Competing with rival Blue Apron in...
German meal-kit maker HelloFresh has pulled ahead of Blue apron to become the market share leader in the US market.
Competing with rival Blue Apron in the US, HelloFresh delivers pre-packaged meal ingredients to make home cooking easier.
The German company reported a 68.9% increase in active US customers. Today HelloFresh has around 1.2mn US customers.
In its first-quarter results, the German firm reported that its revenue jumped 44% to EU€295.6mn ($353.5 million), or 60% excluding currency effects.
Meanwhile, Blue Apron saw a 20% slump in its first-quarter revenue.
- Ocado to enter US market with 'transformative' Kroger deal
- Amazon Go stores will open in Chicago and San Francisco
- Unilever's Sustainable Living Brands fueled 70% of its turnover growth last year
In March, HelloFresh revealed that it acquired Green Chef, an organic meal-kit startup that is geared towards consumers who follow a vegan, gluten-free, Paleo or Keto diet.
By targeting speciality diets, the firm hopes to establish its position in the US meal kit sector.
The meal-kit market is growing rapidly, according to a report by Earnest Research meal-kit sales rose 40.7% last year.
In response to its net revenue decrease, Blue Apron has launched a pilot programme with Costco, selling its meal-kits in a handful of its stores in a bid to expand the brand’s reach.