KoRo keeps expanding and triples revenue in just one year

KoRo ships more than 4,000 parcels every day to a total of 16 EU countries and shows, with impressive growth figures, how much potential newly designed retail concepts have. Along with the expansion of its product range, KoRo is now also available in around 4,000 retail stores throughout Germany, launching online shops in 10 EU countries in 2021. By strictly sticking to its principles of quality, short supply chains, large packaging, fair prices and transparency, the company expects revenues of 65 million Euros in the year 2021. This is three times the amount KoRo achieved in 2020. The next big milestone: expanding offline concepts throughout the EU market, as well as selling its products in the US. This is, of course, only possible with an enormous increase in the number of employees. By the end of 2021, KoRo will have around 250 employees, compared to around 30 in early 2020.

Bringing KoRo to life offline

The year 2021 was also marked by KoRo’s offline expansion: on the one hand through the cooperation with retail partners, such as dm, Rewe, Alnatura, BUDNI, Müller and tegut, and on the other hand through new projects such as the building of an own delivery service, ice cream parlour and the expansion of the presence in weekly markets in Berlin, Hamburg and Hannover. In just one year, KoRo was able to secure a permanent listing in two of Germany’s leading retail chains, Rewe and dm. By the end of 2021, around 4,000 stores across Germany will stock KoRo’s bestsellers such as white almond butter and the chocolate and coconut bar. COO Florian Schwenkert explains why KoRo is moving away from large packages in the retail sector: “The move into retail is important for us, because we want to introduce KoRo to a new audience and enable the offline experience for our existing consumers. Smaller sized packaging and snacks are important in retail, especially for new customers, to be able to get to know KoRo’s products and our concept.”

Through a large selection of high-quality products at fair prices, special in-house creations, transparency and a humorous and customer-oriented social media communication, KoRo managed to build a loyal customer base. To make KoRo more accessible as an offline experience, CEO Piran Asci is constantly working on unusual concepts. New members of the KoRo family: KoRo Eis (ice cream parlour) and KoRo kocht (food delivery).

Chunks by KoRo, KoRo’s ice cream parlour, opened in Berlin-Kreuzberg in July 2021. Ice cream influencer Hannah Heinemann sells her out of the box ice cream flavours there, which are also made from KoRo products. KoRo kocht is an innovative delivery service cooking and delivering fresh meals. Franchise partners are currently being sought for Chunks by KoRo, the delivery service is expanding its territory, and a KoRo-Café is being planned, to open soon in Berlin.

New service for KoRo customers around the world

The online offer has also been constantly grown. Along with an enormous offer in terms of food-basics and more innovative products, KoRo also offers many non-food items. Currently, KoRo carries slightly over 1,000 products in the online shop, which should rise to around 1,250 by the end of the year. To be less dependent on suppliers and to be able to create new products even more independently, KoRo will also open its own nut butter production facility in Germany in 2021.

The expansion of the German online shop has also been accompanied by the launch in other EU countries. In 2021, KoRo added 10 shops, among others in Ireland, Sweden, Denmark, and Portugal. KoRo now has experience in quickly launching new shops, building a customer base, and retaining customers in the long term. This results in revenue increases of up to 400-500 % in just one year (comparing Jan-Jun 2020/2021). The leaders in terms of revenue growth this year are Italy (+546 %) and the Netherlands (+429 %). The country with the most orders outside of the DACH (Germany, Austria, Switzerland) area is France, with around 7,000 packages shipped to France every month. KoRo’s current objectives include further growth in more EU countries, among others Greece and the Czech Republic, as well as the step out of the EU and into North America.

Clever B2B solutions and special offers for KoRo customers

KoRo’s online shop should have the right products for everyone. With the new subscription box model, customers can get a mix of new products and KoRo classics, selected by KoRo’s sales team, delivered to their home every month, for €25 per box. The first 500 boxes sold in just a few days. KoRo is now also offering office boxes with selected products for companies. The largest customer so far was HP, with an order of 700 boxes for their employees. Another 2021 success story: express delivery within Germany. With express delivery, customers can get their KoRo package the day after ordering. Since September 2021, a fresh produce delivery service, KoRo fresh, also complements KoRo’s range of long-life products. Best of all: thanks to a well-designed ordering process, there are no extra fruit and vegetables left – the company is thus sending a clear signal against food waste.

Info

KoRo Handels GmbH is a broad-based food and technology company that is rethinking retail. By omitting trade stages, through streamlined processes and bulk packaging with a sleek design, KoRo makes high-quality food available to all at fair prices. The company pursues its vision of becoming Europe's leading supplier of food and goods by consistently implementing its five basic principles: quality, short supply chains, bulk packaging, fair prices and transparency. In doing so, KoRo brings producers and consumers together and customers closer to the product. The product range includes a wide variety of long-life, natural and processed foods as well as kitchen utensils, cooking accessories, natural cosmetics and hygiene products. KoRo was founded in Berlin in 2012 and developed by Constantinos Calios and Piran Asci. Florian Schwenkert joined the management team in 2020. KoRo now employs around 150 people. The products are sold both in the company's own online store at www.korodrogerie.de and at other retailers, both offline and online. The Social Chain AG has been a shareholder in KoRo Handels GmbH since December 2016.

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