Licious, India’s leading fresh meat, meat products and seafood brand announced the launch of its maiden Employee Stock Ownership Plan (ESOP). Known for its category-first initiatives, the Licious ESOP offer will be extended to the blue-collared workforce; setting a new and unique benchmark in the industry.
The programme will benefit over 800 employees across functions including processing centre staff, delivery boys, and corporate employees. This also reiterates the brand’s commitment to providing equitable opportunities for wealth creation for all its employees across functions and recognising them for their hard work and commitment. Options can be exercised over a period of 4 years from the date of grant.
Commenting on the decision, Abhay Hanjura and Vivek Gupta, co-founders, Licious said, “Since our launch in 2015, Licious has grown from strength-to-strength. Be it in terms of category creation, market growth, customer delight, or our funding, has been possible only because of collaborative and consistent efforts. To this extent, we believe each individual and team, have an equally important role to play and therefore, access to the same rewards system. We have always been cognizant and vocal about this within the company and outside. The ESOP announcement is a manifestation of this cornerstone belief and yet another step in building a brand that raises the bar more ways than one.”
“As far as the decision to go live with ESOPs at this stage in Licious’ journey goes, it stems from two factors. While we hit new revenue benchmarks at the peak of the pandemic, we have been able to witness consistent business growth even afterward. Secondly, we believe that the meat industry itself is going through a metamorphosis with our category disruption. This has sparked rapid-growing investor interest in what was once an unorganised sector and will result in wealth creation opportunities at the business and individual levels.”