The Skinny Food Co. was set up in 2018 by two entrepreneurs, James Whiting and Wayne Starkey, who wanted to make a positive difference to the world and people within it. They were inspired by a desire to improve the relationship their diabetic family members had with food, and were determined to provide healthier, less calorie dense alternatives to the foods we all love and enjoy.
They started small, with ketchup and barbecue sauce, and grew extremely quickly. Now the Skinny Food Co. has over 500 products, all with the aim of providing people with the foods they love without sacrificing their health.
We set our students a Team Business Challenge to carry out market research and find a gap in the market that could lead to new product innovation for Skinny Food Co. Any new product idea had to capture the attention of Generation Z customers in particular.
The module was compulsory for every student across the Business School, meaning that 480 students took part. “We split the students into groups of six according to their business degree discipline,” explains Rachael Mabe, University Teacher in Marketing. “So we had accounting students working with marketing students, management students, building teams from across the programme so they could learn from one another and meet this challenge together.”
When we say Skinny, we’re talking about our food. Skinny because of the sugar we take away. Skinny because of the calories we reduce down to virtually zero. That’s the only Skinny we care about.
Ideas from the workforce of the future
The Skinny Food Co. became very involved and enthusiastic right from the start. "I gave the introductory lecture for the module on two consecutive days, and rather than re-timetabling, Skinny came onto campus and got involved," explains Rachael.
"They had a Skinny stand outside the lecture theatre and spent their time meeting and chatting to our students. It was great to have a company that was so involved and that could see the value of the partnership."
Students were tasked with researching into the market, evaluating their data and giving a ten-minute presentation to tutors during a ceremony at the end of the module. They had to explain the product innovation they had chosen and why, as well as how they proposed spending the available budget of £50,000.
The top student groups were then shortlisted and given time to refine their presentations before pitching their ideas to the Senior Leadership team at Skinny Food Co. as well as a panel of industry experts.
The Skinny Food Co. valued having such an in-depth, different perspective on their brand and their market. “They have people within the business who can provide insight of course,” explains Rachael, “but it’s younger people and their mindset that are going to be important. They are not just the workforce but also the consumers of the future.”
From presentation to production
The students rose to the challenge and delivered some fantastic work in pitching their ideas. Concepts ranged from granola, buffalo wings and high protein ice-cream to pasta sauce, smoothies, healthy crisps and baby food. All shortlisted students received a Certificate of Academic Excellence for their work.
The winning group focused on a skinny mocktail range, and the leadership team at The Skinny Food Co. was so impressed that they are going into production with the product. Retail outlets may soon be seeing Skinny Food Co. strawberry daiquiris, espresso martinis and more.
“That’s part of the difference that studying at Loughborough can make,” explains Rachael. “Active learning and live briefs like this are becoming more popular, but the idea that you can have your product actually go into production, that investment from the company involved is probably quite unique.”
The start of an ongoing relationship
The Business School’s relationship with The Skinny Food Co. is developing and there may well be other opportunities in future, including placements. The company certainly valued the benefits of having hundreds of students living and breathing their market and their products for a term, and are keen to continue the partnership.
The placements and live briefs are something that Rachael Mabe values highly for student development. “Students can choose to do a full placement of 45 weeks, or an international year where they study abroad at two universities, or they can do a mixture of both. Or they can choose to set up their own company and be supported as they do so. I don’t know of any other university with so many different options.”
These days, business is no longer solely about selling as much as possible to make a profit, but about providing products that people want, while doing so sustainably. The Skinny Food Co. module shows just how products with purpose, low-calorie foods designed to help people with diabetes, can stand side by side with the profit motive. A perfect example of how to progress with purpose.