CONNECT WITH US
eCommerce

eCommerce

Manam Chocolate scales its farm-to-store play, targets Rs 100 crore revenue and 18 outlets

ET Retail – Ecommerce logo

Published on

Add as a preferred source on Google
Manam Chocolate scales its farm-to-store play, targets Rs 100 crore revenue and 18 outlets

Manam Chocolate scales its farm-to-store play, targets Rs 100 crore revenue and 18 outlets

Manam Chocolate is targeting a revenue of over Rs 100 crore in the current financial year. The company plans to expand its experiential retail network across major metros in India. It expects to open around 18 stores, including 13 experience stores, by the end of the next financial year. Manam operates a cacao-to-consumer business and aims to grow its online revenue channels.

Manam Chocolate is targeting revenue of over Rs 100 crore in the current financial year, nearly doubling the Rs 53 crore reported last year, as it expands its experiential retail network across major metros. The brand has so far raised a cumulative investment of $17 million from its founders and external investors. “We ourselves invested about $5 million of our money. We've done two rounds so far. We raised about $3 million in the first round and recently raised about $9 million from a venture capital firm,” said Chaitanya Muppala , founder, Manam Chocolate, in an interaction with ETRetail. The Hyderabad-based company plans to enter Mumbai and Bengaluru as part of a broader expansion into all major metros over the next 24 months. It expects to have around 18 stores across formats by the end of the next financial year, including approximately 13 experience stores, Muppala said. Advt

“We've always envisioned this to be a pan-India business,” he said, adding that the company is rolling out one city at a time, using larger experience stores to establish the brand before expanding through smaller formats.


Source link
Related Topics:eCommerce

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.