The move marks Swiggy’s formal exit from its private label business, days after it announced the expansion of its quick food delivery service Snacc to more than 500 cities.
Online food and grocery aggregator Swiggy entered into an agreement with food service platform Kouzina for the exclusive license of its digital-first food brands: The Bowl Company (TBC), Homely, Soul Rasa, and Istah, according to an exchange filing on Tuesday.
The move marks Swiggy’s formal exit from its private label business, days after it announced the expansion of its quick food delivery service Snacc to more than 500 cities.
“Swiggy’s food brands-including The Bowl Company, Homely, and others were launched to address gaps in restaurant supply and meet the demand for variety and convenience in food delivery. These brands have filled key market whitespaces and inspired restaurant partners to innovate, ultimately benefiting consumers. With its expansive digital-first F&B platform and asset-light business model, Kouzina is well-positioned to scale these brands to new heights,” said Swiggy’s Vice President Arpit Mathur in the filing.
Swiggy’s parcel delivery service, Genie has also been stopped with the removal of its option from its app. Its peer Zomato also recently announced the shutdown of its quick food delivery service ‘Quick’.
