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Executive Summary Licious is India's first direct-to-consumer (D2C) unicorn in the fresh meat and seafood category, founded in 2015 by Abhay Hanjura and Vivek Gupta in Bengaluru. Operating in a market historically defined by unorganized wet markets, absent cold-chain infrastructure, and entrenched consumer distrust of packaged meat, Licious constructed a brand strategy that was fundamentally inseparable from its operational model. By owning the entire value chain — from farm