Atelier Expressions takes majority stake in luxury mithai brand Khoya
TVS VENU's premium lifestyle platform Atelier Expressions will acquire a majority stake in Delhi-based luxury mithai brand Khoya, with founder Sid Mathur retaining operational control. The deal aims to scale Khoya across India and is expected to close by end-August 2026.
What happened
Atelier Expressions, TVS VENU's premium lifestyle platform, will acquire a majority stake in Delhi-based luxury mithai brand Khoya, aiming to scale its presence
Key facts
- USD 6.5 billion FY26 revenue
- 64,000 people
- 90 countries
Why this matters
This majority acquisition (closing ~August 2026) signals Atelier Expressions is actively consolidating niche luxury food brands—watch for further roll-ups across the premium lifestyle segment.
What to watch
- Deal close confirmation by end-August 2026
- First new store openings outside Delhi
- Founder Sid Mathur's continued operational role and any equity earn-out terms
- Pricing changes that could dilute luxury positioning during scaling
- Other TVS/Atelier premium lifestyle acquisitions signaling portfolio strategy
- Announce store expansion roadmap with target city count and format (boutique vs. shop-in-shop)
- Build out omnichannel/D2C infrastructure and cold-chain logistics for national mithai distribution
- Leverage festive calendar (Diwali 2026) for gifting-led revenue push
- Hire senior retail ops and supply-chain talent under Atelier governance
- Explore corporate gifting and hospitality (hotel/airline) partnerships