HelloFresh Launches Ready-To-Eat Brand ‘Factor’ In Europe
HelloFresh, a meal-kit company, has introduced its ready-to-eat (RTE) brand, Factor, to the European market, starting with its initial release in the Netherlands and the Flanders region of Belgium.
This strategic move is in line with multi-tier branding approach and aims to tap into new customer segments, expanding its potential market, as the company highlighted.
Based on the positive reception of Factor in the United States and Canada, the company has opted to bring the brand to the Netherlands and Belgium due to the high prevalence of e-commerce food solutions and a strong inclination towards convenience in these countries.
Thomas Griesel, the co-founder and CEO, expressed, “With the introduction of Factor, we are providing a fresh and extremely convenient RTE solution to individuals in the Netherlands and Flanders […].”
Factor’s offerings ensure convenience without compromising on nutritional value, freshness, or flavor, presenting an exciting new product to consumers in the region.
Factor presents a menu of 12 chef-crafted and nutritionist-approved meals weekly, catering to various dietary preferences including flexitarian, pescatarian, vegetarian, and keto diets.
Originally established in the United States in 2013, Factor was acquired in November 2020. Post-acquisition, HelloFresh’s market share in the RTE sector in the US surged to 60% by the fourth quarter of 2022.
The company boasts a diverse brand portfolio, which includes meal-kit brands like HelloFresh, EveryPlate, Chefs Plate, and Green Chef, as well as RTE brands Youfoodz and Factor.
This extensive lineup allows customers to access a range of food options tailored to different needs, occasions, and price ranges.
In 2022, it extended its presence by launching Green Chef in the Netherlands, catering to health-conscious consumers with specific dietary requirements.
Furthermore, HelloFresh reported a 31.5% increase in its second-quarter core earnings in 2023, attributed to improved operational efficiency and prudent marketing expenditure.
