Chobani to expand offerings amid competition
Chobani plans to expand beyond its Greek yogurt cups this summer as it faces intensifying competition in the fast growing category.
Starting in July, the company plans to offer Chobani Oats, which is yogurt mixed with fruit and oats; a dessert called Chobani Indulgent and new flavors for kids.
Later this year, the Norwich, N.Y.-based company will also introduce savory dips, Chief Marketing Officer Peter McGuinness said in a phone interview. Chobani has been testing such offerings at its cafe in New York City's SoHo neighborhood.
The privately held company has grown quickly over the last several years, riding the surge in popularity of Greek yogurt, and is the biggest seller of Greek yogurt in the U.S. But competition has been increasing, with General Mills and Danone investing more heavily in their Greek yogurt brands. Whole Foods recently decided to stop carrying Chobani to make room for other Greek yogurt alternatives.
McGuinness said Chobani Oats will be company's first product specifically designed to compete in the breakfast category. He said it will be positioned to compete with "bars, cereal and oatmeal" rather than other yogurts. Although the oats will be mixed into the yogurt, he said they will be "al dente" and not "mushy." The cups will cost slightly more than its core yogurt cups at between $1.20 and $1.50.
As for the company's plans to raise capital to fund its expansion, he said executives are "still in discussions."
The six new innovations beginning June 2014:
- Bridging the breakfast gap between yogurt and oats, Chobani Greek Yogurt Oats is chilled, hearty and satisfying, with creamy, authentically strained Greek Yogurt mixed with real ripe fruit and whole grain steel-cut oats. In traditional flavors such as Banana Maple, Apple Cinnamon, Blueberry and Cranberry, the brand's first breakfast product is a cup of protein-, grain- and fiber-packed nourishment for those looking to start their day off right — Chobani's take on oatmeal.
- For people looking for a rich taste experience, Chobani Indulgent is the brand's first dessert product, mixing creamy full-fat Greek Yogurt with luscious all-natural ingredients in beautiful clear packaging for a decadent treat. Real cream, dark chocolate and ripe fruits meet in Dulce de Leche, Raspberry Dark Chocolate Chunk, Mint Dark Chocolate Chunk and Banana Dark Chocolate Chunk flavors — indulgence has never been so innocent.
- Made with only natural ingredients, no artificial growth hormones (rbst free) low-fat plain Greek Yogurt, real fruit, Chobani Kids is the delicious snack that packs the nutritional high protein, low sugar punch that moms want and new fun, finger-friendly packaging and new flavors that kids will love — grape, watermelon, vanilla chocolate dust among others—all about active enjoyment
- With a focus on flavor, Chobani Seasonal is an exciting seasonal twist to the core line – new, seasonally-inspired flavors that tap into trends and emerging tastes. The limited flavors will refresh each season, kicking off this summer with Watermelon and Pink Grapefruit — great fall flavors to come
- Building on the tremendous success of its recently launched natural 100-calorie yogurt, new blended flavors of Chobani Simply 100 Greek Yogurt in Key Lime and Pineapple Coconut will continue to deliver great-tasting, low-calorie options for weight managers looking for light yogurt made with only natural ingredients — the first ever and only 100 calorie Greek Yogurt using only natural ingredients.
- The introduction of 4% whole milk Chobani Kitchen inspires the chef in all of us and answers consumers' call, full-fat dairy products — delicious nutrition now available in a multi-serve format for recipes or a single-serve occasion — perfect for baking or on top of a baked potato, chile and fajitas.