Luscious – the UK’s first chain of organic convenience stores and Europe’s first chain of low fat cafes – has announced it is seeking third round investment and is launching a global bid, keen to appoint brokers in the UK, USA and Australasia to achieve best deal.
The company was established 3 and a half years ago and includes 13 shops and cafes which have taken a unique niche position in the rapidly expanding UK health and organic markets.
Luscious Organic is the UK’s first chain of organic corner stores easy access to high quality organic product in a local corner store format with a juice and coffee bar attached. Luscious Organic is a hip not hippy organic retailer bringing organic into the 21st century. The latest research shows the organic retail sector is growing at 35% a year and was worth £1 billion last year. The convenience store sector is growing faster than the supermarket sector with more and more consumers visiting their convenience stores 5 times a week. Seventy five percent of organic produce is imported and Luscious Organic is also looking to import more product from Australia, the US and Canada.
Luscious Low Fat runs 11 cafes, including 9 within the Holmes Place Health Club Chain ( A PLC company) and in 2001 doubled its turnover. The Low Fat café chain provides the same organic juice and coffee bar as in the convenience stores but also provide a range of healthy option and decadent and indulgent product offered in a low fat fashion
Established in 1998 Luscious Ltd opened with one store. The company then took on £650,000 in equity-based investment at the start of 2000 with the deal to add another 6 stores to the chain. Instead investors got 13 units including a lateral integration of the Luscious Organic concept, a website and a book deal. Luscious the Low Fat Cook Book is being published in January by Ebury – an arm of Random House.
“We have more than doubled investor expectations and grown the company in a way no one expected. We’ve taken advantage of market niches and positioned ourselves as leaders in 2 areas – low fat eating and organic convenience stores,” said Co-Managing Director, Tony Guy.“Now because of demand to open more health club based cafes and more organic convenience stores the company has decided to seek third round funding,” said Mr Guy.
Luscious is seeking investors who have an interest in the industry or who can aid expansion plans. These plans include taking the company from 13 units to 40 within 2 years growing both the low fat café chain and the organic convenience store chain. The company is considering either a small number of large investors inputting 5-7 million pounds or a greater number of smaller parcels of shares for investments of between £50,000- £100,000. Luscious is also looking to develop a relationship with a company from the health food or low fat or organic sector which would like a foothold in the growing UK market.
“We feel there is also a chance to develop a synergy with other established companies both here and overseas. We have proven ourselves and our concepts and believe the correct partnership with one or a group of investors will allow the company to reach its true potential,” said Co-Managing Director, Alison Rose.
“The response to Luscious has been overwhelming. We get daily emails from people wanting us to set up in the USA, Australia, the Middle East, Asia and Europe. People who want to eat healthy love our decadent but indulgent low fat cafes and the growing market for organic product love that we have taken organic retail from hippy to hip,” said Alison.
Luscious was established when former TV anchor and reporters Alison and Tony arrived from Australia with an idea 4 years ago. They had £5000 each and the determination to make the business a reality. Now they have 13 stores, more than 80 staff and a turnover of more than one million pounds.
For further information call: Alison Rose on 07801663256 UK or calling from OS 44-7801663256 or Tony Guy on 07939146999 (UK) or calling from OS 44-7939146999 or email: Alison@luscious.co.uk or Tony@luscious.co.uk