Built on the promise of technology, Juicero was among the top-funded U.S. hardware startups in 2016. But in October, Evans was replaced as chief executive officer by Jeff Dunn, a former president at Coca-Cola Co. A few months later, Juicero dropped the price of the machine to $400 from $700. “It’s very difficult to differentiate yourself in the food and beverage sector,” said Kurt Jetta, who runs retail and consumer data firm Tabs Analytics. “Entrepreneurs may be tempted to have a technology angle when it’s not really there.”
Evans is now chairman of the startup’s board. The company sells produce packs for $5 to $8 but limits sales to owners of Juicero hardware. The products were only available in three states until Tuesday, when the company expanded to 17. Packs can’t be shipped long distances because the contents are perishable.
Juicero has managed to find a niche at high-end hotels and restaurants. Workers from seven businesses that own Juicero machines said they like the product because the disposable packs can be discarded with minimal cleanup. All seven said they didn’t know Juicero packs could be squeezed by hand. In Bloomberg’s squeeze tests, hands did the job quicker, but the device was slightly more thorough. Reporters were able to wring 7.5 ounces of juice in a minute and a half. The machine yielded 8 ounces in about two minutes.
Kippy Williams, owner of Kippy’s Organic Non-Dairy Ice Cream Shop in Los Angeles and Toyko, said she purchased her Juicero late last year for $1,200. (Juicero charges businesses a premium, she said.) Williams, a self-proclaimed health-food evangelist, said she’d like to see the company sell packs by themselves to people who can’t afford the device. “It would be great if they offered people the opportunity to buy the packs and press them by hand,” she said. “I want juice for every man, woman and child.”
This article was provided by Bloomberg News.