D2C unicorn Licious has introduced an “Everyday Vesting, Anytime Liquidation” ESOP plan beneath which all ESOPs will be vested each day, and employees will have the selection to liquidate ESOPs anytime, beginning from January 1, 2022.
The enterprise will set apart a pool of secondary funds every single 12 months to allow the anytime liquidation. Nonetheless, this chance will be out there to the employees only soon after a person 12 months is above, as mandated by enterprise law.
To profit above 1,000 workers
This new ESOP plan is mentioned to profit above 1,000 Licious employees who currently individual ESOPs. Moreover, all new employees who receive ESOPs will be extra to the pool. Licious is now a 3,500+ customers sturdy staff, and its ESOPs programme rewards employees across functions, like processing centre workers, shipping and delivery boys, and company employees. Before this 12 months, the enterprise also extended a buyback selection truly worth ₹30 crores.
Commenting on the announcement, Vivek Gupta and Abhay Hanjura, co-founders, Licious mentioned, “The pandemic has taught us several lessons, and a person among the these is to hold your persons closest to the firm and reward them for their hard function and contribution. At Licious, we have been recording unprecedented progress and that also in a extremely unorganized industry. Our employees’ contribution in this progress trajectory has been huge and incentivizing them well is among the our priorities. We are conscious of serving to Licians (Licious employees) meet up with their particular and economic plans via wealth generation as we manage the industry, and producing vesting and purchasing ESOPs each day, signifies the exact same.”
Launched by Abhay Hanjura and Vivek Gupta, Licious is a D2C manufacturer in raw and refreshing meat and seafood, marinades and ready-to-try to eat categories. In the past six a long time, Licious promises to have served above 3 million packs of meat goods to shoppers across fourteen Indian cities like, Bangalore, Hyderabad, NCR, Chandigarh, Mumbai, Pune, Chennai, Coimbatore, Jaipur, Kochi, Vizag, Vijayawada and Kolkata. Licious serves above 1 million orders every single month with above ninety per cent repeat use across markets.