Los Angeles based Waka Coffee spotted a trend that youngsters just want coffee as fast as their wi-fi. Most coffee companies are either focusing on sourcing bean that cater to the luxury or the thrift. Few new brands aim to satisfy the instant market, after all didn’t Starbucks educate the world on Italian style brewed coffee.
Waka however is a leading newcomers in the instant coffee category. This month, they are announcing the addition of Indian instant coffee to its offerings. The new Indian instant coffee comes in a single-serve and a 3.5 oz bag.
“The new product is a light roast, low acidity coffee, with a pleasant, dry finish and notes of chocolate and hazelnut,” said Waka.
Unlike traditional instant coffee brands, Waka’s instant coffees are made from 100% Arabica beans, which are commonly used in coffee shops, to provide the best taste, at least they say.
David Kovalevski, the Founder & CEO of Waka Coffee, came up with the idea for the instant coffee company while living in New York City, juggling a hectic schedule as a full-time undergraduate student with a full-time job. David relied on coffee to fuel his daily routine. However, he quickly discovered that frequenting coffee shops and making coffee in a cramped NYC kitchen was complicated, time-consuming, and expensive. “I grew up in Israel, where instant coffee is much more common, and hoped to find a good instant coffee brand that would accommodate my needs. I wanted a simpler, easy-to-make coffee solution that was delicious no matter where I made it,” says David.
Founded in 2018, Waka Coffee is a direct to consumer coffee brand on a mission to bring the instant back.
An accident in the boiler room at instant coffee processor Salada Foods Limited led to a $23 million net loss for the December quarter 2018 and the halt of production.
The good thing is that enough branded Mountain Peak instant coffee was in the trade and still available for purchase.
The decline arose last October from an accident in the broiler room wherein both boilers were damaged and had to be taken offline. The main boiler only came back online at the end of November arising from repair delays, said Salada which manufactures instant coffee and ground coffee beans at its registered office on 20 Bell Road in Kingston.
“While it was down there was no production of coffee however there was sufficient finished goods inventory at Lasco and Salada’s overseas distributors to satisfy market needs,”said Salada in its interim report. Since February 2017, the company outsourced its distribution to Lasco Distributors.
Full production resumed last December, and it is now normalizing inventory levels with its distribution partners and expects by the end of the second quarter to get back on track with its financial results. Revenues amounted to $172 million for three months to December 2018 from $228 million in the corresponding period in 2017.
For the year ended September 30, 2018, the company led by General Manager Dianna Blake-Bennett grew its annual sales to $1 billion an increase of 19 per cent, up from $872,000 in the comparative year.
Improved exports and domestic sales were the keys to unlock much of the sales gains. Profits were buoyed by a strong sales performance, with Salada growing its domestic sales by 16.7 per cent, and improving its export sales in Canada and Barbados by 440 per cent and 220 per cent respectively.