After Tough Economic Years, Daylesford Organic Plans Expansion

After enduring disappointing financial performance for some years, U.K. food retailer Daylesford Organic is launching an expansion program hat includes opening a shop in Harrods and a Tokyo franchise store this fall. Daylesford also hopes to supply supermarket chains with organic ready meals. According to CEO Jamie Mitchell, the company’s planned expansion is an attempt to reposition and develop the brand after some poor financial performance. In 2008, Daylesford lost $16 million on sales of around $13 million in 2008. The company hopes to get back to breakeven by 2011. Mitchell said the losses were due mainly to costs incurred in servicing its farms, producing food and establishing shops. Daylesford is owned by the family of JCB entrepreneur Sir Anthony Bamford.