The Evening Business Connections audience were treated to a revelation – there’s no need for expensive market research - Gü founder James Averdieck spoke of an ingenious piece of product testing, according to The Evening Standard.
The story goes that James filled an empty Gu box with stones, plonked it on a shelf in Waitrose on the King’s Road, and watched for 10 minutes before a woman picked it up and put it in her basket –market research done!
James loved the quality of chocolates in Belgian shops and was determined that sweet luxuries would fill a gap in the UK market. And he was right. Seven years after he launched Gu, he sold it for £35 million.
James’ new venture is The Coconut Collaborative, selling a healthy product made up of frozen and non-frozen yoghurts, in a range of flavours and stocked in Waitrose, Tesco and Itsu stores.
“By June we’ll be in France, by July we’ll be Australia and by November we’ll have launched in Germany,” he told The Retail Gazette.
Copyright Speakers Corner 2017