It's almost inconceivable that a brand with as many stores as PetSmart could be on the brink of collapse, but it's close. Many of us think of PetSmart the moment we need to go out and buy anything pet related, so what's the problem? We'll answer that for you; it's debt. As with so many other firms, PetSmart's debt has slowly built up to the point where it's become an issue. It currently stands at $8bn.
Although many of the debts don't need to be repaid until 2022 at the earliest, PetSmart currently lacks ideas as to how they might meet those repayments. They've called in specialist advisers to assist with restructuring the company, and also stepped further into the online marketplace as a response. Deciding the quickest route to success was to buy an established brand and run it themselves, they acquired Chewy. We don't think the $3.35bn price tag will have helped much with their bottom line though; according to Reuters, it's the most anybody has paid for a website in history.
For the past few years, we've been seeing more and more food halls dominate the retail industry. The craze has swept Los Angeles and New York by storm and is now making its way to Miami. In Magic City alone, ten of these food parks have opened just recently. The mania is even set to triple in size by the year 2020.
Now more than ever, more people have been adopting a vegan lifestyle. A survey in the United Kingdom reveals that 3.5 million residents have turned vegan, while 20 percent have at least tried the concept. People are now wanting to cut down on meat, and the food industry is giving in to the demand. Even wineries have started stocking up on vegan wines.
Due to increased awareness and desire to help the environment, companies have become more committed to eco-friendly food packaging. Previously, companies didnt care much about producing a ton of waste; but now, efforts to reuse, reduce, and recycle are much more apparent. For instance, PepsiCo has committed to creating completely recyclable packaging by the year 2025.
Who would have thought that young millennials would be into rum? These barrel-aged, small-batch rums are the latest trend in booze, and now even British companies such as Essexs English Spirit are joining in. The spirit is one of the most popular and versatile forms of alcohol, whether it be sweet or strong, dark or white, neat with ice or served with coke.
Nowadays, people have become more accepting of imperfection; when it comes to fresh produce that is. Imperfect Produce is just one of the grocery delivery companies that serve physically flawed fruits and vegetables. This effort is geared toward reducing waste, and the disfigured foods are often turned into hummus, crisps, and juices.
Various Asian restaurants have been popping up recently, and Sri Lankan cuisine is slowly making its way to the western palate. Sri Lankan dishes such as kottu roti, pol sambol, coconut relish, and hoppers, are being introduced to the market, and people are loving it. Unlike before, the Sri Lankan flavor is finally being recognized as an individual cuisine, separate from Indian food.