Samreen Ahmad · · 1 min readExclusive: Rebel Foods-owned 🍫 brand to invest up to $10m in Southeast Asia
Rebel Foods-owned luxury chocolate brand Smoor is looking to invest between US$5 million and US$10 million to expand into Southeast Asia, including markets in Indonesia, Thailand, and Singapore.
Photo credit: Smoor
Smoor is looking to enter the region within the next 18 months. Overall, it will invest US$25 million in its international expansion efforts, which include Australia.
Cloud kitchen unicorn Rebel Foods acquired majority stake in Smoor in April this year in its run-up to becoming a brand aggregator in the food and beverage space. Sequoia-backed Rebel Foods had earlier committed US$150 million for investments and acquisitions globally.
“Our partnership with Rebel Foods will be critical as they have a strong presence [in the region], and that will help us quicken the learning curve and also leverage their cloud kitchens for our launch,” Vimal Sharma, founder and CEO of Smoor, told Tech in Asia.
Smoor currently has 30 stores in India, which it plans to take to 118 by the end of this financial year.
See also: Cloud kitchen operator plots aggressive SEA expansion with unique approach
Editing by Miguel Cordon and Jaclyn Tiu
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