RE: Get yourself to Iceland over the BH weekend27 Aug 2023 16:33
Yorek, thanks for that update and great to see that *nearly* every one of the new range extension, that I tipped everyone off on last week, has now hit the website and they are all lipsmackingly appetising.
Online you can see the improvement in the packaging through the rebranding but it is definitely different league when you see it in the freezers and side by side with the old - and contrast with whats in the freezers next door. Its standout eye catching and will lead to more sales. The website also shows that they are already morphing the old range into the new packaging also with the Tikki Masala and rice and the Katsui Curry and rice and Singapore Noodles etc etc also having made the packaging change. All will I assume with restocking.
Brilliant also that these are now online for purchasing and home delivery sales and also nice to see that they have put them on offer also with the 3 for £10 and 2 for £8. I'll bet the likes of Tesco will be kicking themselves (or looking for an own brand slice of the same)
There are 3 items from the new range still to make it to the website that those going instore will also find in the freezers - one is called a "Meatzo" - which is a novel take on a smaller sized Pizza, laden with meats and tomatoes and its 74grammes of protein to the good. There is also a Piri Piri wrap and Piri Piri skewered chicken yet to display.
I did say they have virtually doubled the range and it's now 2 freezers full of products which virtually replicates the freezer space that Slimming World has in Iceland and who took £95 Million in their first year.
Best thing about it is that they never even hinted to the market or anyone about range extension and this one has dropped without a dickie bird. Hence why I was laughing at and topping up at the same time during Fridays low volume 5% drop.
They did tell us though that it's Choc ices and Ice cream lollies also into Iceland in September and then there are Cereals, Yoghurts and Cheeses also coming over the next few months.
Matt Moulding has also openly told everyone that THG's contract with Iceland only applies in the countries where Iceland have stores (UK and a small few in Spain) and they are free to repeat this in other territories and with other supermarket groups.
Phenomenal achievement to get all those products from what was only food scientist thought, to product sourcing, manufactured, tested, refined, packaged and into Iceland stores in probably less than 6 months.
The market will soon get a taste of how undervalued this stock is, for MyProtein (on a Mars / Kevin's Natural Foods takeover at 5.7X revenue multiple is an over £3 Billion company in it's own right. THG Beauty and THG Ingenuity thrown in for free.
Expect some Linkedin posts and announcements next week as people filter back from their holidays.
https://www.iceland.co.uk/exclusive-brands/my-protein?start=25