How Keventers is Milking Milkshakes Business Opportunity

How milkshake brand Keventers reinvented itself to clock a revenue growth of 50% in FY 2022-23

- Bhavishya Bir

Delhi-based milkshake Keventers brand saw an increase of 50% in revenues in financial year 202223, according to Agastya Dalmia, Director of Keventers. The brand also opened 30 new outlets in the last financial year. Dalmia claims that Keventers has had an upwards graph since it was relaunched in 2015 with a 50% compound annual growth rate and is today a leading player in the country's 5.3 billion (2022) milkshake market.

The company runs 115 company-owned stores spread across 65 cities in the country, most of which are in the food courts of premium malls.

The brand is also present in some high streets. "However, food courts have been the most profitable for the brand, especially in malls like Select CITYWALK and Promenade which have 40% higher sales as compared to other malls," Dalmia said.

Old Bottle, New Image

In 2015, the 1889-established dairy products brand was reintroduced as a milkshake brand by Agastya Dalmia, the grandson of its owner Ram Krishna Dalmia, after being dormant for several decades when the senior Dalmia lost interest in it. As a trial, the young Dalmia, along with his friend Aman Arora, started with just one outlet at Select CITYWALK. Encouraged by the response, he started opening outlets at premium malls across Delhi, before taking it beyond the capital.