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Waitrose seals royal deal with Duchy Originals
by Louise Armitstead - 11/09/2009
"Waitrose has bought the exclusive rights to the Duchy Originals brand, the upmarket food range founded by the Prince of Wales. "
The supermarket chain, which is part of the John Lewis Partnership, has secured a licence to distribute and market the organic range throughout its 214 UK stores.
Duchy Originals, which was started in 1990, has struggled to grow in recent years because of a lack of investment funds and tumbling profits. Waitrose said it intends to "pump millions of pounds" into Duchy Originals over the next few years and expand the range from 200 products to 500.
Mark Price, managing director of Waitrose, said: "Duchy Originals will be our highest quality range."
Both sides denied the deal amounted to a rescue bid for Duchy Originals, which is expected to post a loss when it files its accounts for last year. Andrew Baker, chief executive of Duchy Originals, said: "Because of our constitution, and the fact that we are owned by a charity, Duchy Originals has never been able to build up reserves for investing in future growth. Instead, Duchy Originals has given all its profits to The Prince's Charities Foundation, but now is the time to make the next step."
Duchy Originals, whose profits will continue to go to charity, compared the deal to partnerships signed by entrepreneurs with big chains, such as Innocent Drinks with Coca-Cola and Green & Blacks, the organic chocolatier, with Cadbury.
Once lampooned for his advocacy of organic food, Prince Charles has used the development of Duchy Originals as an example of the demand for food from sustainable and responsible sources.
Mr Price said that the recession had delivered a strong uptick in demand for organic and upmarket brands as people who normally eat in restaurants stay in.
Last month Waitrose sales rose by 10.2pc, the highest growth among the multiple retailers.
More Details: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/6169883/Waitrose-seals-royal-deal-with-Duchy-Originals.html
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