UK better-for-you jam start-up Fearne & Rosie is aiming for its revenue to hit around £5m ($6.2m) by the end of its 2026 fiscal year.
Founder Rachel Kettlewell told Just Food that Fearne & Rosie is set to see 150% year-on-year growth in revenue in the company’s latest full financial year, which closes at the end of the month.
Kettlewell, who set up the business in 2019, did not provide a figure for its expected sales in its 2023/24 financial year set to wrap up next week.
However, she is forecasting revenue of “circa” £2m in the new 2024/25 fiscal year that will start in May and then around £5m by the end of the 205/26 period.
“There is a rapidly expanding demographic of customers who are interested in health, and they’re making choices [based on that principle],” she said, as the business seeks to become the UK’s market leader in the category.
“Our products initially started for children but the consumer research showed that 40% of Fearne & Rosie shoppers don’t have kids.”
Access the most comprehensive Company Profiles
on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Company Profile – free
sample
Your download email will arrive shortly
We are confident about the
unique
quality of our Company Profiles. However, we want you to make the most
beneficial
decision for your business, so we offer a free sample that you can download by
submitting the below form
By GlobalData
Kettlewell said the company is making changes to its packaging to ensure the products appeal to adults as well as the better-for-you trend is pushing consumers toward low-sugar options.
“We can see that the new packages will really refine that secondary market. Our primary market is families, secondary is health, and then the third is contemporary adults,” she said.
“There’s so many little, so many micro- and macro-trends across food that Fearne & Rosie is able to participate in. The fact that we are HFSS compliant and that customers are looking for lower sugar products. The fact that people are becoming more and more aware of good health and they want healthy fibres.”
Kettlewell said a new flavour will be added to the company’s super berries variety in September. “I think one of the things that Fearne & Rosie can do is provide innovation to the category.”
She suggested jam is a “really interesting category” in the UK, compared to honey and peanut butter, for instance, with Fearne & Rosie able to learn from innovation in the latter segment.
“One of the things we are focusing on is diversifying those usage occasions and showing that it’s not just jam on toast. Jam can be used in just as many exciting different ways.”
Earlier in April, the Hawes, North Yorkshire-headquartered jam maker secured wider UK distribution by launching into 407 Asda Stores with two SKUs. They are priced at £3.20 for a 310-gram jar.
The company’s goal is to accelerate growth across multiple sales channels, including broadening its wholesale offering. Current customers in the UK retail channel also include Ocado and Waitrose outlets in Yorkshire.
Kettlewell said the business is also launching into The Co-op next month from 20 May.
An export deal, the company’s first, has also been secured in Dubai with online grocer Spinneys, which will stock all five flavours: strawberry, raspberry, blackcurrant, cherry and “Superberry”, which is a mix of the first three.
Ireland is also on the cards, slated for September. Fearne & Rosie will then focus on that market, the UK and the UAE for the next 12 months rather than expand elsewhere.
“Our primary focus is the UK because we want to be one of the most-loved and trusted family brands. We need to really test and learn and make sure that everything is working the way we want it to within the UK before we look at rolling out any further,” she said.
Fearne & Rosie also supplies 40 cafes at UK broadcaster the BBC and will enter Center Parks holiday outlets in May.
“We want to build out our distribution, and then build our SKUs so that we’re growing in the retailers,” Kettlewell said, adding an aim is to “premiumise the category”.
