Epicery Shuts Down After Years of Ups and Downs in the French Food Delivery Market
Epicery, a French food delivery startup, closes operations after facing financial challenges and increased competition.
Matilda
Epicery Shuts Down After Years of Ups and Downs in the French Food Delivery Market
French food delivery startup Epicery has ceased operations after struggling to overcome economic and financial challenges. The company, known for its focus on premium groceries and local deliveries, faced significant headwinds in recent months due to rising inflation, which led customers to reassess their food spending. Despite ceasing operations in some cities, Epicery reported a negative EBITDA of €4.69 million in 2023 on sales of €2.57 million. A Rollercoaster Ride: From Pandemic Boom to Post-COVID Struggles Epicery experienced a surge in demand during the COVID-19 pandemic lockdowns in France. This unexpected growth led Geopost/DPDgroup, the express parcel delivery branch of Groupe La Poste, to acquire a majority stake in the company in late 2021. This alliance seemed logical at the time, given Geopost's investment in last-mile delivery service Stuart, a major partner for Epicery. However, the tide turned as La Poste began to divest from several of its startup investments, includi…