Blue Apron Makes a Comeback?
NEW YORK, NY - After a steady decline in stock value and loss of partnerships, Blue Apron may have seen a Christmas miracle unfold. The meal kit maker announced a new partnership with Weight Watchers (WW) Inc.
“The arrangement will help [the] company stabilize its customer count without having to spend tens of millions of dollars on advertising and promotions that have hurt its bottom line,” Blue Apron Chief Executive Officer Brad Dickerson said in a recent interview, according to the Wall Street Journal (WSJ).
While no financial details were released, Dickerson did confirm that Blue Apron will be paying WW Inc. resulting subscription fees from the partnership. The CEO hopes that this new angle on the meal kit market will help the company be more profitable in the coming year and rise above the penny stock threshold.
WW Inc. had attempted to work with meal kit provider Chef’d in the past, but saw difficulty in marketing the meals to the kit’s consumers. Though no success came from the previous meal kit partnership, WW Chief Executive Mindy Grossman has commented that she has “great confidence in the partnership with Blue Apron,” according to WSJ.
AndNowUKnow will continue to report on the development of Blue Apron’s latest meal kit attempt and how the market receives this new diet fad.