Meal kit retailer Gousto has announced plans to hire 1000 new staff and open two new distribution warehouses as it celebrated its first year of profit since launching in 2012.
Gousto saw revenues skyrocket 129 per cent to £189 million in the 12 months to December 31 as the pandemic helped the retailer capitalise “on the biggest trends in grocery”.
Throughout the year the “meal-in-a-box” retailer doubled its workforce to 1000, and said it plans to double that number again by the end of 2022 by opening new fulfilment centres in Essex and Cheshire.
Gousto was able to expand its capacity throughout the year, selling 53 million boxes, by using algorithms to predict supply needs of its customers, also helping reduce food waste by two per cent.
This helped it achieve its first year of profit in nearly a decade, posting underlying earnings of £18.2 million, up dramatically from the £9.1 million loss it made a year earlier.
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“2020 was a transformational year, but we’re only scratching the surface of the huge opportunity ahead,” Gousto founder and chief executive Timo Boldt said.
“500 million evening meals are eaten each week in the UK and 76 per cent of people cook from scratch.
“Gousto is working to unbundle the evening meal from the traditional grocery supply chain. We use software to upgrade both the supply chain and the customer experience of cooking from scratch, while riding the permanent structural shift from offline to online.
“This is just the beginning and I’m incredibly excited about the journey our amazing team is embarking on, which will see our customers benefit as we fulfil our vision to become the most loved way to eat at home.”