Creating new brands for trends arising in the marketplace
Typically a player in the global marketplace with its huge, long-established brands, PepsiCo has decided to create an entity dedicated to developing new brands. They call it The Hive, and it will serve both to incubate some of PepsiCo’s current small brands and also to create new brands that play to trends arising in the marketplace. The move is a strategic one on PepsiCo’s part, and speaks to an issue that many huge companies are currently facing: consumers are calling for healthier foods and more often than not are turning to smaller brands to fulfill those needs.
Aligned with a mission to innovate
PlantBased Solutions COO Daniel Karsevar comments, “We are glad to see the progress being made by companies like PepsiCo with their creation of The Hive. This strategic move will allow them to take advantage of the flexibility and nimbleness of smaller scale brands, which can react quickly to the market. The days of sluggish product development that spans two to three years for large companies is becoming a thing of the past. As some big players develop their investment arms (like General Mills with 301 Inc.) to acquire smaller brands, more companies like PepsiCo and Tyson Foods Innovation Lab not only work with smaller brands in their portfolio but also incubate new ideas. We believe that innovation requires design and agile thinking to create an expedited process from ideation to launch – ideally within six months. We have done this work for a wide range of companies, from small startups to large Fortune 500 companies like Unilever and Uplift. The recipe for success is to get buy-in from the major stakeholders from the start. When everyone is aligned with a mission to innovate, and a dedicated team takes true entrepreneurial “ownership” of the brand, amazing things can happen.”
Incubating small brands with flexibility and agility within the plant-based market
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Make amazing things happen
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