This new initiative will not only build complete transparency but give Licians 100% control over their vested ESOPs
Licious, India’s 1st D2C Unicorn introduced yet another industry-first initiative, furthering its commitment towards offering a differentiated people experience and being a great place to work. Starting 1st Jan 2022, all eligible Licians (employees at Licious) will have their ESOPs vested daily. They will also have the option of anytime liquidation of ESOPs; no terms & conditions being associated with the liquidation. This opportunity can be availed once the one-year period, as mandated by company law, is over. The company will set aside a pool of secondary funds every year, to enable the anytime liquidation.
The “Everyday Vesting, Anytime Liquidation” ESOP plan will benefit over 1000 Licians who currently own ESOPs and are well appreciated for their contribution and faith demonstrated in the company. Furthermore, all new Licians who receive ESOPs will be added to the pool. All Licians will be actively guided about this opportunity so that they can take complete advantage of this novel initiative.
Says Vivek Gupta & Abhay Hanjura, Co-Founders, Licious, “The pandemic has taught us many lessons, and one among those is to keep your people closest to the organization and reward them for their hard work and contribution. At Licious, we have been recording unprecedented growth and that too in a highly unorganized market. Our employees’ contribution in this growth trajectory has been enormous and incentivizing them well is among our priorities. We are conscious of helping Licians meet their personal and financial goals through wealth creation as we organize the market, and making vesting and buying ESOPs daily, signifies the same.
This new initiative will not only build complete transparency but give Licians 100% control over their vested ESOPs. It is an unprecedented initiative – the kind of wealth creation opportunity for employees that India hasn’t seen before. The value that Licious creates for the employees & customers will be reflected in our valuation. We are dedicated to seeing both those things grow!”
Licious has the most inclusive ESOPs programme in India, that benefits employees across functions including processing centre staff, delivery boys, and corporate employees. Earlier this year, the company also extended a buyback option worth INR 30 crore which provided meaningful and real time wealth creation opportunities for the employees.
A category-first brand backed by technology, Licious’ greatest USP has been superior quality product, which has ensured a consistent repeat order rate of 90% since the brand’s 1st year of operations. To ensure a coherent product standard and uncompromised customer service, the company owns and controls the entire supply chain of its 300 plus SKUs. This farm-to-fork business model had made Licious the only meat and seafood brand from India to be certified with FSSC22000, one of the highest food safety certifications in the world.
Source: Business World