Glovo, the on-demand delivery firm, has unveiled a package of virtual food brands for restaurants.
Glovo Concepts is a virtual virtual food branding program developed by Glovo and run by some of its restaurant partners.
It is a complete product with Glovo that offers brand name, menu, ingredients, recipes and marketing materials. Restaurants can use a brand with their existing staff and equipment if they have extra capacity in their kitchens.
About 300 restaurants in Spain and Italy are using Glovo Concepts with the company expecting to reach 1,000 restaurants by the end of the year. It will come out in Romania, Georgia, Croatia, Portugal and Poland then with all the markets expected to be open to virtual brands by 2022 – recently it bought several markets in Europe from Delivery Hero.
She has created eight virtual brands with names like Bendito Burrito and Taqueria Guadalupe.
Alberto Bonhomme, director of Glovo Concepts, said the new division was created to help restaurants still suffering from the pandemic launch new brands for their customers with minimal investment costs.
“This will allow them to implement quickly and take advantage of the delivery service becoming an essential part of any business, regardless of their size,” Bonhomme said.
“Through our pioneering technology, Glovo is now able to create a unique opportunity for restaurants to adapt their businesses to the new normal and continue to expand at zero risk.”
Restaurants do not have union fees but are subject to the usual commission fees from Glovo.
Glovo has invested more and more in areas beyond traditional food distribution. It is currently in the midst of a major investment in ‘dark shops’, a network of warehouses for storing groceries and goods for fast 15-minute deliveries to cities. In January, she signed a 100m-euro deal with Swiss real estate firm Stoneweg to buy warehouses for this side of her business.
He raised 450m euros in his final round of financing in April with Lugard Road Capital and the Capital Luxor Group directing the investment.