Pluckk buys 100% stake in wellness brand Upnourish to tap nutrition market | Company News
Pluckk | Source: X (@OfficialPluckk)
Pluckk, a fresh food delivery platform, has acquired a 100 per cent stake in Upnourish, a nutrition and wellness brand that sells plant-based supplements and meal replacement products. The $1.4 million deal is part of Pluckk’s strategy to add nutrition-focused offerings to its portfolio, with growing consumer demand for health-centric products in the quick commerce and grocery delivery sectors.
“We understood that our customers are looking for not just quality but also their lifestyle as a whole,” said Pratik Gupta, Co-Founder, CEO, Pluckk. “So, to cater to this we understood that our product needs to have a nutrition element.”
The synergy between the two lies in their shared customer base and focus on health products. Pluckk’s existing infrastructure for sourcing fresh produce from farms, combined with Upnourish’s expertise in nutrition, allows the company to enhance its product range with plant-based proteins, vegan options, and meal replacements.
Pluckk’s sales are divided across several channels, with 10-20 per cent coming from direct sales, 40-50 per cent from quick commerce platforms, 20-30 per cent from e-commerce, and 10-15 per cent through offline retail. “Last month we did about 1.5 million products in these four cities and across channels. in the last 12-15 months it has become 4x of what it used to be, same time last year,” said Gupta.
A July Pwc survey shows that over 60 per cent of consumers, especially millennials, plan to increase their fresh fruit and vegetable consumption in the next six months. Separately, another report highlights that nearly 63 per cent of global consumers, primarily millennials, are shifting to direct-to-consumer (D2C) platforms. In India, 65 per cent of consumers now buy directly from brands’ websites, with food and beverage products accounting for 38 per cent of these purchases.
Having recently achieved an annual recurring revenue (ARR) of Rs 100 crore, the company plans to double this figure in the coming year through geographic expansion and deeper market penetration.
First Published: Sep 28 2024 | 7:06 PM IST
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