Rebel Foods acquires majority stake in Luxury chocolate brand SMOOR

World’s largest internet restaurant company Rebel Foods has invested in the luxury chocolate brand, SMOOR.

This is in line with Rebel Foods' recent announcement of investing USD 150 million over the coming years, as part of its focus on investing and acquiring promising brands to serve more food categories from its cloud kitchens. 

With this investment, SMOOR aims to grow by 3x in the year 2022-23.

“We are excited about adding SMOOR to our catalogue of brands with its leadership in high-quality chocolates and desserts offerings. This investment gives us further confidence that we have been able to consistently choose outstanding brands,” shared Raghav Joshi, Co-founder, Rebel Foods.

SMOOR has single-handedly conceptualized and developed coverture chocolates and finely-crafted desserts in the country, with an above industry average CAGR of +40% over the last 5 years, indicating its domain leadership.

The SMOOR brand has grown over 120% since last year and is looking to achieve a scale of $100mn annual revenue by 2026, by expanding its presence in India and globally.  

It is also planning to build its omnichannel distribution strategy by expanding its physical customer experience centres across Tier 1 cities in India and accelerating its online presence across digital platforms.

The future expansion will also include strengthening its physical presence in 9 cities (Mumbai, Pune, Hyderabad, Chennai, Bangalore, New Delhi, Gurgaon, Noida, Faridabad) and a fast-growing omnichannel presence.

“The Indian chocolate market is growing at a breakneck pace, and we are proud to state the SMOOR is further spreading its wings in tandem with the industry. Having created & leading the couverture chocolate category in India, and introducing Indian dessert lovers to lavish indulgences with premium chocolates, cakes, macarons, and more, we are now thrilled to take the next step,” added Vimal Sharma, CEO, SMOOR.

With Rebel Foods’ investment, the brand is set to make deeper inroads into the global market, introducing new and exciting confectionaries in multiple, accessible formats. We look forward to the growth that will unfold on the back of this development.” 

Rebel Foods Thrasio-style portfolio, termed Rebel Launcher, aims to add 40 to 50 food categories, prioritising missions like premium North Indian, South Indian, Indian Sweets, Sandwiches, amongst others in the coming year.

Rebel also plans in the mid-to-long run to take all its Rebel Launcher brands globally across India, Indonesia, United Arab Emirates (Dubai, Abu Dhabi, Sharjah), the United Kingdom, Singapore, Malaysia, Thailand, Hong Kong, Philippines, and Bangladesh, with its 10-country footprint.