Swiggy relaunched gourmet grocery ‘Handpicked’ as a new category under its quick commerce platform Swiggy Instamart. The new service will allow users to buy “local, regional and select new-age brands, clean-label products, freshly prepared items and gourmet offerings” within “10 minutes” in the city.
The latest development comes at a time when the quick e-commerce platform is gearing up for its IPO. In preparation for what could be the second-largest startup IPO in the Indian market after Paytm, the company has been aggressively cutting costs and streamlining operations.
The app is currently available in Bengaluru city. However, the FoodTech major plans to expand ‘Handpicked’ to Delhi and Mumbai soon. A statement by the company declared that the gourmet grocery offering will feature more than 500 products from brands such as Iyengar’s, Sweet Karam Coffee, Blue Tokai and The Whole Truth, among others.
Phani Kishan, CEO, Swiggy Instamart in a post on X, said, “Hi Bengaluru! Super excited to launch “handpicked” on SwiggyInstamart. With handpicked, we aim to curate the best of the best products that are fresh, local, authentic and 100 per cent high quality. Do check it out and share feedback. More importantly, recommendations that you would love to see.”
The move to wrap up the pilot last year came as Swiggy undertook a massive restructuring exercise to trim cash burn and cut down losses. The app snaps back after a year of shut down. The relaunch can be attributed to high margins and the growing demand for such products.