Pluckk Triumphs in Health Revolution with 100% Acquisition of Upnourish to Dominate Nutrition Market | Exciting Company News
Pluckk Acquires Upnourish to Expand Nutrition-Focused Offerings
Fresh food delivery platform Pluckk has acquired a 100% stake in nutrition and wellness brand Upnourish for $1.4 million. This acquisition aligns with Pluckk’s strategy to include nutrition-focused products in its portfolio, responding to the growing consumer demand for health-centric offerings in the quick commerce and grocery delivery sectors.
Pratik Gupta, Co-Founder and CEO of Pluckk, explained, "We understood that our customers are looking for quality as well as lifestyle enhancement.” The synergy between Pluckk’s infrastructure for sourcing fresh farm produce and Upnourish’s expertise in plant-based supplements and meal replacements is expected to broaden the company’s product range significantly.
Pluckk’s sales are diversified across several channels: 10-20% from direct sales, 40-50% from quick commerce platforms, 20-30% from e-commerce, and 10-15% from offline retail. Gupta highlighted the company’s growth, noting, “Last month, we moved 1.5 million products across four cities. Over the past year, our volume has quadrupled.”
A July PwC survey indicates that over 60% of consumers, especially millennials, plan to increase their consumption of fresh fruits and vegetables. Additionally, another report reveals that nearly 63% of global consumers are shifting to direct-to-consumer platforms, with 65% of Indian consumers now buying directly from brand websites, predominantly purchasing food and beverages.
After achieving an annual recurring revenue (ARR) of Rs 100 crore, Pluckk aims to double this figure in the upcoming year through geographic expansion and deeper market penetration.
First Published: Sep 28, 2024 | 7:06 PM IST
Original Story https://www.business-standard.com/companies/news/ruia-family-backed-pluckk-buys-upnourish-to-enter-nutrition-market-124092800672_1.html
Category :
Tags:
