BERLIN (dpa-AFX) – Less than a year after the start, the recipe box mail-order company HelloFresh withdrew from its first Asian market, Japan. “The first few months in Japan have shown that there is currently no market environment that would have justified additional growth financing,” said a spokeswoman on Wednesday in Berlin when asked. The branch was therefore closed at the end of last year. There had previously been speculation about this decision.
Instead, Hellofresh wants to focus on its other markets, it said. In addition to its home market of Germany, the company is active in many European countries as well as the USA, Canada and Australia and supplies ready-made meals in addition to cooking boxes. Japan was considered a test run. “It is definitely our plan that we want to learn more about the Asian markets and how our products are received there,” said CEO Dominik Richter at the beginning of March last year. However, the manager always kept a low profile when it came to Japan.
Jefferies analyst Sebastian Patulea rated the decision positively. The management wants to keep the funds together. Investors in particular have recently been looking primarily at profits – Japan would have needed several more years to become profitable, the expert recently wrote./ngu/men/jha/
Leverage must be between 2 and 20
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