- New meal plan offering includes three meals a day (breakfast, lunch and dinner) up to five days per week
- Model Meals brand is optimal for providing seamless customer experience, substantially increased customer lifetime value
- Move provides opportunity to explore subscription model with other HBIS components, says CEO
Home Bistro (OTC: HBIS), a leading online meal-delivery platform that offers exclusive celebrity chef-inspired, gourmet and lifestyle ready-made meals, is strengthening its commitment to offer exclusive celebrity-chef-inspired, ready-made meals by launching its first subscription-based offering for its Model Meals brand (
https://ibn.fm/9wDv9). The new plan offering includes three meals a day (breakfast, lunch and dinner) up to five days per week.
“We are excited to finally execute on a long-term strategic objective by establishing a subscription-based meal platform,” said Zalmi Duchman, Home Bistro CEO. “We believe the Model Meals lifestyle brand is optimal for establishing a sticky, recurring revenue model, which provides for a seamless customer experience and a substantially increased customer lifetime value. This also gives us an opportunity to explore the subscription model with other components of our business.”
Initially HBIS will offer the subscription-based plans in its southern California market, with plans to expand moving forward. Home Bistro acquired Model Meals in July 2021 in a strategic move to extend its food-production and fulfillment capabilities to the western region of the United States (
https://ibn.fm/0JwbH).
“This acquisition provides Home Bistro with major benefits on multiple levels,” said Home Bistro CEO Zalmi Duchman. “First, given our now bicoastal operations, we have the ability to ship overnight to most customers within the 48 contiguous states. Next, we acquired a lifestyle brand that has the potential for recurring revenue, subscription-based enrollment and potential for growth to the other 47 states from the current three. Lastly, we add tremendous talent to the Home Bistro management team with Camille, Danika and the senior staff at Model Meals.”
Home Bistro’s Model Meals lifestyle brand is a Whole30- and Paleo-approved, ready-to-eat, meal-prep service (
https://ibn.fm/RVPRO). The platform offers a weekly menu that rotates. Meal plans are prepared by professional chefs, using only the highest-quality ingredients available, which are sourced responsibly and locally, and delivered in sustainable, ecofriendly packaging.
The strategic movement by HBIS comes as a Mordor Intelligence study reports that the “the global ketogenic diet food market is projected to register a CAGR of 5.52% during the forecast period, 2022—2027” (
https://ibn.fm/cwJMh). The report notes that the global pandemic and the fact that “online health training websites and various social media platforms have been promoting to intake of healthy diets . . . has increased the consumption of keto-based food and beverage at a faster growth.”
For more information, visit the company’s website at
www.HomeBistro.com.
NOTE TO INVESTORS: The latest news and updates relating to HBIS are available in the company’s newsroom at
https://ibn.fm/HBIS
