Dubbed ‘Brands on ice’, the first quarterly showcase event is set to be held on 11 July 2024 where senior figures at Iceland will look for the "best in branded new product innovation and development".
Ahead of the first event, the retailer is inviting food and drink manufacturers to submit applications pitching their branded products. Successful applicants will then be invited to showcase their products to Iceland decision makers including the CEO, group buying director, trading category directors, marketing director, senior trading managers, head of innovation and licensing and merchandising team.
If selected, the product will be rolled out in Iceland and The Food Warehouse stores, as well as at Iceland.co.uk, while the frozen food specialist will invest up to £100k into the launch.
Iceland and its partner service will also support successful firms with the launch itself and through activation within its stores, online, internationally and with colleagues. Furthermore, for every £100k investment made by a supplier, the retailer will invest a further £100k.
Chosen products will be available exclusively through Iceland for an agreed number of weeks before launching into the wider market. Iceland said this is because exclusivity unlocks its ability to invest in the launch and can be the start of a pipeline of continuous exclusive NPD.
The pitch itself consists of six questions:
- Exclusivity – what’s the opportunity?
- Your product – why Iceland and what’s your target customer?
- Commercial proposal, including forecasts and growth.
- Overview of the concept / product (including brand tiering).
- Is there an existing product benchmark?
- Your trade plan and how you would want to market & activate your product for launch.
Commenting on the launch of the scheme, Iceland head of innovation and licensing Oliver Gilding said: "We are incredibly pleased to announce Iceland's quarterly showcase for the best in branded new product innovation and development. Our goal is to accelerate the successful launch of branded products within Iceland Foods, The Food Warehouse, and Iceland.co.uk.
"We will offer bespoke launch plans tailored to each brand's needs, committed to discovering true innovation and providing our customers with unique and exciting ranges. The first quarterly pitching day is set for July 11th, with plans for products to hit shelves by early 2025.
"If successful, Iceland will invest up to £100,000 in helping to launch the new products. Brands will also receive comprehensive support, including assistance with manufacturing, branding, and activation of the new lines."