Full-range supplier Veganz exceeds own sales targets

In the first nine months of the year, the revenues of the specialist for plant-based foods rose by over ten percent. Above all Veganz could develop its market position significantly by introducing new products.

Veganz Group AG generated revenues of 19.4 million euros in the first three quarters of the  financial year 2020. This means that the first vegan supermarket chain founded in Europe has grown by 11 percent compared to the same period last year and confirms in a press release that the company has reached its sales target of 31.4 million euros. According to Veganz, the company exceeded its plans by two percent.

The specialist for plant-based food products has reported above-average growth of 23 percentage points, especially in the food retail trade in the DACH region, with a 68 percent share of sales. In the Berlin supermarkets of the vegan full-range supplier the turnover increased to approximately 2.3 million euros. Thus the turnover plan of Veganz Retail Berlin was overtaken by three percent and the previous year's turnover by about 19 percent.

New products strengthen market position

According to the Veganz announcement, in 2020 the company was able to expand its market position by introducing new products. These include a protein drink, protein bars, a cheese alternative with plastic-free film, and the pizzas Tricolore and Spinaci, with which Veganz claims to be the market leader in the frozen pizza segment among vegan manufacturer brands. For the Christmas business the enterprise plans to offer a vegan alternative to the roast duck in the conventional food retail trade.

Already in September, Veganz opened its first vegan cheese factory in Prenzlauer Berg, where an alternative to camembert is produced on a cashew basis. According to Veganz, another production facility is already being planned in order to meet the great demand for the product "Veganz Cashewbert".

By the resolution recently seized by the European Union parliament to further restrict the designation of vegan alternatives to milk products in marketing, Veganz does not see itself affected. The company only  "very rarely uses references to original designations" for their own product names, explains Veganz.

Strategic investments

For the future, the full-range supplier plans to make further investments. According to the press release, the "ongoing process of raising further equity capital" will be intensively continued, and declarations of intent from investors have already been received. Further stores are not included in the investment plans. "We are focusing on selling our vegan branded products internationally via retailers," the company announced in response to a request from organic-market.info.