test entrant in the ‘grab-and-go’ market, announced it is close to finalising three sites in the City.The first opening, which will be a pop-up, is forecast for May.
Born from the creative thinking of Corrado Accardi, a London-based chartered engineer originally from Italy, Pizza Rossa has gone from ‘zero to hero’ in less than six months by raising, through crowd funding, 157% of the capital needed in less than half the time envisaged – £440,000 in 17 days from just over 100 people.
The results broke the European record for a start-up through equity-based crowdfunding.
Accardi said: “With Heads of Terms agreed, we are excited to move closer to our first opening.
“Pizza Rossa will be aimed at time-poor city workers, offering a delicious and healthier product, easy to eat on the go, conveniently available and served quickly – 90 seconds from ordering to eating it piping hot.
“Pizza is no longer regarded as junk food, but as a high quality option in the grab-and-go lunchtime market, because it provides a complete meal.
“Our pizzas will be akin to the quality of food found in an Italian deli, and aligned with foodie pizzas.”
Pizza al taglio – pizza by the square slice – is a very Italian urban concept, imbedded in the culture of city workers who want to eat quality, tasty, healthier food even when time is short.
It is equally embraced by those who want to make the most of their leisure time, when stopping for a full meal may not be an option.
Pizza Rossa plans to create at least 15 jobs in the next few months and run at least 12 outlets within five years.
The company is entering a buoyant market, where there is plenty of room for growth: the pizza market has grown 4.2% in the past year and is now worth £876m.
Even before opening, the company is already ranked as a ‘high potential start up’ by the London Business School Incubator programme, of which Accardi is an alumnus.
It is also the winner of 2013 CrowdCube ‘Best Start Up of the Year’; winner of 2013 Deloitte Institute of Innovation and Entrepreneurship’s Founders Award; Winner of 2013 London Business School ‘Best Business Plan’ competition; and runner up in the 2013 European Business Plan of the Year competition.
