Starbucks founder bites into Pinkberry
The red-hot frozen yogurt chain gets a big boost from the man who brought you the $4 latte, reports Fortune's Matthew Boyle.
(Fortune) -- Red-hot frozen yogurt chain Pinkberry has received a $27.5 million infusion of cash from Starbucks founder Howard Schultz's venture capital firm, Fortune has learned.
The deal, which will be announced later today, confirms long-held speculation that Seattle-based Maveron - whose prior investments include eBay, drugstore.com, and Good Technology, now owned by Motorola - sees a bright future for Pinkberry, which was launched two years ago by a failed restaurateur and a former nightclub bouncer. (See story here.)
Schultz was not available to comment, but in a press release touting the deal he called Pinkberry founders Shelly Hwang and Young Lee "visionary entrepreneurs" and labeled their brand "a cultural phenomenon."
The burgeoning chain now has 32 stores in New York and Los Angeles, and plans to grow by expanding its roster of company-owned stores and franchises. Hwang and Lee told Fortune earlier this year that they hope to have 50 locations by year-end. Stores in Las Vegas and London are also on tap.
Pinkberry's tart-yet-sweet yogurt, topped with the customer's choice of fresh berries, granola, or even Fruity Pebbles cereal, has won it a cult following that includes celebrities like Salma Hayek and Paris Hilton. (Mike Tyson once demanded his cookies and cream topping on the bottom, and the staff wisely complied.) It's pricey - a large green tea with three toppings is nearly ten bucks - but Pinkberry's largely female clientele doesn't pinch pennies.
"I've seen people come in, order a small, eat it and then get right back in line for another," says Daihwan Choi, who has exclusive development rights in New York City.
Some toppings are not even on the menu, which only adds to the allure, and the minimalist décor features $350 Philippe Starck chairs and $250 Le Klint lamps. (Lee even secured a 10% volume discount from trendy furniture shop Design Within Reach on the lamps.)
"They really developed a look that helped create a cult factor," says Lesley Balla, editor of food blog Eater LA, who adds that top city chefs have worked frozen yogurt into their menus. "It's Whole Foods meets Jamba Juice meets Sephora," says branding consultant Nick Hahn.
But that winning formula has also spawned a slew of copycats, and Pinkberry will be hard pressed to clearly differentiate itself going forward. Of course, Schultz's investment should certainly help in that regard. Starbucks (Charts, Fortune 500) is much more about the experience than the overpriced product, so Schultz will likely aim to foster a similar unique environment at Pinkberry.
This is the first outside investment in Pinkberry, which had previously been funded by its founders. Hwang and Lee will retain "significant equity" in Pinkberry and work with Maveron to create an employee stock option program, according to the announcement.
(From Fortune Magazine Online: http://money.cnn.com/2007/10/15/magazines/fortune/boyle_pinkberry.fortune/?postversion=2007101606)
Wednesday, October 17, 2007
Monday, October 8, 2007
Hot Sundaes for Cooler Weather
Here's a great idea from Carvel Ice Cream, those folks slowly making their way out West with their innovative ice cream marketing approach (from QSR Magazine http://www.qsrmagazine.com/articles/news/story.phtml?id=5765):
New Hot Crunch Sundaes at Carvel
»Print2007-10-03 — Who says fall and winter are too cold for ice cream? Not Carvel®Ice Cream! Now through February 28, 2008, participating U.S. and Puerto Rican locations are offering two new Hot Crunch Sundaes to warm the hearts and taste buds of customers during the colder months.
The Hot Berry Crunch Sundae contains Carvel's vanilla ice cream, vanilla crunchies, and a warm mixture of berries, garnished with whipped cream and black raspberry drizzle, and served in a freshly baked waffle bowl. There's also a Hot Apple Crunch Sundae, which includes warm apples topped with caramel sauce and coated with Makara Cinnamon, the signature spice used in the world famous cinnamon rolls from Cinnabon Inc.
To further tempt customers, participating locations will also serve seasonal favorite hand-dipped flavors such as Harvest Apple Crunch, Pumpkin Spice and Eggnog, along with the return of the much awaited Cinnabon Ice Cream, which features Carvel vanilla ice cream mixed with white pound cake chunks and Cinnabon's signature Makara Cinnamon and cream cheese frosting.
"Blending our vanilla ice cream and crunchies with warm fruit and syrups in freshly baked waffle bowls makes for some uniquely delicious Hot Crunch Sundaes that are perfect for cooler weather," said Gary Bales, president of Carvel.
Why not add some cooler weather menu items to your menu this season? All you need is some creativity and a microwave!
New Hot Crunch Sundaes at Carvel
»Print2007-10-03 — Who says fall and winter are too cold for ice cream? Not Carvel®Ice Cream! Now through February 28, 2008, participating U.S. and Puerto Rican locations are offering two new Hot Crunch Sundaes to warm the hearts and taste buds of customers during the colder months.
The Hot Berry Crunch Sundae contains Carvel's vanilla ice cream, vanilla crunchies, and a warm mixture of berries, garnished with whipped cream and black raspberry drizzle, and served in a freshly baked waffle bowl. There's also a Hot Apple Crunch Sundae, which includes warm apples topped with caramel sauce and coated with Makara Cinnamon, the signature spice used in the world famous cinnamon rolls from Cinnabon Inc.
To further tempt customers, participating locations will also serve seasonal favorite hand-dipped flavors such as Harvest Apple Crunch, Pumpkin Spice and Eggnog, along with the return of the much awaited Cinnabon Ice Cream, which features Carvel vanilla ice cream mixed with white pound cake chunks and Cinnabon's signature Makara Cinnamon and cream cheese frosting.
"Blending our vanilla ice cream and crunchies with warm fruit and syrups in freshly baked waffle bowls makes for some uniquely delicious Hot Crunch Sundaes that are perfect for cooler weather," said Gary Bales, president of Carvel.
Why not add some cooler weather menu items to your menu this season? All you need is some creativity and a microwave!
Wednesday, August 22, 2007
The new "tart" yogurt craze
For those who have somehow missed all the hype created in Southern CA, the latest gold rush has begun and the new precious commodity is yogurt....plain yogurt. There are no fewer than 40 new yogurt shops with most now offering this tart flavor choice along with a new variety of toppings including fresh fruit, nuts and even a glutenous rice cake called mochi.
If you have been following this new craze, you're already familiar with names like Pink Berry and Red Mango who are on a major land grab in a race to win new fans of this yogurt. Although Pink Berry is involved in a dispute over whether or not it can call its product "yogurt", many are offering the bacteria-rich product that has found new popularity due to its "probiotic" properties. The latest in nutritional data suggests that probiotic cultures aid in curing so many of our current ills including digestive disorders, metabolic syndrome and general well-being.
Ok, so maybe you don't suffer from any of these problems. How about being fat free, lower in sugars (?) and generally more "healthy" than other, less tasty or refreshing snacks? Many report this new tart flavor to be a little tough to love at first, but then invoking a kind of addictive reaction that results in many having to satisfy their fix daily - thus the term "crack berry" as a reference to this addictive behavior. So addictive in fact, that sales numbers are reported to be in the 1500+ servings per day (@ $3-5 per serving!).
The alleged progenetor of this craze is Red Mango from none other than Seoul. Pink Berry got an early jumpstart and most of the credit for this movement, but Red Mango has come to town and is moving at lightspeed to overtake all competitors. Pink Berry's unlikely start from a failing english tea room to yogurt rock star was a lot of great timing and some plain luck. Frozen yogurt has been in a decline for the past 15 years and was due for a comeback. Many asians have been aware of the healthy benefits of yogurt and probiotic cultures so voila, here we are amidst the next great yogurt boom. I've even enjoyed a version of this treat atop a mound of shaved ice, topped with a delicious variety of sweet beans, mochi, fruit, soy bean
flour and fruit syrup, generically named "patbitsu" by my local Korean sweet shop.
Where can you find this new tart yogurt in the Bay Area? Try Harmony Yogurt in San Carlos, Fraische in Palo Alto, Mochii in Sacramento, Trendy Bean Cafe in Santa Clara along with some others in San Jose and Fremont coming soon. I'm sure there are many more too, so stay tuned.
If you have been following this new craze, you're already familiar with names like Pink Berry and Red Mango who are on a major land grab in a race to win new fans of this yogurt. Although Pink Berry is involved in a dispute over whether or not it can call its product "yogurt", many are offering the bacteria-rich product that has found new popularity due to its "probiotic" properties. The latest in nutritional data suggests that probiotic cultures aid in curing so many of our current ills including digestive disorders, metabolic syndrome and general well-being.
Ok, so maybe you don't suffer from any of these problems. How about being fat free, lower in sugars (?) and generally more "healthy" than other, less tasty or refreshing snacks? Many report this new tart flavor to be a little tough to love at first, but then invoking a kind of addictive reaction that results in many having to satisfy their fix daily - thus the term "crack berry" as a reference to this addictive behavior. So addictive in fact, that sales numbers are reported to be in the 1500+ servings per day (@ $3-5 per serving!).
The alleged progenetor of this craze is Red Mango from none other than Seoul. Pink Berry got an early jumpstart and most of the credit for this movement, but Red Mango has come to town and is moving at lightspeed to overtake all competitors. Pink Berry's unlikely start from a failing english tea room to yogurt rock star was a lot of great timing and some plain luck. Frozen yogurt has been in a decline for the past 15 years and was due for a comeback. Many asians have been aware of the healthy benefits of yogurt and probiotic cultures so voila, here we are amidst the next great yogurt boom. I've even enjoyed a version of this treat atop a mound of shaved ice, topped with a delicious variety of sweet beans, mochi, fruit, soy bean
flour and fruit syrup, generically named "patbitsu" by my local Korean sweet shop.
Where can you find this new tart yogurt in the Bay Area? Try Harmony Yogurt in San Carlos, Fraische in Palo Alto, Mochii in Sacramento, Trendy Bean Cafe in Santa Clara along with some others in San Jose and Fremont coming soon. I'm sure there are many more too, so stay tuned.
Wednesday, August 15, 2007
Frozen Yogurt - Facts about this new craze
What is Yogurt?
Yogurt is a cultured milk product, made by adding "good" bacteria to milk. These "friendly" cultures, L. bulgaricus and S. thermophilus, are what give yogurt its special properties. Similar to the making of beer or cheese, special organisms ferment and transform the milk sugar (lactose) into lactic acid, creating the distinctive flavor of yogurt. This process has been around for at least 4,000 years.
How Yogurt Benefits The Body
Many people eat yogurt for its health benefits, because yogurt is more than a delicious, nutritious food. The cultures in yogurt must be present in the intestinal tract of the human body to insure proper balance needed for digestion and good health. Yogurt with live, active cultures can:
• Help to overcome lactose intolerance
• Aid digestion of milk protein
• Help prevent and combat digestive tract infections
In recent research, other exciting effects have been observed and are currently being studied. They include:
• The possibility that yogurt can help boost the immune system
• An indication that yogurt may be useful in lowering serum cholesterol
• Yogurt's potential in the prevention and management of certain cancers
• Help to overcome lactose intolerance
In addition, yogurt is a good source of…
• Protein
• Calcium
• Potassium
• The vitamins B12 and Riboflavin
(from YoCream International website at http://www.yocream.com/cultures.php)
Yogurt is a cultured milk product, made by adding "good" bacteria to milk. These "friendly" cultures, L. bulgaricus and S. thermophilus, are what give yogurt its special properties. Similar to the making of beer or cheese, special organisms ferment and transform the milk sugar (lactose) into lactic acid, creating the distinctive flavor of yogurt. This process has been around for at least 4,000 years.
How Yogurt Benefits The Body
Many people eat yogurt for its health benefits, because yogurt is more than a delicious, nutritious food. The cultures in yogurt must be present in the intestinal tract of the human body to insure proper balance needed for digestion and good health. Yogurt with live, active cultures can:
• Help to overcome lactose intolerance
• Aid digestion of milk protein
• Help prevent and combat digestive tract infections
In recent research, other exciting effects have been observed and are currently being studied. They include:
• The possibility that yogurt can help boost the immune system
• An indication that yogurt may be useful in lowering serum cholesterol
• Yogurt's potential in the prevention and management of certain cancers
• Help to overcome lactose intolerance
In addition, yogurt is a good source of…
• Protein
• Calcium
• Potassium
• The vitamins B12 and Riboflavin
(from YoCream International website at http://www.yocream.com/cultures.php)
SmokaRoma's BBQ Boss at Pebble Beach
Many thanks to Brian Isaeff, Territory Manager at US Foodservice for his invaluable help in bringing our SmokaRoma BBQ Boss pressure smoker to the Pebble Beach Concours d'Elegance event. The staff at Pebble Beach are excited to test the unique pressure smoker at one of their most exclusive events.
Interest in the BBQ Boss spawned one morning last month, where we found one of the kitchen staff outside manning their outdoor smoker on a balmy Summer day. There was no doubt that the tender, succulent and juicy pork shoulders he was smoking would be outstanding. No, the issue was merely "was this going to be enough?" and "how are we going to make more, if we run out?". At 6-8 hours per batch, there's no opportunity to cook more that day, and what happens on rainy or unpleasant days outside?
Luckily, with Brian's assistance, we planted a seed that seems to have germinated perfectly. Why not use pressure cooking technology to improve product quality, consistency and cook times? When Chef Rod and Pebble Beach realized that he could cook 200-300 lbs of food in the SAME TIME as his other smoker took for 20% of that, it was a no-brainer. The BBQ Boss was immediately dispatched for this event, where we now await the rave reviews.
SmokaRoma's BBQ Boss is an electric pressure smoker that uses 220V, 30A power and is designed for use inside your kitchen without the need for a hood & vent system. It uses timed operation and can also cold smoke your fish, cheese or other items just to add some smoke flavoring. The BBQ Boss pressure smoker will smoke and cook 45 lbs of spare ribs in 90 minutes and will create some of the most moist, tender and delicious meats you've ever tasted. You can see more info at their website: www.smokaroma.com.
Interest in the BBQ Boss spawned one morning last month, where we found one of the kitchen staff outside manning their outdoor smoker on a balmy Summer day. There was no doubt that the tender, succulent and juicy pork shoulders he was smoking would be outstanding. No, the issue was merely "was this going to be enough?" and "how are we going to make more, if we run out?". At 6-8 hours per batch, there's no opportunity to cook more that day, and what happens on rainy or unpleasant days outside?
Luckily, with Brian's assistance, we planted a seed that seems to have germinated perfectly. Why not use pressure cooking technology to improve product quality, consistency and cook times? When Chef Rod and Pebble Beach realized that he could cook 200-300 lbs of food in the SAME TIME as his other smoker took for 20% of that, it was a no-brainer. The BBQ Boss was immediately dispatched for this event, where we now await the rave reviews.
SmokaRoma's BBQ Boss is an electric pressure smoker that uses 220V, 30A power and is designed for use inside your kitchen without the need for a hood & vent system. It uses timed operation and can also cold smoke your fish, cheese or other items just to add some smoke flavoring. The BBQ Boss pressure smoker will smoke and cook 45 lbs of spare ribs in 90 minutes and will create some of the most moist, tender and delicious meats you've ever tasted. You can see more info at their website: www.smokaroma.com.
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