Conscious Chef Announces Increased Growth Amid a Healthy Diet Spur | News

Grocery growth and takeaway expansion kept takeaway tool company Mindful Chef post solid growth last year on top of a record-breaking 2020 year.

Newly filed accounts at Companies House showed the brand grew 39.3% to £67m in its first full year under majority ownership by Nestlé.

The continued increase in sales came on top of a 228% increase in revenue in 2020, as the home delivery and basic subscription business has boomed during the pandemic.

CEO Tim Lee said the company had noticed “consumer behavior changing again” after Covid, but stressed that levels of customer retention for the brand were “better than ever” as the business has been supported by a “continuous shift in consumer interest with dieting.” healthy” .

To capitalize on this demand, the brand has cemented its traditional presence in the grocery business, with the launch of a recipe fund partnership with Waitrose in late 2021 and the expansion of its refrigerated meal range in 2022 at the supermarket.

This resulted in four-digit growth (1,021%) in retail, while the “Ready to Go” frozen range was up nearly 32% as it continued to expand its category presence and SKU range.

“Mindful Chef is constantly evolving and diversifying to suit the needs of consumers, so while our D2C offering remains popular, more and more income is being generated from consumers who engage with the brand through retailers,” Lee said.

The brand made a statutory £33.8 million profit due to a one-time gain from sales of intellectual property to another Nestlé subsidiary.

Excluding this, operating is losing growth to £2.6m from £1m, which is “in line with business strategy” to invest in consumer awareness and customer acquisition.

Lee also highlighted B Corp’s corporate standing and efforts to achieve “net zero” by 2030.

“We believe in reinvesting profits into our critical business and supply chain in order to drive sustainable practices that are at the heart of what we do,” he said.

“We have a very clear example of that due to be launched in the fourth quarter, where we are very excited to reinvest our earnings back into our broader business in order to support local UK businesses and put our money in place.”

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