More than a decade later, I look back at my last official employer before betting on myself with J. Either you had that big obnoxiously bright lime green MP in your kitchen cabinet, or you weren’t cool…it was as simple as that. This was during a time when that sports nutrition brand had literally caught lightning in a bottle. MEDIUM - is an interview-style segment that tackles topics in consumer packaged goods (CPG) and fast moving consumer goods (FMCG) from the business leaders that live it EVERY DAY! Many of you might know that I worked at MusclePharm in the early 2010s. What the heck am I talking about? The secret behind Quest Nutrition’s current innovation streak is rooted in remixing the past…its own past, well before most of its fans today knew about the brand. To put it another way…Quest Nutrition is DJ Khaled yelling at live performance in the 90s with the Terror Squad. Quest Nutrition is essentially Kanye West back in his doing 5 beats a day for 3 summers era. Once you acknowledge that, you start seeing things through a remix-filled point of view. So, what does Quest Nutrition have up it's sleeve next? In today’s business world, it’s hard to come up with an original thought.
But it’s that late point that I want to focus on because the Quest Nutrition innovation pipeline has been strong throughout the last few years and leadership on the earnings call alerted us that it remains robust. It’s on a roll from a distribution standpoint and recent innovations have been performing well. The brand’s core bar business is growing. In Q4 of fiscal 2022, both brands had outperformed their average peers in retail takeaway growth, with Quest Nutrition specifically having slightly less than 25% growth. In this latest episode, I'll utilize the 2022 Q4 Simply Good Foods Company (NASDAQ: SMPL) earnings report, earnings call, and supplemental presentations that were filed on as the backdrop to provide broad nutritional snacking market insights. I figured out the secret behind Quest Nutrition’s product innovation strategy and let’s just say they could easily be a headlining DJ at some of the biggest music festivals in the world.
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