Just over a year after Mara raised £500k on Crowdcube, the Scottish based seaweed producer has announced that two of its products are to be listed in 400 of Morrisons' stores.
Despite filing accounts for YE Dec 2015 that show considerably larger losses than the Crowdcube pitch projections, the company now has a chance to crank up its sales and deliver on sales forecasts which we thought at the time were very optimistic. We have written quite a few posts on their CC raise which had some interesting quirks - http://fantasyequitycrowdfunding.blogspot.co.uk/search?q=+mara
Of course as anyone who reads this blog will know, getting a listing is just one foot in the door. As Righteous found out to their cost, being delisted is easier than falling over. Can Mara cope with Morrisons' consumers - price conscious and on the whole. well below the premium target that one might expect this product to be aimed at? It will be fascinating to see.
We will probably not get a good idea until September 2018 when their YE Dec 2017 accounts are due. It seems unlikely that Harrods, which is currently listed as one of just 100 places you can buy their products, will want to be associated with Morrisons' produce.
In the meantime hats are raised here for this achievement. We will certainly be buying some of their Furikake. After all, if we are wrong about them, then better to be eating their seaweed than our hats.
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