I received my email celebrating crossing the 100 million meals mark and this is a phenominal achievement. Sales in their most recent set of accounts hit almost £40M, up 180% on the year before. In the current economic climate, this is truly awesome. Considering the company was formed in 2012, this is a shining example of new starts making a great sucess of what they are doing. The increase in sales comes as huge surprise to me, given the young age of these products and several new starts competing with them. I wish I had thrown some money in the ring when Huel first emerged. Clearly, there is a huge and growing market for simple and nutritionally complete food like Huel.
Perhaps the time is right for customers to become stakeholders. I’m sure others would also be very interested in investing in Huel. I certainly am interested. Perhaps a new class of equity for customers could be considered? Perhaps even an IPO?
I would be very interested in what Julian or James think about attracting new investors into their company.