The company has clocked a CAGR of 44% since its inception
It is targeting a turnover of INR 400 crore by 2026 at a CAGR of 60%
SMOOR, leading Bangalore-based luxury chocolate brand that crafts the ultimate indulgence experience with couverture chocolates, is celebrating its 5th anniversary in August 2021. The company, that has single-handedly conceptualized and developed coverture chocolates and finely-crafted desserts in the country, is crossing this landmark with an above industry average CAGR of 44% over the last 5 years, indicating its domain leadership.
Sustaining this momentum, the 5-year-strong brand has now unveiled plans to achieve a turnover of INR 400 crore by 2026, growing at a CAGR of 60%. Furthermore, from its current 20 stores, the brand will expand to 200 stores across the country by the same time. Future expansion will also be championed by its fast-growing omnichannel presence with a focus on D2C websites to unlock greater geographical reach.
There have been several driving factors to SMOORs remarkable growth journey with strong innovation and expansion in its product portfolio being the key. Apart from its vast retail and online presence, SMOOR has launched exclusive portals to harness the potential of its most-loved offerings. After a strong response to its D2C website smoor.in, the brand will this month also launch a new e-store exclusively for its macarons range, www.truemacaron.com, which offers a range of 21 unique flavours in macarons, includuing a first of its kind range of eggless macarons to introduce more Indians to this delicate and delightful confectionary.
Speaking on the milestone, Vimal Sharma, Founder-Director & CEO, SMOOR, said, “SMOOR’s initial years of operations comprised a great degree of consumer education to bring alive the difference between regular chocolates and coverture chocolates. Its heartening to see that, now, the market has come of age. Consumer lifestyles have transformed and premium experiences are highly sought – we fit into this market perfectly! We are grateful for other players who entered and expanded the market along with us, and for the love that our customers have showered on us. We complete our 5th year with great excitement for the future, which is brighter than ever before.”
SMOOR, which operates signature stores at airports, malls and high streets etc, saw 30% of its stores become unviable during the COVID-19-induce lockdown. During this time, the brand displayed agility to pivot to digital and omnichannel models – a testament to the brand’s tenacity and preparedness-registering a higher rate of growth than pre-pandemic times. During this time, eyeing the need of the hour, the company also launched SMOOR Wellness Barks, imbibed with immunity-boosting herbs like Tulsi, Ashwagandha, Amla, and Giloy.
SMOOR attributes a huge chunk of its growth to the customer acceptance and love for its products and aims to continue innovating and offering impeccable quality to retain its leadership position.
SMOOR’s finely crafted products and exquisite packaging complements and reflects the exclusivity and finest experience. Smoor offers customised hampers with wide array of chocolates and desserts that are carefully curated to ensure an ultimate indulgence.
SMOOR’s Signature stores are present in Bengaluru, Mumbai, and Gurgaon. Its products are available on www.smoor.in and can also be bought from online platforms such as Swiggy, Zomato, Dunzo, BigBasket, Amazon, Flipkart.
A brand that crafts the ultimate indulgence experiences with coverture chocolates, Smoor was created by Vimal Sharma in March 2015. The luxury chocolate brand opened its first flagship store in August 2016 in Bangalore to create a new benchmark for ‘Imagined in India’ finely crafted foods.
Smoor brings together authentic ingredients, passionate people, and a premium range of products, including chocolates, signature cakes, gift hampers, desserts, beverages, and much more. The brand has evolved with changing consumer palettes and delivers a truly exceptional, international experience for every individual who seeks lavish indulgence. The brand also creates a range of special products and gift hampers for occasions such as Diwali, Christmas, and Valentine’s Day.
Smoor’s high-quality products are unique and crafted by some of the finest chocolatiers and chefs from across the globe. Its fine ingredients are sourced from the most sought-after locales in the world, and products are created at a state-of-the-art factory.
Connoisseurs of coverture chocolates can find Smoor not only at its Signature lounges and stores but also on its website www.smoor.in. The brand is also present on platforms such as Swiggy, Zomato, Dunzo, BigBasket, Amazon, Flipkart, and many other such avenues. Its signature stores are located in Bengaluru, Mumbai, and Gurgaon, and it is also available at over top 50 cities of India through the aggregator and marketplace platforms.