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The company, which is only a couple of years old, currently makes peanut-free peanut butter spread, cocoa-free chocolate and coffee-free coffee. The idea is that these are some of the most popular foods in the world, but they all carry their own allergen, environmental and political baggage. CEO Adam Maxwell joined the Modern Retail Podcast this week and spoke about Voyage\u2019s trajectory.<\/p>\n
Voyage is different from other brands for a few reasons. For one, it isn\u2019t targeting wealthy consumers looking for food alternatives. Instead, it is making competitively-priced products in the hopes that it can reach the masses.<\/p>\n
\u201cThe people who need food tech and these kinds of food tech solutions aren\u2019t rich white people in San Francisco or New York City,\u201d Maxwell said. \u201cIt\u2019s the parts of the world that can\u2019t afford the real thing.\u201d<\/p>\n
That is, cocoa and coffee are expensive commodities and Voyage thinks it can replicate its flavor more cheaply.<\/p>\n
Voyage first started out online, but just launched in Sprouts supermarkets a few weeks ago, and is hoping to continue expanding its retail footprint. But Maxwell said the real business plan is to focus on B-to-B. He hopes to partner with large CPG brands who want to expand their flavor offerings in more sustainable and allergen-friendly ways. For example, an ice cream company could partner with Voyage on a peanut-flavored ice cream that people with peanut allergies can enjoy.<\/p>\n
Grocery, he said, is a way to initially build the brand. \u201cRetail is a small function of what this business will be,\u201d he explained. \u201cIt\u2019s the easiest, fastest way to get to market.\u201d<\/p>\n
The company is still small \u2014 it raised a $36 million Series A last May. But it hopes to ink key partnerships to continue its growth in the coming hear, with the plan to become a CPG powerhouse.<\/p>\n
\u201cWe\u2019re bringing our next facility online, around this time next year,\u201d he said. \u201cWe\u2019ll have around 100 million pounds of annual capacity.\u201d<\/p>\n
Here are a few highlights from the conversation, which have been lightly edited for clarity.<\/p>\n
Voyage\u2019s target demographic<\/strong> The B-to-B strategy<\/strong> Voyage\u2019s approach to retail growth<\/strong>
\u201c[Rich white people] don\u2019t need food tech, they\u2019re always going to eat well. And I think these kinds of tech solutions really have to be for the less affluent, because that\u2019s where we\u2019re going to make the biggest impact. You know, America buys 50% of its food at Walmart\u2026 hopefully Walmart is soon in our journey. We want to be where the masses are \u2014 because that\u2019s where you\u2019re gonna make the most impact, not [with] the 1%.\u201d<\/p>\n
\u201cWe\u2019re really mainly focused on the B-to-B ingredients supply. Retail is a small function of what this business will be. It\u2019s the easiest, fastest way to get to market. but if we think of our product offerings, and how can Voyage Foods make the most impact, it\u2019s not necessarily us building the biggest brand. Think about [how] Lindt chocolate, for example, has no peanuts in any of their products in any of their facilities. How do we help them get incrementality and introduce America\u2019s favorite flavor to one of America\u2019s biggest chocolate companies? How do we help these large manufacturers with their ESG numbers and margin profiles by selling them lower-cost, climate-friendly chocolate? I\u2019m not going to speak to when you\u2019ll see our products \u2014 the coffee and chocolate \u2014 in retail. But you will start seeing it next year kind of co-branded, etc in other food CPG, food service and other food products.\u201d<\/p>\n
\u201cWe didn\u2019t want to launch nationally with a major national retailer without a lot of sensory data \u2014 reviews, feedback, etc. And we really used online as you \u2018do people liked these products? Do they actually taste and test better than everything else on the market? Is there repeat purchase? Do people understand what the brand is?\u2019 And, from there, it was.. let\u2019s talk to some retailers and go for it. And so I think, transitionally-wise\u2026 I would love to come and say this was some David and Goliath story, and it was really hard to get into retail and we\u2019ve had all these issues. But, I hate to say it, for better for worse, that\u2019s not true. And I think it\u2019s just been kind of a linear path of we got there, we have distribution. And it\u2019s so early we don\u2019t have velocity data yet.\u201d<\/p>\n<\/div>\n