First organic food chain on Britain’s high streets Planet Organic planning to double its number of outlets
- Chairman Ben Thomson: ‘We are in talks over four potential locations’
- Planet Organic was started in 1995 by Mississippi-born Renee Elliott in London
- Turnover saw an 8 per cent increase to £35.1million in the year to 31 August 2021
Supermarket chain Planet Organic has announced it will double the number of stores it has in the next few years.
The health food company says the increasing popularity of ethical and sustainable products has helped it to overcome problems affecting the high street.
It now plans to open a minimum of ten stores by 2025, taking the total number of its sites to 18.
Planet Organic recently wrote: ‘If the High Street is to thrive in future it needs to provide shoppers with experiences. We believe Planet Organic provides shoppers with experiences’
‘We see a retailer like ourselves being a strong part of the high street offering for many years to come,’ said company chairman Ben Thomson.
‘We are in talks over four potential locations at the minute. We don’t know if these will all come off, but there is a clear appetite from landlords to bring in our stores.
‘Christmas was good for us and January has started really strong as well, so we have a great platform for 2020.’
Planet Organic kicked off its expansion plan in August last year with the opening of a new site in Queens Park as it continues to focus on family-oriented London locations to deliver success.
It received investment from Scottish private equity firm Inverleith three years after it had opened up its last store on Tottenham Court Road.
In its most recent annual financial report, Planet Organic admitted: ‘It has not been an easy time for high street retailers in the last year.’
Turnover saw an 8 per cent increase in the year to 31 August 2021 to £35.1million, with herbs showing a 50 per cent rise due to higher CBD sales
It blamed Brexit uncertainty and changing consumer habits for retailers’ woes. It said shopping needed to be more personal in future if it is to remain strong.
‘If the High Street is to thrive in future it needs to provide shoppers with experiences. We believe Planet Organic provides shoppers with experiences.
‘We believe Planet Organic provides shoppers with a great experience which is why 65 per cent of all our customers shop in our stores at least once a week.’
Turnover saw an 8 per cent increase to £35.1million in the year to 31 August 2019, with its herbs category rising by 50 per cent due to higher sales of CBD products.
The organic food sector was valued at £2.33billion in 2018, its highest ever value. The fastest rise was among beer, wine and spirits according to the Soil Association
Its large health and bodycare division, which comprise about a quarter of sales, saw a 14 per cent growth in like-for-like sales while toiletries rose by 18 per cent.
But the company posted a pre-tax loss of £655,000 compared to £155,500 the year. It says the majority of the loss was due to new investment costs it incurred.
Planet Organic was started in 1995 by Mississippi-born Renee Elliott as Britain’s first organic food store.
It was ahead of its time in providing an organic juice bar, fresh wheatgrass, and a sustainable fish counter in the its shop.
An early proponent of organic farming, Prince Charles, is a celebrity fan and spent 45 minutes in the firm’s flagship Westbourne Grove establishment in 1999.
Since that time, the organic food sector has grown inexorably and reached £2.33billion in 2018, its highest ever value. The fastest rise was among beer, wine and spirits according to the Soil Association.
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