TenderCuts smells B'luru's taste for meat

TenderCuts smells B'luru's taste for meat
Organised meat retailer and delivery firm TenderCuts has evinced plans to expand beyond its home base of Chennai, focusing on Bengaluru and Hyderabad to open a number of its standalone stores.

The young company currently operates around five stores in Chennai, and plans to grow that figure to 18 stores over the next 24 months.

Explaining the company’s expansion strategy, TenderCuts Chief Executive Officer Nishanth Chandran said, “We are exploring new markets for entry. We intend to open six stores in Hyderabad in the next financial year, while we may open up to 10 in Bengaluru. We are keen on the franchisee-owned, company-operated model.”

It was last year that TenderCuts began its journey with a clear vision of changing the way non-vegetarian fare, especially chicken, mutton and seafood, was procured, processed and consumed by the customer.

The massive Indian meat industry is pegged at Rs 1,40,000 crore, growing at a CAGR of 20%. An unorganised mess, the meat market suffers from an inefficient supply chain, and almost lacks any effective cold storage facilities, with retail predominantly occupied by unhygienic local butcher shops.

In order to counteract this trend, TenderCuts, with its own set of best practices and processes to guarantee quality of its products, came up with a tech-infused omni-channel model involving stores, a call centre, a mobile site, and a website to retail meat.

“In Chennai, we’ve opted for dark stores, wherein we don’t make fancy interiors or other retail components. It’s purely a delivery hub, where the stock is kept before being delivered,” Chandran said.

Today, the company operates in four categories namely chicken, mutton, seafood, and a new space called marinade (marinated and ready-to-cook meat). “We have a complete supply chain from the farm, processing, to delivery. We supply fresh meat cuts on a daily basis and sell only through our own counters and dark stores,” he said.

TenderCuts has tied up with 100 farmers to source chicken and mutton, while for seafood there are 10 fishermen, who are directly connected, apart from 30 vendors across categories.

Chandran has personally invested around Rs 3 crore in the venture, while an angel investor recently invested about Rs 4.5 crore.

“When we started, we sold 500 kg of meat per month, which has hit 20 tonnes now. We’ve been growing 20% month-on-month, and have around 25,000 customers,” he concluded.

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