- Ninja has seen profits skyrocket and increased its research and development
- CEO Mark Barrocas has solved the issue of soggy sandwiches in picnic coolers
Ninja has taken over the world of kitchen appliances with its air fryers and now it is planning to do the same with picnic gear.
Its new cooler promises to end the misery of soggy sandwiches – or other picnic favorites – caused by melting ice.
The $10billion company has seen profits skyrocket in recent years and has increased its research and development fund to $70million as a result.
CEO Mark Barrocas and his team of researchers have worked hard to solve the issue of soggy sandwiches when it comes to picnic coolers.
They have produced the Ninja FrostVault which comes with a first-of-its-kind ‘dry zone’ drawer and keeps food cold without getting it wet for the price of $250.
‘I love solving consumer problems,’ Barrocas told the Boston Globe. ‘I love the mousetrap of how do you communicate it to a consumer in a way that is compelling and resonates with them.’
Ninja has taken over the world of kitchen appliances with its air fryers and now it is planning to do the same with picnic gear
It has produced the Ninja FrostVault which comes with a first-of-its-kind ‘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 got to work putting together the perfect picnic cooler.
It released the FrostVault product in March and fans have been loving the separate compartment that keeps snacks dry at food-safe temperatures.
The 50-quart cooler can hold up to 80 cans and 50 bottles and it features lockable lids and draw latches which can be opened with just one hand.
Referring to how highly he ranks his team, CEO Barrocas said: ‘I wouldn’t want to compete against Ninja and the folks that are here.
‘We’re fortunate to be here. If you look at our type of business, I can’t think of a better place to be in the country than in Boston.’
Innovative products such as the Ninja FrostVault are attracting even more customers to the appliance brand.
Its share prices have risen by more than 50 percent since the start of the year to $77 and the company is outperforming the majority of consumer product stocks.
In the first quarter of 2024, sales increased by 24.7 percent to more than $1billion – up from $855 million during the same period last year.
CEO Mark Barrocas and his team of researchers have worked hard to solve the issue of soggy sandwiches when it comes to picnic coolers
The $10billion company has seen profits skyrocket in recent years and has increased its research and development fund to $70million as a result
The team at Ninja spent around a year trying to figure out the soggy sandwich dilemma and got to work putting together the perfect picnic cooler
The company is projecting its revenue to grow 14 percent this year from its $4billion figure in 2023.
It continues to reinvest in its research and development to come up with creative solutions to common household dilemmas.
The headquarters is in Needham, Massachusetts where around 1,000 of its 3,000 employees work.
There are prototyping machines and kitchens which are used to test out the recently developed products.
