Meal-kit maker HelloFresh has launched its ready-to-eat (RTE) brand, Factor, in Europe, with initial rollouts in the Netherlands and the Flanders region of Belgium.
The move aligns with HelloFresh’s multi-tier brand strategy and will help unlock new customer segments and expand its total addressable market, the company noted.
Following the success of Factor in the United States and Canada, HelloFresh has decided to launch the brand in the Netherlands and Belgium due to the high penetration rate of e-commerce food solutions and a strong preference for convenience in these countries.
Thomas Griesel, co-founder and CEO of HelloFresh, said, "By launching Factor we are bringing a new healthy and ultra-convenient RTE solution to customers in the Netherlands and Flanders [...].
"Factor meals are convenient without compromising nutrition, freshness, or taste, and we are excited to offer consumers in the region this exciting new product."
About Factor
Factor offers a selection of 12 chef-prepared and nutritionist-approved meals per week, spanning the preferences of people following flexitarian, pescatarian, vegetarian, and keto diets.
Founded in the United States of America in 2013, Factor was acquired by HelloFresh in November 2020.
Since the acquisition, the company's market share in the US in the RTE segment has risen to 60% (Q4 2022).
HelloFresh’s brand portfolio – comprising meal-kit brands HelloFresh, EveryPlate, Chefs Plate and Green Chef, as well as RTE brands Youfoodz and Factor – allows customers access to food catering to various needs, occasions, and price points.
In 2022, HelloFresh launched Green Chef in the Netherlands, to cater to diet- and health-conscious consumers.
HelloFresh reported a 31.5% rise in its second-quarter core earnings, driven by operational efficiencies and controlled marketing spend.
