Future Salad hopes to reach annual sales of 1 billion
2022-11-21 00:00
(Sing Tao Daily Report) After the epidemic, Hong Kong people pay more attention to dietary health, which has brought opportunities to local food technology companies. Among them, Future Salad recently announced the completion of its Pre A+ round of financing, which raised more than NT$20 million and is currently valued at more than NT$200 million. Ou Xiaofeng, co-founder and chief marketing officer of the company, said that the next round of financing will be announced next year, and it plans to be listed in Hong Kong on or before 2026. The target annual sales will reach more than 1 billion yuan. In addition, it plans to invest in the first half of next year. Open 2 more stores.
Future Salad uses food technology to develop products that turn edible salad into drinking salad, making it easier and faster for "working people" to enjoy salad. The company's sales in the past year exceeded 40 million yuan, especially offline sales, which grew faster. As the annual "Double Eleven" shopping festival approaches, Ou Xiaofeng said in an interview with this newspaper that "Double Eleven" is one of the company's peak sales periods. Driven by the shopping festival, the target sales in November 4 to 5 million yuan.
Hope to promote the brand to family customers
The previous Pre A+ round of financing was participated by multiple investors, including Bruce Rockowitz, who has served as president of Li & Fung Group and Global Brands. Ou Xiaofeng said that with the connections established in Europe and the United States by one of the investors, Le Yumin, he believed that it would help the brand develop locally. The funds raised from this financing will be used for team recruitment and market expansion, as well as product research and development, and additional production. Equipment, machinery and materials, and the rest will be used for marketing and publicity.
In terms of product research and development, he revealed that the expenditure on new product research and development accounts for about 10% of revenue, which amounts to more than one million yuan every year. Product research and development also takes time because the taste must meet the preferences of different customer groups. He predicted that products suitable for children aged 3 to 10 will be launched next year, hoping to promote the brand to family customers. In addition, the brand will speed up the launch of new salads with different functions, flavors and forms, such as new salad cookies, new salad gummies, etc., to meet different needs in the market.
Plans to open two more stores in the first half of next year
The brand's main sales points are its official website, chain stores and online shopping platforms, and it currently has stores in Admiralty Galleria, Times Square and Harbor City.
He revealed that the traffic and sales at the relevant location are good, mainly because there are more "OL customers" nearby. He plans to open two branches in the first half of next year, targeting densely populated areas such as Shatin and Kai Tak. In addition, other branches will also be gradually opened. Online and offline distribution points.
When it comes to entering overseas markets, the company has entered the Taiwan market as early as the first quarter of last year and entered the Thai market in the first quarter of this year. Ou pointed out that the company will develop offline distribution points in relatively mature markets, such as Taiwan. In addition, in the UK, the trial operation started in July this year, and offline and online promotions and large-scale product trials are being carried out. We are looking for suitable local Internet celebrities or artists to strengthen promotion.
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