Mumbai, May 07th, 2024: LANDCRAFT Retail by serial entrepreneurs Lalit Jhawar and Mayank Gupta announces an undisclosed funding round from prominent figures like supermodels Ujjwala Raut, Vartika Singh, designer Payal Singhal, digital creator & mom blogger Simone Khambatta and luxury fashion house, Purple Style Labs among other high net worth individual angel investors.
Crafted to delight food enthusiasts, Landcraft Retail debuts its inaugural store in Bandra West, envisioned as a haven for culinary aficionados. Spanning 25,000 square feet across four floors, Food Square aspires to become the ultimate destination for gourmet connoisseurs. Featuring an in-house bakery, an exclusive truffle section, an extensive selection of over 350 cheese varieties, and a café, Food Square offers an array of experiences including a spice mill, a salad bar, and a specialty pet store. With a focus on offline retail, Food Square endeavors to deliver a world-class shopping experience.
Commenting on her investment, Ujjwala Raut says, “Food Square epitomizes culinary excellence at par with global standards, offering an unparalleled shopping experience reminiscent of the finest establishments in the UK or US. From its diverse array of offerings to its impeccable availability, every facet of this unique store exudes sophistication. It’s a gem in its own right, and I see tremendous merit in its vision.”
Speaking about how the newly infused funds will be used towards this end, Lalit Jhawar & Mayank Gupta, Co-founders, Landcraft Retail, said, “Landcraft Retail is an extension of our farming business, Trueganic by Landcraft Agro. Through Trueganic, we’ve supplied fresh vegetables and fruits to over 200 supermarkets and gourmet stores across West and South India. Expanding into retail was a natural progression for us. With our sights set on amassing more than 200,000 customers, we aim to reach an annual revenue milestone of 300 Crores in the next three years and add over 20,000 SKUs across the store. This is just the beginning, and we remain committed to bringing global food experiences to India. These investments underscore our dedication to advancing and excelling in the retail landscape.”
Commenting on the potential of Food Square as a brand, Abhishek Agarwal, founder of Purple Style Labs remarked, “We have always believed in the luxury growth story of Indian consumers over the next 2-3 decades and have proven the same by scaling Pernia’s Pop-Up Shop by 100x in the last 6 years. Combining the untapped potential of gourmet offerings in luxury retail and the founding team’s expertise of bringing global food experiences to India, we are confident that Food Square will soar to great heights. With our investment, we aspire to leverage our experience to support Food Square and play a pivotal role in establishing the brand as the premier luxury gourmet shopping destination across India.”
After successfully serving over 30,000 customers in the first quarter since its launch, Food Square is poised to continue growing from strength to strength. With plans to gradually expand its presence in Mumbai and beyond, the brand is committed to extending its reach and enhancing its offerings.
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