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SMOOR has reached $50 million valuation with this acquisition
Mumbai-based Rebel Foods has invested an undisclosed amount in acquiring a majority stake in luxury chocolate brand Smoor. The investment is in line with the company’s plans to invest $150 million across food brands as it scales its portfolio of food services brands in India. The investment values Smoor at over $50 million.
Smoor, set up in 2015, sells chocolates, signature cakes, gift hampers, desserts, and beverages. Its products are available across its stores, cafes, and kiosks, apart from the brand’s direct-to-consumer channel and online aggregator platforms.
According to Rebel Foods, Smoor will continue to build its omnichannel distribution strategy by expanding its physical customer experience centres across tier-1 cities in India and accelerating its online presence across digital platforms. The future expansion will also include strengthening its physical presence in 9 cities (Mumbai, Pune, Hyderabad, Chennai, Bangalore, New Delhi, Gurgaon, Noida, Faridabad) and a fast-growing omnichannel presence.