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Xcel Brands Expands Mesa Mia Brand Into Consumer Packaged Grocery Foods

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XELB$0.4542 −24.30%

Xcel Brands, Inc. (NASDAQ:XELB) announced plans to expand its Mesa Mia by Jenny Martinez brand into the consumer-packaged goods food category. Created in partnership with Mexican-American chef and content creator Jenny Martinez, the expansion will bring authentic Mexican food products to supermarkets and grocery retailers across the United States.

The move targets the estimated $25 billion Hispanic food aisle, a product category that is growing at twice the rate of overall grocery items. Xcel Brands aims to address a void in national retail offerings, where legacy commodity brands and private labels currently dominate, by delivering heritage family recipes led by a culinary personality with over 5.3 million social media followers. Initial product lines are expected to include salsas, cremas, queso, refrigerated and frozen meals, and desserts.

Investors will be watching how effectively Xcel Brands establishes distribution across national grocery chains and converts Martinez's digital audience into retail sales. Shares of Xcel Brands were down 24.30% at $0.4542 following the announcement.

Key points

  • Xcel Brands, Inc. (NASDAQ:XELB) is launching its Mesa Mia brand into consumer-packaged foods for national grocery retail.
  • The product line is built around traditional recipes from chef and content creator Jenny Martinez, who has over 5.3 million followers.
  • The expansion targets an estimated $25 billion Hispanic food category that is growing at twice the rate of general grocery products.
  • Initial offerings will include salsas, cremas, queso, refrigerated and frozen meals, as well as desserts.
  • Shares of Xcel Brands fell 24.30% to $0.4542 on the day of the announcement.

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Questions and answers

What is Xcel Brands expanding into?

Xcel Brands is expanding its Mesa Mia brand into consumer-packaged food products for national grocery retail, including salsas, cremas, queso, meals, and desserts.

Who is partnering with Xcel Brands on Mesa Mia?

Mexican-American chef and content creator Jenny Martinez, who has over 5.3 million social media followers, is partnering on the brand.

How large is the Hispanic food category in grocery retail?

The Hispanic food aisle represents approximately a $25 billion product category that is growing at twice the rate of current general grocery products.