Entrepreneur interview an analysis- Michel Et Augustin
- What is Michel Et Augustin?
- The idea and the opportunity
- The key success factors
- The team
Michel Et Augustin is an innovative French food brand created in 2005, with activities on several food markets: biscuits,crackers,yogurts and desserts. Different products are sold, such as “little round and good biscuits”, sweet and savory, fresh mixed fruit juices, drinkable yogurts called “cows to drink” in the jargon of the brand,“little squares not very square” coated biscuits,“little cookies from France” and ”cows in little and big jars”.These products can be easily spotted thanks to a black and white cow, which is the symbol of the company. The concept is nature: fresh foods, tasty, healthy, with a creative packaging, and the most important,which puts in a good mood! These products are distributed in supermarkets and hypermarkets, in convenience stores, delicatessen shops, snack outlets, high quality fast foods and even in video clubs!Augustin and Michel started to launch the venture in 2005, being only two, but today there are more than 30 people involved in the adventure. They make a turnover of 20 millions euros and are very famous in France for the way they adopt to communicate about their adventure and their products.
[...] Once graduated, Michel worked as a consultant for the London-‐based strategy-‐consulting firm L.E.K. Consulting in the food industry. As far as I am concerned, I first worked as an analyst in strategy at the Club-‐Med. I loved the job but I was not very gifted for it. Then I made my first move in entrepreneurship with the creation of a technologic start-‐up. It was a project quite weird as I never really understood the activity of the firm but I was a co-‐founder, and the company has been resold very well to an American guy, which enabled me to make some money. [...]
[...] Well, when I think about it now, with hindsight, I realize that Michel and I took high risks as we both had a comfortable situation, with a good job. But at that time, as far as I am concerned, I was not satisfied with my job, and I knew entrepreneurship was for me. So I did not perceived the venture as a risk. Moreover, my wife encouraged me, and we had money so I could take that risk. And I have to say that both of us are not often worried. [...]
[...] This idea of developing a network of stores would enable us to complete our presence in supermarket and selective distribution by a presence even more personal and intimate in Michel Et Augustin stores. So this would enable us to become closer to consumers and to communicate about the innovative concept of the brand. Then, we also aimed at making our brand become international in food industry. So we are currently testing some markets for export, to understand and be aware of its potential. [...]
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