Monday, 30 May 2016

What is happening at Superjam?



We wrote about Suparjam's odd pricing policy here

http://fantasyequitycrowdfunding.blogspot.co.uk/search?q=+superjam

The Special Offer has gone but the pricing is still nonsense. Or it would be if their two main trade accounts, Waitrose and Ocado had any stock. Which they dont. So how come the Superjam website is still pushing people to them to buy the jam at a price 50% lower than their own website?

That's all very odd, as are the accounts just filed. Whilst we have to applaud Superjam for being one of the only companies to ever exceed their Crowdcube projections, we suspect this is not the whole story. Low stock levels and lower than anticipated debtors suggests that the company may have been trading at a much lower level than projected. A we dont get to see the turnover, so this can only be conjecture. Certainly the bank is still full of the cash they raised on Crowdcube.

We are sure Doherty stated he would be closing down the old Eat Super company but this has not happened yet.

Another very odd aspect of all of this is their branding. The main reason for the Crowdcube pitch was to create a new look brand with top end gift packaging. But the very name Superjam suggests a Woolworth style product and the new packaging just reinforces this.

All in all a very mixed message.

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