A Mexican food brand rejected by the dragons of TV show Dragons' Den is seeking supermarket listings after securing private investment.
Marcela Flores-Newburn appeared on the show last weekend seeking £75,000 investment for a 20% stake in Rico Mexican Kitchen, which produces fresh salsas, cooking sauces, juices and snacks.
Despite a strong pitch accompanied by a Mariachi band, and a positive taste test from the Dragons, they turned her down after saying the company required more than £75,000 and questioning the strength of the branding. However, a group of Northamp-tonshire-based investors provided funding this week to help the business with marketing, product development and branding to support its drive into the supermarkets.
The business, which was launched in 2008 to offer a range of premium authentic Mexican food, has made £70,000 in retail sales to date and is hoping to achieve £370,000 in the next year. Among the products it currently sells through Whole Foods Market, Harrods, Selfridges and independents are salsa verde; mild and tasty salsa; chipotle xtra hot salsa; spicy beans; and Mexican mole sauce (rsp: £1.79 to £1.99). The company has also secured a listing with Waitrose for its juice products and, with the help of the new funding, hopes to develop an ambient range.
"The Mexican spirit and sharing occasion has been brought to the UK but I will bring authentic flavours and methods and innovation to the sector," said Flores-Newburn, who sources some of her ingredients from Mexico.
Marcela Flores-Newburn appeared on the show last weekend seeking £75,000 investment for a 20% stake in Rico Mexican Kitchen, which produces fresh salsas, cooking sauces, juices and snacks.
Despite a strong pitch accompanied by a Mariachi band, and a positive taste test from the Dragons, they turned her down after saying the company required more than £75,000 and questioning the strength of the branding. However, a group of Northamp-tonshire-based investors provided funding this week to help the business with marketing, product development and branding to support its drive into the supermarkets.
The business, which was launched in 2008 to offer a range of premium authentic Mexican food, has made £70,000 in retail sales to date and is hoping to achieve £370,000 in the next year. Among the products it currently sells through Whole Foods Market, Harrods, Selfridges and independents are salsa verde; mild and tasty salsa; chipotle xtra hot salsa; spicy beans; and Mexican mole sauce (rsp: £1.79 to £1.99). The company has also secured a listing with Waitrose for its juice products and, with the help of the new funding, hopes to develop an ambient range.
"The Mexican spirit and sharing occasion has been brought to the UK but I will bring authentic flavours and methods and innovation to the sector," said Flores-Newburn, who sources some of her ingredients from Mexico.
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