Cross Border Kitchens registers INR 3.33 crore in revenue in FY19; plans to expand to 5 kitchen locations with 13 unique brands by the end of Q2 2020
- 14% revenue growth from Q4 2019 to Q1 2020
- Projected Revenue Run Rate for FY 20 – INR 14.5 crore
- Burn rate reduced by 62% from Q4 FY 2019 to Q1 FY 2020
Cross Border Kitchens (CBK) – a multi-brand, multi-vertical food-tech company, has registered INR 3.33 crore in revenue in FY19. The company has also witnessed a 12% hike in cart value and recorded a 20-25% increase in order conversions during the lockdown. Currently, CBK fulfills 10 – 12 thousand orders every month and plans to expand to 5 kitchen locations operating 13 unique brands by the end of Q2 2020.
Launched in early 2019, CBK manages 9 exceptional food delivery brands across multiple cuisines including Indian, Western, Pan-Asian, and Specialty. The company has an additional 4 brands scheduled for launch in July. CBK currently operates 3 kitchens in the Delhi-NCR region and has 2 additional kitchens in the fit-out phase. Customers can access CBK’s offerings through each of its brand websites, apps, over the phone, and through aggregator partners – Zomato & Swiggy. Safety and hygiene have been a core value for the Delhi-based start-up and the company continues to enforce all safety guidelines including regular sanitization, daily temperature checks, and contactless delivery to ensure the well-being and health of its customers and employees.
On cloud kitchens and the company’s future Mayank Singh Negi, Co-founder, Cross Border Kitchens said, “There has been heightened interest in the cloud kitchen model as COVID has significantly altered consumer behavior. At CBK we have championed the multi-brand, multi-vertical model from the outset and are utilizing technology, culinary art, marketing, and operational excellence to deliver a memorable gourmet experience. Our model enables us to be CAPEX efficient, scale fast, and significantly reduce overhead rate. Our overhead rate has dropped from INR 709 an hour in Q1 2019 to INR 106 an hour in Q2 2020, demonstrating the efficiency of our model. We served over 100,000 orders in FY 2019 and are projecting 500,000+ orders in FY 2020.”
In the next 18 months, CBK plans to have a multi-city presence while also expanding its brand portfolio to 22 unique brands. The company hopes to create 2000 to 2500 employment opportunities at that time.
About Cross Border Kitchens
Cross Border Kitchens (CBK) is a multi-brand, multi-vertical food-tech company. Launched in early 2019, CBK operates 3 kitchens in Delhi-NCR and manages 9 exceptional food delivery brands across multiple cuisines. CBK utilizes technology, culinary art, marketing, and operational excellence to deliver a memorable gourmet experience. CBK’s brands are deeply integrated with all aggregators including Zomato and Swiggy and provide customers with a wide variety of choices across price & cuisine spectrums.