Food delivery platform Swiggy has shut its cloud kitchen brand The Bowl Company in Delhi-NCR as the service did not perform as expected in the region. Swiggy operates brands such as Breakfast Express and Homely.
The company’s spokesperson added, “The expansion of The Bowl Company in Delhi/ NCR was an experiment we ran to bring new food experiences to users. This experiment has led to its due learnings, even as we focus on operational excellence for the brand. We will continue to invest and grow The Bowl Company in cities like Bangalore, Chennai, and Hyderabad where the brand is well-loved and growing.”
The foodtech platform launched The Bowl Company in Bengaluru in 2017. It expanded to Chennai, Hyderabad and Delhi subsequently. The development also comes at a time when Swiggy’s operating revenue continues to flounder.
According to Prosus’ earnings report, the food delivery business grew 38 percent and gross merchandise value (GMV) 40 percent during the first six months of the year. As per the report, the GMV of food delivery was $1.3 billion, and quick commerce was $257 million. Prosus said that its share of Swiggy’s revenue grew by 72 percent to $150 million, reflecting higher average order values and increased revenue from delivery fees and ad sales.
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