Right on the heels of its aggressive market expansion to kick-start 2021, Licious, India’s largest fresh meat, meat products and seafood brand, announced the launch of its maiden Employee Stock Ownership Plan (ESOP). Known for its category-first initiatives, Licious ESOP offer will be extended to the blue-collared workforce; setting a new and unique benchmark in the industry.
The programme will benefit over 800 employees across functions including processing centre staff, delivery boys, and corporate employees. This also reiterates the brand’s commitment to providing equitable opportunities of wealth creation for all its employees across functions and recognising them for their hard work and commitment. Options can be exercised over a period of 4 years from the date of grant.
Commenting on their decision, Abhay Hanjura and Vivek Gupta, Co-Founders, Licious, said, “Since our launch in 2015, Licious has grown from strength-to-strength. Be it in terms of category creation, market growth, customer delight, or our funding, has been possible only because of collaborative and consistent efforts. To this extent, we believe each individual and team, have an equally important role to play and therefore, access to the same rewards system. We have always been cognizant and vocal about this within the company and outside. The ESOP announcement is a manifestation of this cornerstone belief and yet another step in building a brand that raises the bar more ways than one.”
“As far as the decision to go live with ESOPs at this stage in Licious’ journey goes, it stems from two factors. While we hit new revenue benchmarks at the peak of the pandemic, we have been able to witness consistent business growth even afterwards. Secondly, we believe that the meat industry itself is going through a metamorphosis with our category disruption. This has sparked rapid-growing investor interest in what was once an unorganized sector and will result in wealth creation opportunities at the business and individual levels,” they added.
Naveen Nerlaje, Head- HR, Licious, stated, “The Indian meat industry is valued at $40 billion. And even at our current run-rate of 1 million orders a month we are just getting started to explore the immense opportunity this market offers. This meat and seafood industry and all the companies operating in this sector has an unprecedented opportunity at their disposal. The valuation of this industry can only adopt an upward trajectory. This presents immense growth potential in terms of ESOP valuation for the employees.”
A category-first brand backed by technology, Licious’ greatest USP has been a superior quality product, which has ensured a consistent repeat order rate of 90 percent since the brand’s 1st year of operations. To ensure a coherent product standard and uncompromised customer service, the company owns and controls the entire supply chain of its 200 plus SKUs. 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.