of financial distress that led to store closures and workforce reductions, as it struggled with cost structures and market dynamics. Over the past year, however, the company has undertaken a comprehensive restructuring exercise, focusing on improving supply chain efficiencies, optimising store level operations, and strengthening overall unit economics. These efforts have enabled the brand to achieve positive EBITDA at both store and consolidated levels, signaling a return to financial stability and disciplined execution.

With a stronger foundation now in place, the company is shifting its focus toward expansion while maintaining a cautious and capital efficient approach. The planned addition of 12 stores is expected to deepen its presence across key markets, allowing it to capture growing demand for organised fresh meat and seafood retail, a segment that continues to benefit from increasing consumer preference for hygiene, quality assurance, and convenience.

To support this expansion, Tendercuts has secured approximately $2 million in debt funding from Lakme Finance. The capital will be deployed toward scaling operations, enhancing infrastructure, and strengthening its market presence in core geographies. Unlike equity funding, the use of debt reflects the company’s improved financial position and confidence in its ability to generate stable cash flows to support growth.

According to co founder and chief executive officer Sasikumar Kallanai, the company’s recent focus has been on building a disciplined operating model with clear visibility on profitability and capital efficiency. With these fundamentals now established, Tendercuts believes it is well positioned to scale in a controlled and sustainable manner, avoiding the pitfalls of aggressive expansion that previously impacted its business.

The broader fresh meat and seafood category in India is witnessing a gradual shift toward organised retail formats, driven by rising consumer awareness around food safety and quality. This trend presents an opportunity for brands like Tendercuts to expand their footprint, particularly in urban markets where demand for reliable and hygienic sourcing continues to grow.

Overall, Tendercuts’ revival and expansion plans highlight a strategic reset, moving from rapid, capital intensive growth to a more balanced model focused on profitability and operational discipline. By leveraging improved financial health and targeted investments, the company is positioning itself to rebuild scale while maintaining long term sustainability in a competitive and evolving market.

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