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Qmin is profitable for IHCL from day one, says Jehangir Press

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  • Indian Hotels, the operator of Taj Hotels, launched its food delivery platform Qmin at the height of the pandemic.
  • Born out of adversity, this start-up has been profitable since day one in the industry dominated by Zomato and swiggy.
  • Jehangir Press, associate VP, strategic account management group and commercial director, Qmin at IHCL speaks with https://londonbusinessblog.com/ India about Taj’s value chain, growth story, journey to date and revenue goals for FY23.

Indian Hotels, the operator of Taj Hotels, launched its food delivery platform Qmin two years ago. At the height of the pandemic, instead of outsourcing Taj Hotel Group’s delivery services to existing platforms, Tata Group launched its own internal platform in Qmin.

In the past two years, Qmin has generated revenue amounting to ₹100 crore. This year alone, it hopes to achieve a turnover of ₹80 crore.

“We may be the only food delivery platform that has been profitable from day one because we struck the right balance in using our existing resources,” Jehangir Press, associate VP, strategic account management group and commercial director, told Qmin at IHCL. , to https://londonbusinessblog.com/ India.

The 90 minute delivery service

Zomato and his rival Swiggy stick together
90-95% market share in India’s food delivery business, as well as burning cash. In the quarter ended March 2022, Zomato posted a net loss of ₹1,222 crore, which increased by ₹400 crore since last year.

With Qmin, the Tata Group no longer has to depend on companies such as Zomato or Swiggy for deliveries. Qmin also gave the group complete control over the entire value chain, from food preparation to delivery.

“We have 100% control over the value chain, which puts you in control of the safety, hygiene and health of everything you ship. We cannot, of course, make any concessions in the area of ​​hygiene and safety. We took a call and although it cost us significantly more, we went for the entire ecosystem,” said Press.

Unlike its competitors who have focused on reducing their delivery time from 30 minutes to 10 minutes, Qmin says it has prioritized safety, security, hygiene, sustainability and delivering a luxurious experience.

Qmin takes up to 90 minutes to deliver its orders. The menu starts from ₹200 and Qmin’s family celebration widget and Fiama pizzas are the most ordered meals in the app.

Qmin

It has so far delivered more than a million meals to consumers and donated more than 57,000 meals to flood-affected areas of Assam.

From luxury food delivery to gourmet eateries

Where it started as a gourmet meal delivery service, Qmin has expanded into several food categories with the launch of its food truck, gourmet food stores and Qmin quick service restaurant (QSR).

The food trucks are stationed outside the company’s offices and it is also suitable for private parties.

Qmin is profitable for IHCL from day one, says Jehangir Press
Qmin

Qmin stores, present in Mumbai and Delhi, sell international food items such as bread, handmade cheeses, cold cuts, patisserie items, etc.

Qmin is profitable for IHCL from day one, says Jehangir Press

Qmin also has 13 QSRs in Bengaluru and will expand its presence in the country in the coming months.

“We are looking at at least 100 plus stores in QSRs to open very soon across the country. Our trucking business will also grow, but not at the same pace. We see the greatest growth in the stores,” according to Press.

Qmin is also considering expanding its presence across borders, starting with the UK, US and UAE markets.

Qmin is profitable for IHCL from day one, says Jehangir Press

While delivery and stores contribute almost as much to Qmin’s total revenue, Press is confident that stores will contribute a lion’s share of revenue in the near future.

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