Luxury Chocolate Company Smoor Planning To Open 100 Outlets Soon

SMOOR describes its offerings as true luxury couverture chocolates which are delightfully crafted by global master chocolatiers using authentic ingredients.

The luxury chocolate company will also introduce a very unique Signature Chocolate Studio in Bengaluru. The luxury chocolate studio would provide chocolate lovers with an amazing experience of witnessing the art of exquisite chocolate making live. Apparently this luxury chocolate studio would be created at a cost of up to INR 12 Cr.

The beautiful and modern 30,000 sq ft facility that SMOOR plans will ensure luxury chocolate manufacturing as per global standards. As per the CEO of Smoor, Vimal Sharma - the great quality of luxury chocolates manufactured here would ensure that it would be supplied nationally as well as exported to the world.

In terms of further expansion, Smoor is planning to expand to the region of West Asia by 2022.

The company, which has been bootstrapped is also planning to scale up from the present 20 outlets to 130 in the next five years. The outlets will include cafes, lounges and kiosks at malls and airports. While the sales of their gourmet chocolates took a beating because of the lockdowns, the e-commerce segment has seen over 390 per cent growth. “We will be launching soon on Amazon, Flipkart, BigBasket and Grofers,” said Sharma. The startup achieved single-digit growth in FY21 and is looking to close FY22 with Rs 100 crore in revenue. The startup competes with brands such as ITC's Fabelle in the premium chocolates segment.

Currently a Rs 3,000 crore opportunity in India, the luxury chocolates market is growing at 32 per cent which is much higher than the 13 per cent growth rate of the overall chocolates segment.

Smoor is betting big on snacking of chocolates for its next phase of growth and will be launching a range of chocolates infused with super foods and energy bars for the health conscious consumers. “There will be a health story associated with chocolates so we are also zeroing in on 70-85 per cent cocoa in our range,” said Sharma.