Plated Meal Kits emerged as an innovative player in the meal kit delivery market, captivating food enthusiasts with its unique approach to home cooking.
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Table of Contents
What are Meal Kits?
Meal kits are pre-packaged food delivery services that provide customers with pre-measured and partially prepared food ingredients and recipes to prepare home-cooked meals.
Origin of Plated
Founded in 2012 by Nick Taranto and Josh Hix, Plated aimed to make home cooking accessible to everyone. The company quickly gained traction, raising $56 million in funding and serving millions of meals across the country.
Plated Meal Kits
Plated’s concept of delivering fresh ingredients along with easy-to-follow recipes directly to customers’ doors appealed to a wide audience. It became especially popular for offering diverse cuisine options and flexibility in meal planning.
Plated on Shark Tank
Plated’s appearance on “Shark Tank” in 2014 was a significant milestone, where it secured an investment from Kevin O’Leary. This exposure boosted its sales and visibility in the meal kit market.
Acquisition by Albertsons
In 2017, Albertsons Companies acquired Plated for nearly $200 million, intending to expand into the meal-kit market. This move aimed to bring Plated’s offerings to a broader customer base.
Transition to an In-House Brand
Albertsons transformed Plated from a subscription service to an in-house culinary brand, integrating it into their own brands portfolio. This shift marked a new chapter in Plated’s business model.
Challenges and Market Shifts
Despite its initial success, Plated faced challenges, including competition in the meal kit industry and changing consumer preferences. The company ceased operations in November 2019.
The Current State of the Meal Kit Industry
The meal kit industry continues to evolve, with companies navigating challenges like customer retention and competition. The concept remains popular, offering convenience, variety, and healthful options to consumers.
Conclusion
Plated Meal Kits’ journey in the culinary world represents the dynamic and competitive nature of the meal kit market. Its story is a mix of innovation, strategic shifts, and market challenges.
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FAQs about Plated Meal Kits
- What was the concept behind Plated Meal Kits? Plated offered meal kits with fresh ingredients and recipes for home cooking.
- How did Plated gain popularity? Plated became well-known after appearing on “Shark Tank” and securing an investment.
- Who acquired Plated and why? Albertsons acquired Plated to expand into the meal-kit market.
- Why did Plated cease operations? Plated stopped operations due to market competition and shifting business strategies.
- What is the legacy of Plated in the meal kit industry? Plated is remembered for its innovative approach to home cooking and its impact on the meal kit market.
