Curefit on Thursday (October 1) said that its food delivery vertical, Eat.fit will be an independent entity. The Bengaluru-based health and fitness brand said the move was necessitated due to “rising consumer demands.”
With this transition, Eat.fit will have its own management team, funding and continue to sell on Cure.fit.
Cure.Fit’s move to hive off Eat.fit at a time when the cloud kitchens have taken a big hit due to the pandemic. In August, this year Cure.fit had locked down kitchens in over a dozen cities to focus only on Bengaluru, Hyderabad, and Coimbatore. In May and July this year the company had laid off, furloughed 1000 and 600 employees respectively.
Speaking to Inc42 earlier, cofounder Ankit Nagori said, “Two to three days after the lockdown, Eat.fit’s order volumes fell by 80%. Since then, it has been a very uphill fight. Supply chain disruptions were not the biggest reason for this fall, I think the overall sentiment around ordering in has gone down in the country.”
Commenting on the transition, Mukesh Bansal, Cure.fit founder said, “Making Eat.fit a separate entity will allow us to dedicate more time and resources in an efficient manner to make the business grow and deliver value to our consumers, and we hope that doing so can help us deepen our impact in the cloud kitchens and food delivery category in India.”
Food Delivery Biz Sees Slow Recovery
Recently, Zomato’s Mid-Covid report for September 2020 revealed that the industry, as a whole, has recovered 85% of its pre-Covid GMV (gross merchandise value), up from 75% last month. The foodtech unicorn also claimed that its recovery was complete in some of the more affluent residential neighbourhoods in Delhi and Mumbai.
The post Cure.fit’s Cloud Kitchen Biz Eat.fit Now A Separate Entity appeared first on Inc42 Media.
Author: Shubham Singh
Source : https://inc42.com/buzz/cure-fits-cloud-kitchen-biz-eat-fit-now-a-separate-entity/
Date : 2020-10-01T14:42:56.000Z