Exponent sets out to turn Quorn into a £300m brand
New Quorn owner Exponent Private Equity has laid out plans to grow the meat-free market leader into a £300m brand within 10 years.
The company, which bought Quorn along with Cauldron from Premier Foods last January, said it planned to invest in NPD, increased distribution, a refocused promotional strategy and a TV ad campaign to “increase relevance of Quorn as an everyday brand”.
“Quorn Foods is approaching 2012 with a revamped strategy and major brand investment,” said Julian Cooke, head of category management for Quorn Foods.
“We will be increasing our distribution even more, driving innovation into the category and placing more focus on promotional strategy. We will also be working with retailers to redesign the fixture.”
Exponent has already turned around the fortunes of both Quorn and Cauldron. Following an 8% slump in value sales in 2010, Quorn grew 4.7% to £119.7m last year, while Cauldron reversed an 11% decline to post a 12.1% uplift to £13.3m [SymphonyIRI 52w/e 29 October 2011].
Both brands have benefited from an increase in the number of distribution points over the past year, Quorn’s rising 6% and Cauldron’s 18.5%.
A packaging revamp was planned for Quorn this year to “improve visibility in-store and make the fixture easier to navigate”, Cooke said.
The revamp would be backed by a £7m TV ad push.
Focus on Meat-Free p59
Readers' comments (2)
Sarah Seabury | 17 Jan 2012 9:33
It is about time some investment was made in this product! Personally, I have found the quality on many of their lines to have declined in the last year. I have used it for many years, but am now questioning the value, palatability and appeal of many of their products.
We need more well managed, good quality, good value vegetarian products on supermarekt shelves, please don't let this well known brand disappear due to poor management and cost cutting.
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Quorn Foods | 31 Jan 2012 9:33
Hi Sarah. Just a quick post to answer a couple of the points in your comment.
Investment in quality and in the brand dramatically increased last year. In 2011 we invested £5m in the Quorn brand, up significantly from 2010 under previous ownership, and are planning to increase investment again to £7m this year.
Product quality scores are good and we aim to improve them even further. The 'best ever' sausage we launched last year was widely welcomed by consumers.
I do hope these facts address any concern over the future direction of the brand.
Quorn Foods
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