That quarter the company was boosted by the early pandemic lockdowns that had Americans avoiding the grocery store and restaurants. "They are a supplement that allows for more time to cook by having that pinch-hitter solution."īlue Apron reported revenues of $124 million in the second quarter of the year, down about 5% from the totals in the spring of 2020. "These are not a solution for 'I don't want to cook,’" Kozlowski said. The Heat and Eat meals-soy-miso chicken and udon noodles with bok choy and mushrooms is one option-take five minutes in the microwave, whereas the typical Blue Apron meal requires between 25 and 45 minutes of prep and cooking time for a Blue Apron-seasoned home chef. The hope is that customers sign on for a couple of microwavable options along with the standard meal kits. "People were looking for solutions that you can deploy for these pinch-hitter moments, a day where either you need a quick lunch or maybe part of the family has soccer practice," Kozlowski said. There is a growing appetite for ready-to-eat meals, as exemplified by Nestlé USA’s purchase of Freshly, which makes microwavable meals, for $1.5 billion last fall. The new product is more of an add-on to address what customers say they want. That initial public offering was one of the weakest of 2017, however, and Blue Apron's market value now sits at just $90 million.ĬEO Linda Findley Kozlowski, who joined Blue Apron in 2019, said the company's mission has not changed. ![]() "That's why we named our company Blue Apron: Chefs around the world wear blue aprons when learning to cook," the company's 2017 IPO filing says. "To us, that apron symbolizes lifelong learning, a value that permeates everything we do."
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