Yes you are right. That is one of the reason they had started to enter B2C.
I think easy growth can be a task for B2B but currently I think that is far away as:
- They are shifting to specialized products which has more margins + stickiness in the product(switching will be hard for customer).
- They have cracked USA market + new law in USA regarding the quality make them as preferred supplier.
- There is hope that in Switzerland they would come into the five supplier bracket for their customers. Also they have started supplying to retail market from last year and those contracts has been renewed.
- Further they also said that they plan to target 1-2 big customers every year on recurring basis.
- This company has also cracked into Japan market which is quite difficult
- Their existing customers keeps on increasing their volume and also when a new customer is added first year the customer order basic vanilla product and then from second or third year after gaining trust they switch you more premium products, which leads to growth of 50-60% in volumes.
These point give me enough confidence to stay invested
And I would also like to mention that in their recent con-call management said that they are planning to enter the pod segment which is currently a 35 billion dollar market and is expected to be 51 billion by 2027.
Also, If you are interested here is my analysis on their recent con-call with some pointers at the end: https://drive.google.com/file/d/1S1d-2Amjgt5tX7uiK2fe39sgAE3nzMjL/view?usp=sharing
(please don’t mind my awful handwriting)
Cheers!