Kitchenware company that revolutionized the air fryer is now tackling the cooler
- Ninja has seen profits increase and has expanded its research and development
- CEO Mark Barrocas has solved the problem of soggy sandwiches in picnic coolers
Ninja has taken over the kitchen appliance world with its air fryers and now plans to do the same with picnic items.
The new cooler promises to put an end to the misery of soggy sandwiches (or other picnic favorites) caused by melting ice.
The $10 billion company has seen profits soar in recent years and has increased its research and development fund to $70 million as a result.
CEO Mark Barrocas and his team of researchers have been working hard to solve the problem of soggy sandwiches in picnic coolers.
They have produced the Ninja FrostVault which comes with a unique ‘dry zone’ drawer and keeps food cold without getting it wet for the price of $250.
“I love solving consumer problems,” Barrocas told the paper Boston sphere. ‘I like the mousetrap: how do you communicate this to a consumer in a way that is attractive and resonates with him or her.’
Ninja has taken over the kitchen appliance world with its air fryers and now plans to do the same with picnic items
It has produced the Ninja FrostVault which comes with a unique ‘dry zone’ drawer and keeps food cold without getting it wet for the price of $250
The team at Ninja spent a year trying to figure out the soggy sandwich dilemma and set out to put together the perfect picnic cooler.
It released the FrostVault product in March and fans loved the separate compartment that keeps snacks dry at food-safe temperatures.
The 50 liter cooler can hold up to 80 cans and 50 bottles and features lockable lids and drawstrings that can be opened with just one hand.
Referring to how highly he ranks his team, CEO Barrocas said, “I wouldn’t want to compete with Ninja and the people that are here.
‘We are lucky to be here. If you look at our type of business, I can’t think of a better place in the country than Boston.”
Innovative products like the Ninja FrostVault are attracting even more customers to the appliance brand.
Share prices are up more than 50 percent since the beginning of the year to $77, and the company is outperforming most consumer products stocks.
In the first quarter of 2024, revenue increased 24.7 percent to more than $1 billion, compared to $855 million in the same period last year.
CEO Mark Barrocas and his team of researchers have been working hard to solve the problem of soggy sandwiches when it comes to picnic coolers
The $10 billion company has seen profits soar in recent years and has increased its research and development fund to $70 million as a result.
The team at Ninja spent about a year trying to figure out the soggy sandwich dilemma and got to work putting together the perfect picnic cooler
The company expects its revenue to grow 14 percent this year from $4 billion in 2023.
It continues to reinvest in research and development to come up with creative solutions to common household dilemmas.
Its headquarters are in Needham, Massachusetts, where approximately 1,000 of its 3,000 employees work.
There are prototyping machines and kitchens in which the recently developed products are tested.