Keventers on expansion drive; targets system turnover of Rs 700 crore by 2025-26

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Milkshake major, Keventers is embarking on an expansion drive, including scaling up its ice cream business and adding new products as it targets a system turnover of Rs 700 crore by 2025-26, according to a senior company official.

The vintage brand was revived in 2015 by three individuals Agastya Dalmia, Aman Arora and Sohrab Sitaram, having undergone changes in ownership in its history since it was founded in 1925 by Edward Keventer.

It has also earmarked capital expenditure of Rs 200 crore over the next 5 years. The company has also partnered with sports nutrition brand Myprotein to create a ‘Whey Protein in Keventers Coffee Flavour’ to offer protein-rich coffee alternatives thus providing consumers the option to add a scoop of the whey protein to their smoothie or shake.

“In terms of growth plans, besides extensively growing the count of our current outlets, there will also be a significant push towards developing and scaling our “Ice Creamery” brand that will operate as a sister brand for the parent company,” Keventers Co-Founder, Director and CMO Aman Arora told PTI.

He further said, ice cream has been the number one focus area for the company for the past five or six years.

At present the company has around 200 stores and plans to open another 40 in the next 4-6 months. When asked about the growth outlook of the brand, he said this year Keventers is looking at close to Rs 100 crore in system turnover, which includes the company’s franchise.

“Our forecast is approximately Rs 700 crore in system turnover by 2025-26 and approximately Rs 550 crore in company turnover,” Arora said.

Elaborating on how the brand is looking to chart its future growth journey, he said since taking it over in 2015 the new management has been focussing on re-establishing and re-innovating Keventer with a push for increasing footprint across the country and outside.

“We are now looking at newer markets such as the D2C market which is direct to consumers on delivering through our website and aggregators like Swiggy and Zomato,” he said.

Additionally, Arora said cloud kitchens will continue to play a major role in Keventers’ new journey.

“We have already opened over 20 such kitchens and the model is such that it is easy to scale. D2C will also play a key role as we push forward and introduce newer product segments and foray into pre-packaged FMCG products,” he added.

Expanding these products to other channels such as modern trade, general trade and institutional sales will be another logical extension, he said adding,”In terms of geographical expansion, foraying into key international markets is another key long-term strategy.”

At present, Keventers has brand presence across India, Nepal, the UAE, Oman and Kenya. When asked about investments, he said around Rs 200 crore in capital expense has been earmarked over the next 5 years, coupled with another Rs 50 crore on brand and channel extensions.

On the partnership with Myprotein, Arora said the aim is to reach out to an evolving consumer, who is not keen to sacrifice taste for healthier options and the special combination is a new addition to Keventers’ menu and brings a part of a global shift to healthier alternatives for consumers.

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