Amazon already offers meal kits, such as one from Sequential Brands Group Inc.’s Martha Stewart brand.
Shares of the newly-public meat kit company dived again Monday morning following news that Amazon had applied to trademark the phrase, “We do the prep”.
Shortly after the opening bell, Blue Apron was trading at $6.52, down 11.3 percent. “You be the chef”.
It’s just the latest Amazon-fueled hit absorbed by the flailing Blue Apron, which took a cleaver to its IPO range in the week before pricing following Amazon’s $13.7 billion acquisition of Whole Foods. But if you could order a dinner kit on Amazon Prime and have it delivered to your house in an hour whenever you forget to plan dinner-and not on Blue Apron’s fixed schedule-it could make a meal-kit plan even more appealing. The service will provide customers with “prepared food kits. ready for cooking and assembly as a meal”, according to company’s application, which was filed July 6.
At the time, that deal was seen as a major rival to Blue Apron, but Amazon’s foray into the meal-making business ramps up the competition to another level. It’s worth noting, however, that companies frequently file for trademarks they have no intention of using, either because they changed their mind or because it was just a nuisance filing aimed at keeping a competitor away from the golden words.