Get the full story at thegrocer.co.uk 20 July 2019 | The Grocer | 52018 winner Tom Benn, account manager at Pip & Nut,
picking up his trophy from editor Adam Leyland
Planet Organic is set to open its new store, in Queen’s Park, London, in early AugustEntries open for sixth year of Top New Talent Awards
Entries are now open
for the Top New Talent
Awards 2019.
Now in their sixth year,
the TNT Awards, spon-
sored by Veritas Partners,
aim to celebrate the best
and brightest young tal-
ent working across the
UK grocery and foodser-
vice sector today.
Winners will join a
prestigious alumni of
more than 150 people,
many now occupyingPlanet Organic seeks stock
‘contributions’ for new store
Daniel Selwood
Planet Organic is asking
its suppliers to help fund
the opening of its new
north London store – in
spite of recently secur-
ing a major cash injection
from private equity.
The retailer is set to
open its Queen’s Park
site in early August and
has written to its listed
brands to ask for a dona-
tion of stock to cover the
first month’s sales.
The letter from Planet
Organic buying direc-
tor Al Overton, seen by
The Grocer, begins by
acknowledging the deal
last October with con-
sumer brands investor
Inverleith for an esti-
mated £15m.
The funding would
drive ‘a store expansion
plan with the ambition
of driving Planet Organic
from a seven-store busi-
ness with a turnover of
£30m to a 19-store busi-
ness turning over £90m
within the next five
years’ it says.
It goes on: ‘Opening a
new store is an expensive
business, and to make
our investment go as far
as possible, to open as
many stores as possible,
we are asking our brands
for a contribution to the
new store.’
It adds: ‘We hope you
will see this as a worth-
while investment in yourbusiness, and we look
forward to growing your
brand at Planet Organic.’
The retailer’s request
was neither unusual
nor a mandate from
Inverleith, Overton told
The Grocer. “As with
every time we’ve opened
a store in the past, we
are talking to our supply
base for a fairly modestcontribution to the open-
ing cost. We try to make
that as easy and as man-
ageable as possible.”
The “vast majority”
of brands were happy
to make a contribution,
he said. “We have also
explicitly told them there
is nothing riding on
whether or not they wish
to contribute. Whetherthey support us or not
does not affect the range
going into the store or
positioning on shelf.
“There’s nothing rid-
ing on this. If everyone
says no, all that happens
is that new store costs us
more money.”
Appealing for dona-
tions was “very stand-
ard” for store openings,
said David Sables, CEO
of Sentinel Management
Consultants. “It’s been
an excuse for a request
for money ever since I
can remember. It’s a ludi-
crous standard request.”
Not all suppliers are
happy, however. One
told The Grocer: “This
is Planet Organic trying
to squeeze money out of
suppliers in a very ama-
teurish, ham-fisted way.
It’s come out of the blue,
and I understand that
suppliers are kicking off
about it all over the place,
indignant and refusing to
pay, and Planet Organic
is now in damage limita-
tion mode.”some of the top roles
in retail, supply and
production.
Entry is free and open
to anyone working in
the industry age 35 or
under, with nomina-
tions permissible either
directly or via a third
party. Previous winners
include entrepreneurs,
supermarket buyers, HR
advisors, commercial
directors, marketers and
farmers.Winners will be invited
to an exclusive event
in November as well as
receiving a platinum sub-
scription to The Grocer
and automatic enrolment
in our TNT community,
which includes access
to exclusive newsletters
and content, and invites
to additional events
throughout the year.
To enter, go to thegro-
cer.co.uk. Entries close 20
September.STANDARD REQUEST
It’s been an excuse for a request for money ever since I
can remember. It’s a ludicrous standard request – David
Sables, CEO, Sentinel Management Consultants