Alison Roman's Plan to Conquer the Tomato Sauce Market

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Odd Lots 55 min 7 speakers 5 chapters transcribed 1 month ago
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Francine Lacqua 0:00
Next week on Leaders with me, Francine Lacqua, I speak with Harvard Business School Professor Linda Hill about what CEOs need to know to be successful.
Tracy Alloway 0:10
It really is not about them. It is about the
Francine Lacqua 0:12
organization. About how to lead in the age of AI. That requires a lot of confidence. And why great leaders embrace conflict. You need to amplify difference. Listen and watch Leaders the Podcast with me, Francine Lacqua, on Bloomberg TV or wherever you get your podcasts.
Bloomberg Audio Studios 0:30
Yeah. Bloomberg Audio Studios Podcasts, Radio, News.
Joe Weisenthal 0:48
Hello and welcome to another episode of the Oddlots podcast. I'm Jill Weisenthal.
Tracy Alloway 0:53
And I'm Tracy Alloway.
Joe Weisenthal 0:54
So Tracy, we're recording this on February 4th, and a lot of tech stocks have been getting clobbered lately, but you know what's doing really well? What? Companies that make consumer staples, all of like the core staples that you'd see in your pantry, et cetera, like your PepsiColas and all this stuff. Companies that might make like jar sauces and stuff, people are returning to sort of uh the old style basics that people buy in the stock market.
Tracy Alloway 1:19
Who would have thought that food is lingdy? Amazing. Amazing.
Joe Weisenthal 1:22
Food persists. No, but it's serious. You know, it's like the only place to hide right now in the market. Like I look at my screen and everything is bright red. And the only thing that people feel comfortable betting on right now seems to basically be food. The stuff that people pasta sauce and the stuff that people have eaten for all time and probably will be eating for as long as there are people on earth.
Tracy Alloway 1:42
Right. And this always so I find this business really interesting because, you know, I joke that food is Lindy in many ways, but you know, like Food is right. Food is essential, but it's also constantly changing. It feels like. And so I'm always very curious about how consumer brands actually make pricing decisions, branding decisions, especially, 'cause it also feels like an area that's very crowded. You know, you walk into the supermarket and there's like
Unknown 2:09
totally
Tracy Alloway 2:09
twenty different brands of, I don't know, flour or something.
Joe Weisenthal 2:14
No, totally. You know, one of the things, you know, we've done various CPG episodes over the years. Remember, we did some episodes about like Celsius energy drink and stuff. And one of the themes that we sort of maybe I hadn't appreciated prior is like that competition for shelf space. Yeah. The distribution aspect, getting on the shelf, getting a spot in the truck that delivers the beverages to the grocery store or to the bodega or whatever. Like so much of the game is Yes, the brand. Yes, the product. And then just the sort of logistical aspects of it. And I think like that f that sort of we don't talk about it enough, but as a theme, I love like learning about this space, how the uh CPG business works, especially with regards to pricing and so forth.
Joe Weisenthal 2:55
It's so illuminatory about how the whole economy works. Is that a word? Ill illuminating.
Tracy Alloway 3:00
Illuminating. Very good. Well, we do have the perfect guest.
Joe Weisenthal 3:03
I'm very excited to say we do have the perfect guest today. Someone who is uh in the tomato sauce business, but really known for uh so much more. One of the I would say most famous people in the food world these days. We are going to be speaking with Allison Roman. She's a cook and the author. She has a grocery store called First Bloom that um I missed when they had a pop-up Manhattan location. I missed it. Hopefully uh that'll get reopened at some point. And tomato. Tomato sauce business called a very good tomato sauce. So Allison, thank you so much for uh coming on Outlots.
Alison Roman 3:33
Oh, thank you for having me. This is a pleasure.
Tracy Alloway 3:35
Joe, can I ask you a question before we start, which is I know you love fresh tomatoes. Do you also love tomato sauce?
Joe Weisenthal 3:42
Yeah, yeah.
Tracy Alloway 3:42
Okay. You want to discover some basics. That's right, that's right. There is room for both. There is room for both. I'm glad we uh
Joe Weisenthal 3:48
I'm glad we got this in. All right. Uh where to begin. So you are this a tr a genuine celebrity of the food world. People are addicted and they love your recipes. I just did home two nights ago, my wife made your um, I think it was like a broccoli cheddar soup that you have a recipe for.

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