Licious has lately introduced its industry-first initiative furthering its commitment towards offering a differentiated people experience. Starting 1st Jan 2022, all eligible Licians (employees at Licious) will have their ESOPs vested daily.
According to the company’s official statement, the employees will also have the option of anytime liquidation of ESOPs; no terms and conditions being associated with the liquidation. This opportunity can be availed once in the one year, as mandated by company law, is over. The company will set aside a pool of secondary funds every year, to enable the anytime liquidation.
Licious’ ESOP Plan
The ‘Everyday Vesting, Anytime Liquidation’ ESOP plan will benefit over 1000 Licians who currently own ESOPs and are well appreciated for their contribution as well as faith demonstrated in the company. Furthermore, all new Licians who receive ESOPs will be added to the pool. All employees will be actively guided about this opportunity so that they can take complete advantage of this novel initiative.
“At Licious, we have been recording unprecedented growth and that too in a highly unorganized market. Our employees’ contribution in this growth trajectory has been enormous and incentivizing them well is among our priorities. We are conscious of helping Licians meet their personal and financial goals through wealth creation as we organize the market, and making vesting and buying ESOPs daily, signifies the same,” Vivek Gupta and Abhay Hanjura, Co-Founders at Licious, stated.
Rendering Opportunities to Employees
Licious claims to have the most inclusive ESOPs programme in India that benefits employees across functions including processing center staff, delivery boys, and corporate employees. Earlier this year, the company also extended a buyback option worth INR 30 crore which provided meaningful and real-time wealth creation opportunities for the employees.
“This new initiative will not only build complete transparency but give Licians 100 percent control over their vested ESOPs. It is an unprecedented initiative – the kind of wealth creation opportunity for employees that India has not seen before. The value that Licious creates for the employees and customers will be reflected in our valuation. We are dedicated to seeing both those things grow!” Gupta and Hanjura added.
The brand stated that its USP has been a superior quality product, which has ensured a consistent repeat order rate of 90 percent. To ensure a coherent product standard and uncompromised customer service, the company asserts to own and control the entire supply chain of its 300 plus SKUs.