Freshii

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Freshii
Public
Traded asTSXFRII
IndustryFast casual dining
FoundedSeptember 2005; 14 years ago (2005-09) (as Lettuce Eatery)
Toronto, Ontario, Canada
FounderMatthew Corrin
HeadquartersToronto, Ontario, Canada
ProductsBurritos
Salads
Wraps
Rice/Noodle Bowls
Soups
Frozen Yogurt
Websitefreshii.com
Freshii in Markham, Ontario

Freshii is a Canadian fast casual restaurant franchise that serves burritos, wraps, soups, salads, and frozen yogurt. It was founded in 2005 by CEO Matthew Corrin, and has since expanded to over 100 locations in countries including Canada, the United States, Colombia, Peru, Sweden, Austria, Switzerland, Ireland, and United Arab Emirates, with franchises under development in Germany, Guatemala, and Saudi Arabia.[1] As of January 2018, Freshii has 370 locations in North America, South America, and Europe.[2] By the end of 2019, the company expected to have 760 locations worldwide [3] In November 2018, that number was reduced substantially.[4]

History[edit]

Freshii was founded by Matthew Corrin in Toronto, in 2005.[5] At the time, Matthew Corrin was working under fashion designer Oscar de la Renta when he became inspired by New York delis that offered fresh food.[6] Originally called "Lettuce Eatery", the store opened to large queues and ran out of food on the first day before the end of lunch. In 2016, the company opened an average of 3.5 new stores per week and reached a total of 220 stores in 20 countries. Rapid expansion has also been seen in Latin America, with Colombia serving as the base of operations. As of 2015, Freshii hopes to open from 13 to 20 restaurants in Chile over the next decade. Restaurants have also been opening in Mexico, Guatemala, Costa Rica and Panama. The Latin American locations all feature the same core menu as Freshii outlets in North America and Europe, but also add several local or domestic ingredients. As of 2017, they're also planning on expanding into the U.K. market, as Freshii CEO and founder Matthew Corrin said in a statement that the United Kingdom is underserved when it comes to healthy fast-casual food offerings and the company believes there is tremendous opportunity to grow the brand in the region.[7]

In 2016, the chain introduced meal boxes at most locations which include breakfast, lunch, dinner, and two snacks.[8][9] The boxes are available in plans ranging from 1 to 30 days and focus on healthy eating.[10] In February 2019, Freshii announced plans to begin selling their pre-packaged meals inside of Walmart Canada stores.[11]

Freshii’s business activity is supervised by a seven-member board of directors that is chaired by Matthew Corrin. Board members include Adam Corrin (COO), as well as Michele Romanow, Marc Kielburger, Jeffrey John Burchell, Heather Briant, Neil Pasricha, William Schultz, and Paul Hughes[12][13]

Philanthropy[edit]

Freshii is an active supporter of many local organizations where they have operating locations. Globally, Freshii is an active supporter of WE Charity and meals are donated to children in need when certain meals are purchased by customers.[2]

See also[edit]

References[edit]

  1. ^ "Freshii". www.freshii.com.
  2. ^ a b Record, The. "Freshii goes public with ambitious growth plan". www.therecord.com. Retrieved 2017-02-05.
  3. ^ "Freshii aims to add 150 to 160 franchised restaurants this year". The Toronto Star. ISSN 0319-0781. Retrieved 2018-01-29.
  4. ^ "Freshii pumps brakes on rapid expansion plans after same-store sales decline | Financial Post". November 9, 2018.
  5. ^ Eng, Dinah. "Freshii's fresh take on fast food". Fortune. Retrieved 23 April 2013.
  6. ^ "Freshii - About". www.freshii.com. Retrieved 2017-01-28.
  7. ^ "Freshii plans expansion to U.K." The Toronto Star. ISSN 0319-0781. Retrieved 2018-01-29.
  8. ^ Taylor, Kate (6 February 2016). "This up-and-coming restaurant chain studied McDonald's, Starbucks, and Chipotle to take them down". Business Insider.
  9. ^ Nash, Kelsey (27 April 2016). "Restaurants get into the meal subscription game".
  10. ^ Leader Smith, Elizabeth (2 November 2016). "Healthy Fast-Casual Freshii Finally Heads to Mueller". Eater Austin.
  11. ^ "Freshii to sell food in grocery stores through Walmart Canada partnership". CTV News. 21 February 2019. Retrieved 21 February 2019.
  12. ^ Erlichman, Jon (2019-04-04). "Freshii's top shareholder backs founder amid stock slide - BNN Bloomberg". BNN. Retrieved 2019-10-16.
  13. ^ MarketScreener. "FRESHII INC. : Shareholders Board Members Managers and Company Profile | MarketScreener". www.marketscreener.com. Retrieved 2019-10-16.

External links[edit]