Mr. Bing's CPG business originated from demand within the food service channel, specifically from chefs in corporate cafeterias. This B2B segment now constitutes almost half of the company's revenue and creates a flywheel effect, driving brand awareness and demand in retail.
The company adapted a traditional Chinese condiment for the American palate by creating a more versatile, milder version of chili crisp. Further innovation, driven by chef requests for an easier-to-use format, led to a new, fast-growing line of squeezable Asian BBQ sauces.
Mr. Bing is riding the wave of chili crisp's popularity, which has seen a 700% increase in menu mentions since the pandemic. The company has established itself as the claimed leading brand in the U.S. food service sector for this trending condiment.
Mr. Bing collaborates with industry giants like Kikkoman on co-branded products and Hormel on new food concepts for major restaurant chains. These partnerships provide access to established distribution networks and lend credibility to the brand.
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