Licious, tech-first full-stacked D2C fresh meat and seafood brand, has opened its maiden Employee Stock Ownership Plan (ESOP) monetization option for its employees. With this buyback event, Licious sets yet another unique benchmark in the industry. For the first time ever, the blue-collared workforce along with other eligible employees will be able to monetize their ESOPs.
The buyback option worth Rs 30 crore is set to benefit close to 600 employees, providing meaningful and real-time wealth creation opportunities.
Speaking about this development, Abhay Hanjura, and Vivek Gupta, Co-Founders, Licious, said, "Over the last 6 years, Licious has been responsible for resurrecting the animal protein category and creating one of the most inspirational brands of our times. This journey would never have been possible without the dedication, support & expertise of the team. Licians (employees) are a force to reckon with! They have stood against all odds to create India’s largest D2C food brand."
"We have always believed in providing employees collective ownership of the organization's destiny. All our policies reflect that. The ESOP program enables this core belief. Earlier this year, we issued grants to more than 1,100 employees, recognizing their contribution to the company. And now it is time for us to enable the monetization process. It brings us immense pride as this is one of the largest coverages as compared to the current industry practices. We will continue to celebrate our fellow Licians as we move ahead in this journey," they added.
Launched in 2015, Licious has been steadily disrupting the animal protein industry in India. Over the last financial years, the company has registered a 500 percent growth, with an average monthly order volume of two million. This farm-to-fork business model had made Licious the only meat and seafood brand from India to be certified with FSSC22000, one of the highest food safety certifications in the world.