-
THIS has seen supermarket revenues double since the pandemic developed in the UK
-
The startup also revealed it had sold 3m portions of its products since launching in June last year
Fast-growing plant-based meat startup THIS has seen supermarket sales double since the coronavirus outbreak started to develop in the UK.
As households eat more meals at home due to the nationwide lockdown imposed at the end of March to prevent the spreading of the virus, THIS reported a strong increase in demand with supermarket revenues doubling between February and March.
This was despite “vegan and plant-based foods feeling the impact of panic-buying”, the company – which produces pea and soy-based products - said, with many items being left on shelves.
“Ain’t no pandemic going to keep THIS down,” said co-founder Andy Shovel.
He added the business was “not worried about stock levels” despite the strong sales increase.
“As soon as news of the virus spreading in Italy broke, we began stockpiling product in the UK, just in case. This has now paid off, and we have ample supply to fall back on, should there be any delays in the supply-chain,” he said.
The startup, which launched in June last year, also revealed it sold 3m portions of its products since launching, growing at a compound rate of 35% month-on-month.
The company’s “meteoric rise” – boosting revenues to over £3m - saw it gain listings in over 1,200 outlets across the UK, including Waitrose, Co-op, Holland & Barrett and Ocado as well as restaurant chains such as Honest Burgers and Coco Di Mama.
New listings and product formats are due to be announced during 2020.
No comments yet