Graze snacks brand eyes retail opportunities beyond the UK
Graze has just marked the one-year anniversary of the launch of its first retail products – and says they are now outselling some leading confectionery brands in retailers.
More than 5,000 UK stores including supermarkets Sainsbury’s, Tesco and Waitrose and pharmacy chain Boots now stock Graze snacks.
The business attributed its success to its origins as a direct-to-consumer online operation, using innovation methodology that its said enables it to launch a product in 48 hours.
“We’re delighted by the unprecedented success of Graze’s first year in retail and we would be mad not to explore the opportunity to take this concept to other markets,” CEO Anthony Fletcher told this site.
“It’s a trend that we are seeing more widely with a number of successful direct to consumer brands making their mark in retailers across the globe. Recent examples include Harry’s, the online subscription razor brand, and the Honest Company both of which are now listed in Target stores across the US.
“It’s clearly a model that works.”
Changing portfolio
Graze has a constantly changing portfolio of more than 400 SKUs available online, and uses ratings from online customers to select when to bring products to market in retail stores. As revealed by this site in April, the Graze retail range has been extended this year with six sharing bags.
“There’s two reasons for our success – one is that health is major trend that is gathering pace,” said Fletcher.
“Secondly, technology gives us an ability to respond rapidly to these changes. By plugging that void at the tills, Graze is getting one step closer to achieving our vision of becoming the number one healthier snacking brand in the UK.”
The business extended its online snacks subscription service into the US in 2014 with a permanent operation based in New Jersey, and Fletcher said he was looking at new avenues to grow the Graze retail range.
Graze, which recorded revenues of £68m ($90m) in its latest released accounts, is majority owned by American investor the Carlyle Group, with Octopus Investments, DFJ Esprit and management owning the remaining share.
