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Marley Spoon today unleashed the lease agreement it has entered into for a new manufacturing centre in Dallas, Texas.
The lease incorporates 128,000 square foot site the location of which is well suited to support the companyâs two-brand strategy in the US. Marley Spoon intends to start the operations from new site in first quarter of 2019.Â
CEO of Marley Spoon Fabian Siegel on the announcement stated âThe company is excited to add this facility to its US operations in 2019, which will allow the company to capitalise on the strong growth at stable customer acquisition costs that it is experiencing in the US market. Marleyâs both US brands continue to gain traction with customers, and this fulfilment site will allow us to meet this growing demand.
Marleyâs two US brands include âMartha & Marley Spoonâ and âDinnerlyâ. Both the brands have together contributed to a 43% growth in companyâs US revenue during Q3 2018, and a 117% increase compared to the previous corresponding period (PCP).
This new site is increasing companyâs operational footprint in the Dallas region threefold with the ability to grow even further within the site over the coming years, said Mr. Siegel.
Recently, the companyâs Australian subsidiary Marley Spoon Pty Ltd inked a commercial agreement with Home Delivery Solutions for its last-mile chilled delivery services. Since Marley is experiencing a rapid growth in Australia, it has selected HDS as its refrigerated delivery supplier.
Home Delivery Solutions is a known Australian food logistics service provider covering 85% of the total population of Australia. The selection of HDS was based on pre-testing and its demonstrated high service levels and robust track record providing last mile delivery solutions.
Mr. Siegel stated that with the addition of logistics service provider to Marley Australiaâs business, the customers will receive fresh produce, ready to cook, straight to their door without any fuss.â
Founded in 2014, Marley Spoon is a subscription-based weekly meal kit service that services customers in three primary regions: Australia, United States and Europe (servicing Austria, Belgium, Germany and the Netherlands). As of 30 September 2018, Marley Spoon had over 173,000 active customers across both the Marley Spoon and Dinnerly brands.
Marley Spoon AG (ASX:MMM) got listed on Australian Securities Exchange in July 2018. Since its listing, MMM stock has witnessed a massive plunge of 59.83% and in the past one month the stock price has fallen by 39.24%. At the time of writing, 5 December 2018 (1:03 PM AEST), Marley Spoonâs stock is trading at $0.465, reflecting a daily price change of -3.125% or $0.015.
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