iD Fresh, the ready-to-cook packaged food company intends to invest Rs 100 crore over the next two years to increase its manufacturing capacity by opening new operations in Chennai, Andhra Pradesh, Kolkata, and Saudi Arabia, ETRetail reported.
Presently, iD fresh runs over 80,000 square feet of manufacturing space across Bangalore, Mumbai, Hyderabad, Delhi, and Dubai.
With a presence in seven categories, the brand intends to expand into more recently launched categories and those with longer shelf lives.
It has 10 SKUs available right now, and by the end of this fiscal year, it wants to add 15 more.In the first year of business, the brand intends to devote 60% of its sales in the spices sector to marketing and distribution.
“For spices, by the end of the FY, we aim to reach around 50,000 outlets, and in two and a half years, we plan to double this distribution network,” PC Musthafa, global CEO, iD Fresh told ETRetail.
By the conclusion of this fiscal year, The brand, which is currently present in 60,000 stores, hopes to have expanded to 75,000 locations.
Currently, 35 per cent of the revenue of the brand comes from e-commerce and quick commerce, and the remaining 65 per cent is contributed by GT and MT.
The business hopes to announce its initial public offering (IPO) and reach the Rs 1,000 crore revenue level by 2027.
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