We recently interviewed Ahmed Albakary, Founder and CEO of London Foods Co. He has been a global leader, working with some of the top Multinational companies in the Middle East, Europe and North America for decades and leading toward the growth of businesses and brands. During his 28 years of experience, he has bagged several awards and honors for his outstanding contribution to this industry. After such a journey, Ahmed made a career shift and started a new chapter in his life with one of the most successful B2B platforms in the Middle East, Fatura, as a Co-founder and NE Chairman which was acquired by EFG Hermes, in 2022. Today Ahmed with his partners, who are some of the top leaders in the consumer goods field worldwide, started a new business model that might change the game in the world of FMCG. Let’s learn more about the aim of the new start-up, London Foods, Ahmed Albakary is leading now through this interview below.
Why London Foods And Why Is It Different?
London Foods’ Product
Ahmed Albakary replied: I was inspired by the concept because of some of the branding and promotional activities I witnessed during my regular business trips to London a few years ago. This is why we chose London Foods as the name for the model. The aim behind establishing our model is to deliver new concepts to the younger generations who are very picky and not accepting many of the offerings that were accepted by the older generations before. Our research highlighted the fact that this age group is looking for new ways to enjoy some of the top existing brands through new experiences and occasions. What we are aiming to do is to partner with most of these top brands worldwide to offer our target market, who really cares about what they eat, a new trendy experience with their beloved and trusted brands through our brand “It’s a Boom”.
Inspiration Behind This Company
Every business owner might encounter situations that inspire them to build a successful venture. We asked, “What inspired you to start your own company or venture in this industry?”
He shared, “Consumption habits are changing faster than the capabilities of most of the current business models to react to it. This is visible in all the research taking place and the new categories being developed on a daily basis. So, we needed a model that can be agile enough to capture these new trends, develop new concepts to meet the new needs efficiently, and supported with a large network of the best manufacturers and distributors to deliver on this objective with speed. Accordingly, we established our business model to be an asset light model managed by a very lean structure and in partnership with top brands that allows us to act with flexibility and high speed to deliver on the needs of our target market who is looking for new products/concepts every day.
Innovative Ideas
Focusing on the innovative and creative aspect of the business is equally essential to reaching the heights of success. We asked, “How do you foster innovation within your company? Can you provide an example of a successful innovation initiative?”
Ahmed shared: Hopefully I will not be exaggerating when I say that we designed our brand to provide consumers with experiences that will create a positive shock to consumers. Every introduction will be a BOOM in concept, quality and value. For example today and for the first time in non-traditional channels, you can have your breakfast cup of coffee with our “It’s a Boom“ biscuits that contains Hershey cinnamon chips or Reeses peanut butter chips. Or you can snack, with your cup of tea, with our “It’s a Boom” cookies that are rich with Hershey chocolate chips or Reeses peanut butter chips. Also, through “It’s a Boom”, you can have your daily espresso shot in an indulging snacking experience instead of drinking it. We partnered with the premium Italian brand “Segafredo ” to offer the consumers one full espresso shot through our chocolate bites serving bag or through our no added sugar coffee spreads. All these experiences exist with their favorite flavors such as Mocha, Hazelnut, Vanilla, and Peanut butter. As you can see, the beauty of our concept is that our main ingredient in each sku is coming from a great brand that are loved and trusted worldwide. This guarantees a great taste and a great experience for consumers who really care about what they eat. The good news is that we already signed with more international brands to join our concept, and we will introduce these international brands in new categories before the end of the year in many countries around the world.“
Adapting Business Strategies
Trends in the industry keep transforming quite fast in the current global scenario. So we asked, “How do you adapt your business strategy to capitalize on emerging opportunities and industry shifts?”
Ahmed Albakary shared, “With the current and expected economic challenges, there will be some serious threats on the purchasing power of the consumers and their consumption patterns. So, the term “Affordability” is arising as a necessity for brands that want to survive and continue growing. Our model is structured and supported with capable talents and partners to be agile and innovative enough to keep providing consumers with their beloved brands in new categories, with high quality and reasonable prices that can allow them to keep enjoying their beloved brands in formats they wish for.
Visions For the Business Growth
“What are your long-term goals for your company? How do you plan to remain competitive in the evolving business landscape?”
He shared, “To create “It’s a Boom” as the favorite platform for the younger generations that delivers on their needs for high quality innovation and in partnership with all the loved and trusted international brands. We will do this through agility, customer focus and speed to remain competitive.
Advice To Beginners
Beginners starting in the same field will undoubtedly find hearing from an expert like Ahmed inspiring and helpful. So we asked Ahmed Albakary, “What advice would you give aspiring entrepreneurs in this industry? What key lessons have you learned along the way?”
He replied, “If you have a good idea, then don’t give up against the many challenges you will face. Good ideas will always make it if the right team, right effort and the right passion existed.”
Connect with Ahmed Albakary on LinkedIn.
Find London Foods on LinkedIn.
