What impact does a sudden delisting have on a small food and drink brand?“The impact has the potential to be catastrophic.” says Alexander. “Small food and drink brands don’t sit on large reserves of cash, nor can they afford large amounts of product wastage. If they have produced stock they were expecting to sell but don’t have the channels to sell them through, the resulting lack of liquidity could be severely detrimental.”Delistings: have supermarket product ranges shrunk for good?Adds Palmer: “It is not just the lost turnover that can cause a real problem for the supplier. It’s also the investment in the requisite workforce and the capex of machinery and tooling.”What actions can brands take immediately after a delisting?“This depends on a number of factors,” says Alexander. “If a delisting comes from a major retailer without reasonable notice, it may be against GSCOP guidelines and the brand will have the right to challenge the decision. I would encourage brands to check this immediately.“However with smaller, independent retailers, the reality is that there’s not much brands can do. In his case their primary focus should be to recover the income through alternative routes as quickly as possible and try to clear the stock they thought they were going to sell.”When thinking longer term, what should the next steps be?“Diversification diversification and more diversification,” says Palmer. “Supermarkets can be demanding customers in terms of delivery and pricing but they do offer volume. The demands they place can also make it difficult for suppliers to build a diverse customer base, but to do so is the only way to be able to withstand what will be a massive reduction in turnover if the brand is delisted.”Brands shouldn’t shy away from discussing the reasons behind the delisting with the retailer, according to Alexander.Guide for SMEs: How to nail your CBILS application in eight steps“Before you can move forward you must face the hard truth of what happened, whether it was due to poor sales, an inferior product or any other factor caused by the brand itself,” says Alexander.“Similarly, it might have been as a result of something completely out of the brand’s control and this changes the landscape entirely. If it is the former, it would be a strong signal for the brand to undertake strategic self-reflection and re-evaluate their proposition for the longer term. If it is the latter, sit down again with the buyer to understand how the climatic influences need to change in order to get the brand back on the shelf.”Is a delisting always a sign that a brand will go under?No.”A big question is the level of dependency of the brand on that retailer,” said Alexander. “If that customer represents 90% of the brand’s sales and they experienced a sudden delisting, it would be a high-risk situation for survival but even then there are still ways to build new routes to market if this can be done quickly. But if the brand has diversified its customer base and the percentage of dependency on the delisting retailer is more balanced against other retailers, or they have other SKUs still in play, they could weather the storm.”And consumer trends emerging from the pandemic don’t necessarily spell disaster either, according to Palmer. “On the one hand, the pandemic shows customers are relying more on traditional comfort brands but on the other hand, there’s greater willingness to try new products because people are cooking at home more.”Can brands get relisted? What’s the best way to start that process?“Absolutely they can,” says Alexander. “If the reasons for the delisting were within the control of the brand, they could come back to the buyer and demonstrate that they have taken the feedback on board, made crucial changes and show with confidence that they have resolved the problem.“For reasons outside their control, they should aim to maintain a good relationship with the buyer, reignite conversations and work together to monitor when favourable climatic conditions are on the horizon so that the brand is front of mind for relisting.”Palmer says a delisting creates the right opportunity for brands to diversify.“Keep an ongoing dialogue with the supermarkets but also explore other customer bases. Don’t be held to ransom or have your margins squeezed even further to secure a relisting.” Guide to SMEs_Article image_long,This is part of our free series, Guide for SMEs, which aims to provide practical, actionable advice for small food and drink brands affected by the coronavirus crisisWe know that the coronavirus has changed the world forever, so it’s perhaps unsurprising that it has also sparked dramatic changes to what’s on shelf in the supermarkets. As a result of the nation rushing out to panic-buy essentials, buyers have had to rethink their ranges and make drastic changes to ensure supply. As a result, many small suppliers are facing the loss of their supermarket listings.For some insight into what to do if you think your brand is vulnerable, we spoke to Julie Palmer, regional managing partner at corporate recovery specialists Begbies Traynor and Theadora Alexander, co founder of challenger brand community Young Foodies.
World renowned esports broadcaster Paul ‘Redeye’ Chaloner has signed a noteworthy deal with a new betting platform.Luckbox CEO Lars Lien and Paul ‘Redeye’ ChalonerThe respected host, presenter and commentator will work with esports betting startup Luckbox as an advisor and brand ambassador.Luckbox, which is due to launch later this year, is looking to become a leader in esports only betting, and it’ll retain a focus on ‘being fully licensed and community driven’. Redeye’s role will be to share some of his esports wisdom on how to enter the market and appeal to fans.This partnership is Redeye’s first with a betting company and, significantly, the deal is exclusive – Luckbox is the only company in the sector he will work with, making it quite a coup for the new platform. Redeye said of his new role: “Luckbox is a really exciting project and I’m delighted to be involved from this early stage. The team they have assembled is highly experienced and they are committed to creating a legitimate, and respected platform.“As esports grows in popularity, it needs professional and credible players to enter the industry to create the best possible experience for fans. I’m looking forward to sharing my thoughts and helping shape how Luckbox progresses from this point forward.”Luckbox will allow players to bet on titles including League of Legends, Dota 2 and CS:GO ‘in a safe and legal environment’.There is a comprehensive team involved with Luckbox including the likes of David Sargeant who has ample gambling industry experience. Other key members of the team also boast experience from the likes of PokerStars, Google, Gosu Gamers and Sony Online Entertainment. The company is also heavily involved in the brave new world of cryptocurrency, and has its own token known as LUCK. In terms of licensing, Luckbox informed Esports Insider that they are currently in the application process for an Isle of Man gambling licence. Luckbox CEO Lars Lien said: “We are thrilled to have Paul on board. He is hugely respected in esports and, therefore, is the perfect fit for us.“We want esports fans to know us as a trustworthy place to engage with their favourite games and working with Paul will help us convey that message.“Also, we are looking forward to his input into the project, not least the product. No one knows esports like Paul and his contributions to the direction of our business will be invaluable.”Esports Insider says: To date we’ve seen precious few big name ambassadors involved with esports betting brands with only Thorin partnering with ESP in June last year. This is commonplace with sports personalities, and there’s no reason it should be any different in esports. Best of luck to both Paul and Luckbox, and we look forward to trying the platform out ourselves.
MORE: Tiger Woods results from Round 3 of the U.S. OpenDespite not being one of those familiar names, Woodland was ranked 25th in the world coming into the third major of the season A former University of Kansas golfer, Woodland turned professional in 2007 and joined the PGA Tour in 2009. In 10 years on the Tour, Woodland has won three events, most recently at the 2018 Waste Management Phoenix Open in a playoff over Chez Reavie, who is also in contention this weekend.Entering his Saturday tee time, Woodland hadn’t bogeyed in 27 consecutive holes. Although not new on the Tour, excelling at major tournaments is a recent development for the Delray Beach, Fla., resident.Woodland recorded his first top-10 finish in a major last year at the PGA Championship after entering Round 3 with the solo lead. He was paired with Tiger Woods in the final round before fading to a tie for sixth place. At this year’s PGA Championship at Bethpage Black, Woodland finished tied for eighth. Before his 2018 PGA Championship performance, Woodland had gone 27 majors in a row without a top-10. In one of golf’s biggest tournaments of the year, at one of the most iconic courses in the world, and with every top golfer present, it would be natural to expect a leaderboard packed with familiar names.While this year’s U.S. Open does have a few of those golfers — Rory McIlroy and Brooks Koepka among them — at the top, no one was playing better entering Saturday than Gary Woodland, who held a two-stroke lead over the rest of the field at Pebble Beach. At this year’s Waste Management Open, a video of Woodland inviting Amy Bockerstette from Special Olympics Arizona to play the 16th hole went viral.Known as one of the longest hitters on the PGA Tour, Woodland averages 309.0 yards off the tee, good for 11th on the tour. He’s ranked 26th in the FedEx Cup standings and has three top-10 finishes this season. He has earned $3,108,907 in official winnings.