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The Christchurch couple behind a growing vegan empire are looking for capital to expand their business internationally, targeting the plant-based market in one of the world’s most enthusiastic adopters, Australia.
Founded in Christchurch in 2018 by singer Flip Grater and her husband, French chef Youssef Iskrane, Grater Goods has gone from $55,000 turnover to employing a team of 17 and on track to pass $1m in turnover this year.
It’s hoped the equity crowdfunding offer, which opens today, will raise $1.5m to fund increased production, research, development and marketing to bolster a move into Australia, the world’s second-fastest growing plant-based market.
“This will get our plant here in Ōtautahi up to scratch, so it has the capacity to keep up with demand here in Aotearoa and … into Australia.”
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The public equity approach aligns with the company’s kaupapa, Grater said, but they are also speaking with venture capital funds.
“The cool thing about that is that we can bring our customers along with us, reach out to our community and the people that have supported us and take them on the journey with us,” she said.
Local support has been strong from the start, growing and diversifying over time, she said.
“The fact we’ve grown this fast is entirely due to an incredible supportive base here.”
“At first it was the … vegan and vegetarian crew, then growing to a wider flexitarian market,” with a shift in clientele in the wake of the 2018 documentary Game Changer, which followed elite athletes using plant based diets.
JOHN KIRK-ANDERSON/Stuff
Musician turned vegan deli owner Flip Grater is launching an equity crowdfunding bid to raise $1.5 m to take her vegan goods across the Tasman (File photo).
“Our clientele switched from 80 per cent woman to 50/50 overnight, and we started getting a whole lot of people visiting from local gyms and that continues to this day.”
The appetite for plant-based products in Australia, combined with the sheer size of the market, made it the obvious next step, and strong demand on both sides of the ditch underscored “how forward-thinking, open-minded and sustainability focused New Zealand and Australian consumers are,” Grater said.
“I think that’s what has led this going from what was called a trend to now being an entire shift in the way consumers are shopping.”
Bloomberg scenario analysis from 2021 posits the Asia-Pacific region as set to dominate the plant-based protein market, with expected growth to $64.8 billion USD in 2030, part of a global market share of $162 billion.
Eve Simmance/Supplied
Christchurch company Grater Goods has gone from start up to plans for global expansion in five years.
Alongside wholesaling and online sales, the couple also run a vegan bistro and delicatessen in Sydenham, pairing their products with French and local wines.
Grater saw a gap in the market amongst the vegan sausages and burger patties.
“There was nothing inspiring, made for a special occasion or a platter, to have with a glass of wine.”
Demand stems from shoppers looking to occasionally swap out meat proteins for something less detrimental to the climate, and the company identifies these flexitarians as a key demographic alongside plant-curious foodies, and vegan and vegetarian consumers.
Dave Richards/Supplied
Grater says the combination of sustainable, healthier and “actually delicious” vegan meats and cheeses make the plant based options a “no brainer.”
She said the vegan meats and cheeses are not just more sustainable, but lower in fat, high in protein, cholesterol-free and “actually delicious”, leading her to the “ethical hedonist” tag.
“It makes it a bit of a no brainer decision at the end of the day.”
“It’s really about using ancient techniques, like the production of seitan or traditions like culturing cheeses, curing meats and using those same techniques with other beautifully sourced natural proteins.
“You still get that real richness, that umami, that funk, all of those things can be totally achieved with those techniques we already had – it’s not about reinventing the wheel, it’s just about subbing out the protein base.”
Grater has butchery in her blood, something she traces back to her grandfather’s butchery in Sunderland, England and beyond, though she is the first in the line of vegan butchers.
But pragmatism is more important than puritanism, she said.
“It’s not about sacrificing, it’s not about having a giant rant about the state of the planet and what we need to do about it and then forcing anyone’s hand – it’s about saying, look, this is a truly delicious option, and it’s also better for the planet, which one are you going to choose?”
“Each person gets to make their own decisions about what they do with their lifestyle and their choices every day with the resources they have, the ethics they hold, and the understanding they have about the world.
Grater acknowledged the tricky economic context – “it’s a difficult moment to be raising capital” – but said it made sense to invest in small business, “especially ones that are recession proof like treats.”
Grater Goods’ capital raising platform can be found here.
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