![]() ![]() ![]() COMPANY FOUNDED: 1999įreshDirect was cofounded in 1999 by investment banker Jason Ackerman and supermarket veteran Joseph Fedele. In this way, FreshDirect is able to offer higher quality perishables and enjoy a much lower spoilage rate than a supermarket. The facility is split into a number of sections where the optimum temperature for the storage and picking of different foods is maintained. Moreover, FreshDirect holds another advantage over supermarkets because its 300,000-square-foot distribution facility in Long Island City does not have to worry about shoppers. As a result, FreshDirect is able to compete with supermarkets on the price of basic goods. The company is able to cut out the middleman, buying directly from farmers and other producers, and uses its size and brand exclusivity to negotiate price breaks with manufacturers. Nevertheless, FreshDirect has built up a loyal base of customers. FreshDirect covers the staples -laundry detergents, paper products, and popular drinks -but it does not offer all the top brands or all the sizes. FreshDirect, on the other hand, offers 5,000 perishable products and 3,000 packaged goods, and three-quarters of its revenues come from perishables. A typical supermarket might carry 25,000 different packaged goods and about 2,200 perishable products, and sales are split 50-50 between package goods and perishables. Rather, FreshDirect focuses on the quality of the food and concentrates on higher margin items: fresh produce, fresh meat and seafood, baked goods, and prepared dishes. ![]() It does not, for that matter, even view itself as an Internet grocer. Unlike previous Internet grocery ventures, WebVan and, that failed in spectacular fashion, FreshDirect does not emphasize convenience, nor does it attempt to emulate a supermarket. Private Company Founded: 1999 Sales: $200 million (2005 est.) NAIC: 311991 Perishable Prepared Food ManufacturingįreshDirect, LLC, is a privately owned Long Island City, New York-based online grocer serving a large portion of metropolitan New York City, as well as select communities in Long Island, New York's Westchester County, and New Jersey. 23 –30 Borden Avenue Long Island City, New York 11101 U.S.A. ![]()
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