Amazon sets sights on new retail segment
By Deena M. Amato-McCoy - Jul 18th 2017, 09:06
The online giant has submitted a trademark application that will enable it to enter the meal kits business. The move will directly rival meal kit provider Blue Apron, according to CNBC.
According to a filing with the U.S. Patent and Trademark Office on July 6, the company registered a trademark for the slogan, "We do the prep. You be the chef." The slogan refers to "prepared food kits," composed of “meat, poultry, seafood, produce, sauce and seasonings" as well as "frozen, prepared, and packaged meals," which also includes salads, soups, grains, rice, noodles, pasta and bakery products, according to USA Today.
The filing comes on the heels of Amazon’s announcement in June that it plans to purchase Whole Foods for $13.7 billion. By making a play for the prepared food kits segment, the online giant is preparing to grab its share of the growing $2.2 billion meal kits business, USA Today reported.
This isn’t Amazon’s first try at meal kits. Though its Amazon Fresh service, shoppers can order fresh meal kits. However, this assortment is not branded, according to CNBC.
The announcement had an immediate effect on Blue Apron. First, the company garnered less-than-stellar interest upon announcing its initial public offering in late June (selling at $10 per share). Amazon’s trademark announcement took a toll on Blue Apron’s stock in early trading on Monday, July 17, when the prepared food kit provider’s stock tumbled more than 7%, hitting an all-time-low and dropping below the $7 mark, CNBC ’s report said.© 2017 Chain Store Age. All Rights Reserved
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