- Ninja has seen its profits skyrocket and has increased 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 deep fryers and now plans to do the same with picnic equipment.
Your new cooler promises to end the suffering of soggy sandwiches (or other picnic favorites) caused by melting ice.
The $10 billion company has seen its 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 when it comes to picnic coolers.
They have produced the Ninja FrostVault, which comes with a first-of-its-kind “dry zone” drawer that 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 to communicate it to a consumer in a way that is compelling and resonates with them.”
Ninja has taken over the world of home appliances with its oil-free fryers and now plans to do the same with picnic utensils
It has produced the Ninja FrostVault, which comes with a ‘dry zone’ drawer, the first of its kind, that keeps food cold without getting it wet for the price of $250.
The Ninja team spent a year trying to solve the soggy sandwich dilemma and got to work creating the perfect picnic cooler.
It launched the FrostVault product in March and fans loved 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 features locking lids with latches that can be opened with one hand.
Referring to how highly he ranks his team, CEO Barrocas said, “I wouldn’t want to compete against 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 to be than Boston.’
Innovative products like the Ninja FrostVault are attracting even more customers to the home appliance brand.
Its stock prices have risen 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, sales increased 24.7 percent to more than $1 billion, up from $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 its 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 solve the soggy sandwich dilemma and got to work creating the perfect picnic cooler.
The company projects its revenue will grow 14 percent this year from its figure of $4 billion in 2023.
It continues to reinvest in its research and development to find creative solutions to common household dilemmas.
The headquarters is located in Needham, Massachusetts, where about 1,000 of its 3,000 employees work.
There are prototyping machines and kitchens that are used to test newly developed products.
