Pret A Manger-
Global Sensibility, Organic Quality, Global Growth
Founded
twenty years ago by Julian Metcalfe and Sinclair Beecham, Pret
A Manger was the first to bring a global sensibility to food-on-the-go.
Today, Pret is thriving in the U.K., Asian and U.S. markets-bringing
its European-inspired, additive fee, preservative free, organic
food to countless customers.
Global
Growth
From "field to fork," Pret's organic food is driving
phenomenal same-store sales growth: 23% in the US, 10% in Hong
Kong 6% in the UK
Rapid US Expansion
Today, in the US market, Pret's plans to quadruple its New York
footprint-going from 11 food shops to 55 or more. And to build
upon Pret's tremendous US growth, future plans include expansion
into the Boston and Washington, DC markets.
Financial
Key Facts:
* 2006 worldwide revenue: $400,000,000
* 2006 US revenue:
$18,000,000
* 2006 worldwide
sales: up 13%
* Same store sales:
up over 23% in the US, 10% in Hong Kong 6% in the UK
* Pret will generate
expected EBITDA (excluding exceptional income) of $60 million
in 2007
* In 2006, Pret
opened 23 new shops, a 15% increase in the size of Pret's estate:
20 in the UK, 2 in Hong Kong and their first shop in Singapore
* Sales growth
and increase in number of customers in the U.S:
2005 2006 2007
20% 25% 30%
* Some of the food
shops in New York (including 135 W. 50th St., 11 W. 42nd St. and
530 7th Ave.) have increased the number of customers by over 100%
over the last 3 years.
* The shop on 39th
Street and 7th Ave is the busiest Pret in the world, the sales
per square foot/per hour are: $3683 per sq ft / Up to $5000 ph
* The expansion
plan calls for additional expansion in other cities like Washington
and Boston.
Company
Timeline
* 1986- Pret opened its first store London in 1986
* 2000- First New
York store was opened on Broad Street by the New York Stock Exchange
* 2001- McDonalds
acquires a third of Pret
* 2002- First Asian
store opened in Hong Kong
* 2009- Expected
openings in two new East coast cities (Washington DC and Boston)
* 2010- As a result
of the success of current New York stores, 40 more are expected
to open in New York
Food Key
Facts:
* Over 250,000 customers a day enjoy the benefits of eating healthy
gourmet food at reasonable costs (not to mention only having to
wait in line for 90 seconds to get their food to go).
* America's #1
favorite Pret lunch is the Cobb Salad while Brits favor the Super
Club
* Every Pret shop
has its own kitchen where fresh food is delivered and prepared
on a daily basis; you won't find any sandwiches that have traveled
by truck.
* Pret offers customers
all the details of the recipes so folks can enjoy it at home
* Organic, preservative
free, additive free. The finest restaurant quality, without the
wait
* Pret's juice
vendor has been making the company's juice for 5 years. He started
making OJ outside NY in Poughkeepsie for the first store on Broad.
He now employs five locals and his range has increased to 4 juices
and 2 smoothies.
* Ronnybrook makes
Pret's yoghurt on their small farm in upstate NY. Their happy
open grazing cows are all known to Rick the farmer by name.
* Pret's organic
chicken is marinated and grilled locally, it is then hand sliced
for every sandwich.
* Pret Chocolate
Brownie has changed 34 times. Each change is small but detectable.
That little extra often proves to be the greatest value.
* Pret's Fruit
& Oat slice is stirred by hand with a four-foot long oar.
Mechanical mixers would turn the mixture into a horrid pulp. Commercially
this makes sense but ruins the flavor and texture, so we don't
do it. Hand mixing adds a lot of work and cost but greatly improves
the flavor.
Sustainability
Key Facts:
* In 2005, Pret was the biggest donator of produce to City Harvest,
proudly donating over 90,000 lbs of all natural, delicious food
to hungry New Yorkers
* Packaging - The
Pret 'bio-box' was one of the first in the world and the new-style,
fully recyclable, biodegradable salad boxes have just been launched.
* Wherever possible
Pret buys 'slow' food- seasonable local produce. Pret is proud
of the food sold and have a thorough knowledge of the traceability
of all our ingredients and products from 'field to fork'. Pret
always consider organic, ethically traded, locally sourced and
sustainable food, insisting on high standards of animal welfare. |