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Hello Fresh

Retail Challengers - Presentation by Dominik Richter, Founder & CEO of Hello Fresh at the NOAH 2015 Conference in Berlin, Tempodrom on the 10th of June 2015.

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Hello Fresh

  1. 1. June 2015 HelloFresh Building the leading global online consumer food brand
  2. 2. SAVE THE DATE GET YOUR TICKET NOW! www.noah-conference.com/request-invitation Old Billingsgate, London Tempodrom, Berlin 12-13 NOV2015 8 - 9 JUN2016
  3. 3. HelloFresh - Creating the leading global online consumer food brand2 The HelloFresh Vision Building a truly global consumer food brand “Our vision is nothing less than to establish a wholly new and massive category on the grocery market. We want to give every household the opportunity to enjoy home-cooked meals without the hassle associated with it. We re-invent weeknight dinners by disrupting the traditional food supply chain, allowing us to provide you with fresher, better and more affordable meals, delivered to your doorstep at the most convenient time of the week.”
  4. 4. HelloFresh - Creating the leading global online consumer food brand3 HelloFresh is currently the global leading recipe kit delivery service 3 years after launch we deliver more than 4m meals per month Number of Meals delivered per week (January 2012 – May 2015) 0 100.000 200.000 300.000 400.000 500.000 600.000 700.000 800.000 March 2014Jan 2012 October 2013 The Food Market: • The grocery market is the last major area of commerce to transition online, now < 1% penetration! • Largest retail category ($ trillion opportunity), second largest household expenditure • At home cooking represents on average 40% of the grocery consumer spend within our geographies Re-inventing Weeknight Cooking: • Convenience • Value • Transparency Our Business: • Subscription model revenue stream with high weekly AOV, high and increasing CLVs, healthy margins and high retention • EBITDAM profitable and all marketing costs covered in less than 7 months • Several geographies already produce positive EBIT, the whole Group has been cash-flow generative for large parts of 2014 May 2015
  5. 5. HelloFresh - Creating the leading global online consumer food brand4 The HelloFresh Order Life Cycle: zero inventory & just-in-time deliveries create a powerful negative working capital cycle 1 2 4 3 Local recipe creation Tailored towards customers’ tastes Based on 1000s of data points and customer feedback Nationwide delivery Guaranteed delivery time <24h with insulated packaging solution Delivery within specified time window for maximum quality & freshness Sourcing of high quality Ingredients Just-in-time ordering with independent suppliers Optimized for current Market prices Pick & Pack in central warehouse facility Zero inventory Highly standardized processes allow fast through put times & Low fulfillment cost per order Customer interaction online and flexible: • Consumer opts in each week for the recipes provided • Soft-subscription model allows for low intial commitment, but • Rate of retention after trial period ends remains high Creation of Cost Efficient Perishable Supply Chain: • Nationwide delivery available in all but one geography • Own last mile delivery in several geographies, increasing operating leverage • Opening additional production facilities across the US • Supplier relationships in place specific to each geography and tailored to consumer )
  6. 6. HelloFresh - Creating the leading global online consumer food brand5 Our Market: Enormous potential audience; global grocery market Global Food Industry is c. US$2.06trn Of which Food Retail is c. US$1.06trn Groceries constitute the second largest household expenditure globally: • Current online penetration of the grocery market is less than 1% • Forecasts for online growth range from 11% to 2018 (Forrester) to 20% pa to 2025 (Technomic) On average 40% of this spend goes towards the Home Cooking market: • Growth in Home Cooking will be further driven by • Health and Wellness trends • Transparency of ingredients • Convenience of access Build up wholly new category on home cooking market • Unique opportunity to disrupt traditional grocery retail categories • Ability to offer fresher food, pre-measured at competitive prices to respective target group • Wide socio-economic appeal given price point of entry boxes, and supermarket basket value comparison Broad geographic diversification: • US, UK, Germany, Netherlands, Austria, Belgium and Australia Penetration rates and Adoption Levels in our core model in all countries are still low and only at the very beginning of what we consider possible Expansion beyond our core model addresses an increasing portion of the global food market
  7. 7. HelloFresh - Creating the leading global online consumer food brand6 The Game Plan: Driving growth through increased penetration, profitability through scale and customer loyalty Capitalising on both growth of online grocery, increase in At- Home consumption and generational food awareness trends Increasing Penetration Increasing Retention Up-sell and Cross-sell New Geographies Iterative recipe creation via 1000s of data points and customer feedback, scale and insourcing production allow for improved customer service Introduction of new product ranges across existing geographies: Grocery adjacent e-commerce, Special interest boxes, Breakfast boxes…. Increasing customer base within current geographies leads to improvements across all cost categories Profitability through Scale Increasing customer base within current geographies leads to improvements across all cost categories Huge opportunity in the last area of retail to undergo the transition to online, with a team that has proven it can produce both cash- flow and EBIT while continuing to grow at incredible speed