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Pescafresh to expand across India before end of financial year 2014-15
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Friday, 31 October, 2014, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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fiogf49gjkf0d Fresh seafood brand Pescafresh plans to open three new pads (in Bandra, Bengaluru and Hyderabad) by the end of the year. The Bengaluru and Hyderabad pads would be central hubs. It also plans to commence operations in Delhi by December 1, 2014, and Pune by the end of financial year 2014-15. The company has a central pad (and main processing unit) at Lower Parel and pads at Andheri, Powai, Vashi and Colaba.
The hub-and-spoke business model of the company is scalable, and there is significant headroom for growth in India, given the low level of organisation in fresh fish retailing. Pescafresh has adopted a strategy of multi-channel distribution, which includes home delivery, shop-in-shop (SIS) (hypermarkets, gourmet stores and supermarkets) and e-tailing (the pilot for which would commence this calendar year).
Pescafresh has a strong window presence in organised retail through SIS arrangements with Godrej Nature’s Basket (in Mumbai and Bengaluru); Future Retail Ltd (Foodhall and Big Bazaar [Mulund]), Tata’s Trent Gourmet Stores West (Kala Ghoda) and Aditya Birla Retail Ltd’s (ABRL) More (in Mumbai, Bengaluru and Hyderabad). The company is currently in advanced talks with major retailers for exclusive SIS agreements.
Between their existing retail chain partnerships and potential partnerships, there is a hypermarket SIS potential of over 100 stores, and a supermarket potential of over 500 stores over the next three years. Apart from these new relationships, Pescafresh has been given the opportunity to pilot an innovative shelf-ready supermarket concept with More (encompassing over 200 stores across the country).
Pescafresh chief executive officer Sangram Sawant said, “We are seeking to invest in a robust supply chain network and operations to seamlessly enable products to be shipped to individual urban centres based on consumption needs and optimal sourcing location. We would be achieving revenues of Rs 70 crore over the coming year, which implies a growth rate of over 100 per cent”
Despite it being a highly volatile product market, Pescafresh is able to provide competitive pricing, owing to economies of scale and better sourcing and supply chain networks and efficiencies. With the fishing season just beginning, one could expect a supply of fresh fish from India’s eastern and western coasts, as well as from overseas (such as Scottish Salmon, Norwegian Salmon, Norwegian Halibut and Mahi Mahi).
The company would launch a Web portal, which would enable customers to place orders online. In response to elevated smartphone penetration and use for transactions (about 40-50 per cent of the total online transactions are placed on mobile phones), the company would also launch a mobile application to ensure that the customers are able to order their favourite Pescafresh seafood and receive tailored offers on their smartphones.
This would ensure that its interface with the consumers is convenient, relevant and engaging. The company’s back-end operations are being strengthened by leveraging the mobile platform for operational and supply chain efficiency. The mobile application would be launch before the end of the calendar year, and would allow real-time visibility of seafood sources at the remotest of fish landing centres.
New launches
Fresh seafood brand Pescafresh launched Norwegian salmon and Atlantic salmon, and would launch Norwegian halibut shortly.
Norway has had a long tradition of managing its fisheries and rigorously working towards strong science-based management.
According to the Norwegian Seafood Council, the world’s best seafood was from the European country.
That, it said, was because of a combination of environmentally-responsible, economical and sustainable fisheries and high levels of quality management.
Pescafresh shrunk its supply chain straight from shore to door. It directly imports from the farms and retails through its own store network.
The shelf life of Norwegian salmon, if maintained at a temperature ranging between one and three degree Celsius, could be eight days. However, it is best consumed within 72 hours.
The preferred way to cook the fish, which is available exclusively at Pescafresh, is in the oven. The important aspects are low oven, low heat, moist heat and fresh herbs.
Owing to its versatility, salmon can also be fused with Indian masalas and cooked in a tandoor. However, well-travelled Indians use high-quality salmon to prepare Carpaccio.
Named after Venetian painter Vittore Carpaccio, this Italian dish consists of raw fish, thinly-sliced. It is served mainly as an appetiser.
Fresh Norwegian halibut (also known as Pacific halibut, Northern halibut and Alaska halibut), would be made available in India by Pescafresh in the second week of November.
The size is the most distinctive characteristic of this fish. It can stretch upto eight feet in length and four feet in width, and weighs 600lb. Market sizes run between 10 and 200lb.
Mildly-flavoured and with a firm texture, this species is found along the Pacific coast. It retains its moisture in a frozen state, and keeps its texture when well-cooked.
It is a sweet-tasting, lean fish with fine grained dense meat that dries out if overcooked. When uncooked, the white flesh of halibut should be translucent, not dull yellowish or dried out.
And when cooked, the snow white meat loses its glossy appearance, and becomes flaky and tender but firm.
It holds together well, and bones are easily spotted. This fish is often served to heads of state, royalty and other distinguished guests.
Atlantic salmon began to emerge on the commercial scale in the year 1980. It was launched in India by Pescafresh in the last week of October.
Atlantic salmon (also known as farmed salmon and eastern salmon) is farmed in over a dozen countries around the world (notably in Latin America, Europe and North America).
The flavour of this fish is milder than that of the wilder salmon species. The meat is moderately firm and oily, though not as fatty as the wild Chinook.
The flesh flavour varies depending on the amount of pigment in the feed, but generally it is rich orange or pinkish orange in colour. It retains its colour when cooked, and has a large moist flake.
Loch Duart, categorised in the same species as Atlantic salmon, is a handsome silver-skinned fish. It has distinct black-cross like spots over its body and head and above the lateral line.
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