Zerodha co-founder Nikhil Kamath has shared an interesting trend from his gourmet supermarket business, Food Stories, in the podcast ‘WTF Is' and 'People By WTF'.
He revealed that caviar priced at Rs 17,000 a tin is among the best-selling products at the store in Delhi. Surprisingly, customers are pairing the expensive delicacy with parathas and butter.
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Talking about the store's sales, he said, “We have a new supermarket business, it's called Food Stories. Guess what we are selling the most of in Delhi? You will not believe it—what? Caviar, Rs 17 thousand a tin! People in Delhi are eating it with paratha, with butter and all. Mad!”
Rs 2,000 For Tomatoes, Rs 3,000 For Avocados
Kamath said Food Stories is more than a regular supermarket. It gives customers access to premium ingredients and food products from different parts of the world. The store sells tomatoes priced at Rs 2,000 and avocados costing Rs 3,000.
He also said he enjoys visiting the store and exploring its products. “It's really fun to go, I go around a lot, I love it. It's not just about the food, it's an experience,” he said.
Kamath also explained why restaurants may find it difficult to use such expensive ingredients. If they buy produce at these prices, they would have to charge customers much more for their meals.
“In a restaurant it might not make sense, because if I buy produce at that price, I have to sell a main course for Rs 5,000, how many people will come?” he added.
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Why Is Kamath Betting On Physical Retail?
In a LinkedIn post, content creator Vikas Chawla highlighted Kamath's investment in physical retail at a time when quick-commerce companies are expanding across India.
Food Stories recently raised Rs 50 crore in a funding round led by Kamath. The gourmet food brand was founded by the daughters of Kishore Biyani, who built the Big Bazaar retail chain under Future Group. The group later faced financial difficulties and debt of around Rs 12,000 crore.
He pointed out that while delivery apps offer convenience and speed, physical stores give customers a chance to discover new products, examine ingredients and enjoy shopping at their own pace.
Chawla also noted that a delivery service can bring groceries to someone's doorstep in minutes, but it cannot offer the experience of exploring a speciality food store.
Kamath's investment reflects the potential of premium grocery shopping in India. While quick commerce focuses on fast delivery, businesses such as Food Stories are trying to attract customers through quality products and a different shopping experience.
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