Choko La eyes bigger footprint for business across the country
livemint.comairport business. It is also looking to expand beyond the national capital, but initially plans to open cloud kitchens, focusing on a fresh foods offering, comprising chocolates, chocolate drinks, cakes and confectionary. It had two cloud kitchens in FY21 and has since expanded to 15.
By the end of FY24 it is looking to take the count to 25 in the NCR with 80% owned outlets. “Before covid, 95% of our revenue was from our own stores, while just 5% was from e-commerce and other sources. Now, 15% of the business comes from travel retail due to a resurgence in travel demand and higher traffic at airports.
E-commerce business, too, has grown over 4x, which was just a few percentage points for us earlier," said Mahajan. Last year, the company started operations in the US, and entered the UK this year. It has tied up with Amazon Global to serve the markets and is in discussions with Whole Foods Market, Selfridges and Harrods in the US.
It seeks to launch in Singapore by FY24-end, and subsequently by FY25 in France and Germany. In India, Choko La average ticket size or customer spending is at ₹1,000-1,200 per person compared with ₹100 in the generic FMCG category. Cosmic Kitchen Pvt.
Ltd, the parent, began operations in 2005, and is expecting to post operating revenues of ₹35 crore. In FY23, it achieved its pre-covid numbers and expects to grow close to 60% over last year this financial year. Within the luxury chocolate space, very few players operate.
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