Albertsons Companies has announced its second annual Innovation Launchpad competition, an event geared towards finding emerging food, beverage, and pet products. As part of a separate program, Wakefern has also announced plans for its Own Brands CraveCon ’24 Indulgent Snacks Summit, the objective of which is to source unique private-label products.
Independent specialty and natural food brands with between $2 million and $8 million in net retail sales are encouraged to apply to Albertsons' competition by Jan. 19. Winners will compete live in California on March 12.
“The inaugural Albertsons Cos. Innovation Launchpad competition was such a fun, engaging, and lively way for us to connect with new brands, and we had a tremendous response from entrepreneurs hoping to have their products spotlighted,” said Jennifer Saenz, EVP and chief merchandising officer at Albertsons Cos, in a statement. “We are so excited to host this event once again. The competition not only opens doors for these emerging brands but also gives us the opportunity to discover new, innovative products for our customers.”
As part of the competition, 50 applicants will be chosen to present their brands to a panel of judges. The products should reflect areas such as functional beverages, hydration, low sugar or carb, high protein, global flavors, healthy snacking, healthy prepared meals, and premium pet items, according to the retailer. Three winners will receive prizes valued at more than $300,000 total, including cash and industry services.
The top brands selected in this year’s competition will also be considered for distribution in Albertsons Cos. banner stores including Albertsons, Safeway, Jewel-Osco, Shaw’s, ACME, Pavilions, Kings Food Markets, Balducci's Food Lovers Market, Market Street, and Haggen.
With its competition, Wakefern intends to source on-trend and innovative snack products that would be sold under in the Bowl & Basket and Wholesome Pantry store brands lines.
The retailer is seeking submissions for snack options that include but are not limited to cookies, brownies, salty snacks, crackers, meat snacks, snack nuts, seeds, dried fruits, salsa/dip, snack cakes/pies, snack bars/bites, nut butters, jams, baking mixes and ingredients, cereal, and granola.
“We are excited to expand on the success of our Own Brands Supplier Summit with a fun focus this year on treats,” said Bryant Harris, chief merchandising officer at Wakefern, in a statement. “We’ve enjoyed success in the snack category, including with our award-winning private label Bowl & Basket potato chips, and we are excited to expand the snack category with even more delicious and decadent options.”
Certified private label manufacturers and suppliers are encouraged to apply on RangeMe by Jan. 29. The summit will take place in early May.
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