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Summary
- Petco has confidentially filed for the IPO in the US, details of which like number of shares to be issued and price band have not been decided yet.
- Petco is a big name in the retail pet food and products space, offering a wide range of products for dogs, cats, birds, reptiles and other exotic animals.
- It is the first national retailer to completely restrict animal food with artificial ingredients to be sold, in sync with its raised food safety standards.
- The company entered a strategic partnership with Jinx Dog Nutrition last month to bring Jinx’ nutritional dog food to its online platform.
- Jinx is a newly found company and backed by celebrity investors like Will Smith, Hasley, Nas.
Petco Animal Supplies Inc has announced its intentions to go public in the US after having submitted a registration form S-1 to the US Securities and Exchange Commission (SEC) for the review. However, the IPO is still in its initial stages, and the total number of equity shares and the price band have not yet been decided.
Petco is a stand-out name in the pet food and products industry which owns and operates more than 1,500 pet stores across the U.S, Mexico and Puerto Rico, giving it a robust physical presence apart from the online channels. During the coronavirus pandemic, the company’s business coming from physical stores took a hit, but its online presence helped a lot to keep the company afloat.
The company’s offerings of pet food and products are not limited to dogs and cats, but also have a wide range of products for birds, fishes, reptiles and other exotic animals. Some of the top-selling brands of the company are Taste of the Wild, Sojos, Whole Hearted etc.
Petco enters a strategic partnership with Jinx Dog Nutrition
Last month, the company announced the launch of a strategic partnership with Jinx Dog Nutrition to bring Jinx’ high-quality dog food to its online platform. This move is in sync with the company’s focus to increasing its online presence, which has seen a growth of more than 100% according to Petco’s Chief Digital and Innovation Officer, Darren MacDonald.
The company’s expanded digital services include various options ranging from buying products online to pick up in-store to curbside pick-up. These options are truly delivering an omnichannel shopping experience for guests.
Jinx backed by celebrities like Will Smith, Hasley
Jinx is a buzzing company in the pet food industry, founded recently in January 2020. The offerings and the company’s vision have also become popular amongst some celebrities like Will Smith, Nas, Halsey and have already attracted them as their investors.
It offers a full range of ready to eat nutritious consumables for the dogs that also make the life of the pet parents easier. The brand currently offers treats, kibble and dog sauces.
The first national retailer to say no to artificial ingredients
Last year, Petco revamped its nutritional and safety standards and announced that it would no longer sell food products with artificial ingredients. The company is working closely with the vendors to introduce new formulas to ensure the safety standards are being met.
It is also consulting a host of industry experts, veterinarians, nutritionists and referring to the FDA guidelines to understand opportunities and challenges tied to implementing the newer safety standards.
