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Fri 1st Jun 2018 - Supper London receives significant investment from Taiwanese giant, latest foodservice inflation figures
Supper London receives significant investment and backing from Taiwanese giant: London-based premium food delivery service Supper has sold a substantial stake to PK Wang, the driving force behind Yi Fang, which has more than 600 stores worldwide and other Taiwanese brands coming to the UK. The initial investment will help spur growth for both Supper and the PK Wang brands in London and beyond. It will be used to ramp up operations, purchase new bikes, invest further in technology/staff and create a new dedicated headquarters. Wang said there were a great deal of synergies in the partnership and believed Supper’s “unique style of delivery set it apart from the rest of the generic players in the market and sees the future of delivery not just in being speed and technology, but how the actual last mile fulfilment is done”. He added: “I very much like the way Supper employs all its driver workforce and I think that makes a big difference for any supplier who cares about their product.” Supper, which has already been expanding into new areas in London recently, is also in talks to take its service further afield. Founder Peter Georgiou said: “We will onboard more than 100 new premium restaurants over the next 12 months. We have be in talks with stores and have firm commitment for advertising utilising our Supper screen technology. Everyone wants to be involved in delivery in one way or another right now and we have positioned ourselves at the higher end of the market to capture all that business. We aren’t interested in the fight to the bottom. Our customers already spend more with us than on other platforms with more than £57 per transaction, which underlines we are doing something right and we’ve gained their trust. Quality and service never go out of fashion and as last mile fulfilment becomes more prevalent, this focus sets us apart in a very crowded market. We don’t intend to be another cash burn tech business, we know our place in the market and we know how we are going to be profitable and I feel Mr Wang has exactly the same vision. We have been running very lean up to now and already very close to break even, so we are going to push on from here. The future looks very bright.”

Supply issues drive up foodservice inflation in fish, oils and fats: Supply issues are driving up inflation in key foodservice items including fish as well as oils and fats, the latest CGA Prestige Foodservice Price Index has revealed. The analysis of various food and beverage categories across the sector showed fish prices were 12.1% higher in April 2018 than 12 months previously. Inflation has been driven by poorer than expected catches of cod and haddock in the last few months, and increased demand from southern Europe. Salmon prices have meanwhile been pushed up by the strengthening of the Norwegian krone. The index, which provides subscribers with both overall and category level inflation numbers, revealed inflation in the oils and fats category was even steeper, with prices 27.9% higher than in April 2017. Supply has been damaged by severe dry weather in key production territories including the US Midwest and South America, with yields of both soybean and oilseed rape down. The relatively high price of crude oil has been another issue. The index showed volatility in prices has eased since the start of the year, but many items remain vulnerable to fluctuations in supply and demand. Prestige Purchasing chief executive Shaun Allen said: “We are continuing to see headline grabbing numbers from oils and fats, and numerous other categories are showing definite upwards trends. Many crops are feeling the effects of the poor winter and higher oil prices are starting to hit farmers. Businesses would be well advised to secure pricing now before further increases are seen, especially in dairy, which looks likely to rise in the near future.” Fiona Speakman, CGA client director – food, added: “Our latest index spotlighted the mounting inflationary pressures on important items such as fish, oils, and fats. Overall, we have seen inflation ease from the highs of 2017, with reassuring signs of stability in currency exchange rates and Brexit negotiations – but the steep year-on-year rises in these categories is a reminder of the need to stay vigilant. Understanding the nuances of foodservice price inflation is going to be essential for any business seeking to grow in this competitive market.” The CGA Prestige Foodservice Price Index is jointly produced by Prestige Purchasing and CGA, using data drawn from more than 50% of the foodservice market and about 7.8 million transactions per month.

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