HelloFresh Australian revenue booms
Meal-kit company HelloFresh Australia has grown its Australian revenue by over 50 per cent during the company’s first quarter.
The company said its Australian business now has a revenue run rate significantly above AUD $200M, consistent profitability, and year-on-year (YOY) Q1 growth above 50 per cent.
Founded six years ago, the business, at group level, achieved audited FY revenues of AUD 1,450 billion (EUR 905 million) – the first time they have broken to the AUD 1 billion mark. This result represented year-on-year growth of 52per cent.
Hellofresh Australia CEO Tom Rutledge said at a group level the results are tremendous.
“At an Australian level we’ve been able to deliver the holy trinity of record growth, consistent profitability, and record performance in our key customer experience metrics. It’s really pleasing to be able to deliver for our investors while improving the customer experience. It’s something that many businesses struggle to achieve simultaneously,” he said.
The growth of HelloFresh Australia has been relatively fast.
Similar service providers have emerged which validates the belief that the market is ready for this concept, but it is a complex supply chain which is difficult to execute well, and efficiently, at a small scale.
Grocery retail is both the largest and the least digitally disrupted retail category in Australia with less than 3% of groceries bought online.
“That’s something we’ve been able to do, and we’ve built a supply chain and technology platform that is bespoke to the service. This allows us to ship over half a million meals across the country every week with only 15 recipes, 100 SKUs, and less than 1% waste – and, crucially, as little as 1 decision for each of our customers,” Rutledge continued.
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