Diageo targets US restaurants with app investment
Diageo has invested in a restaurant-reservation app as it looks to dig deeper into the US on-trade through mobile technology.
The app, called Reserve, helps consumers find restaurants in their area, book tables and also pay the bill. The investment is through Diageo's incubation fund, Diageo Technology Ventures, but financial details have not been disclosed. A spokesperson for Reserve told just-drinks that the investment is in the form of a convertible note and that other partners will join Diageo in funding the company.
"We are looking to partner with innovative tech companies that are enriching the consumer experience in [the mobile] space," Diageo said.
Reserve, which was founded by CEO Greg Hong, describes itself as a "a digital concierge service". Diners pay for their meals through the app, which automatically deducts payment through their phones when they leave the restaurant. The company has partnered with about 500 restaurants in seven US cities.
Hong said Diageo's "insight into the restaurant industry" will help Reserve as it looks to accelerate growth this year.
Data taken from consumer receipts could help Diageo spot trends in the US on-trade. Research company Guestmetrics uses information taken from bar and restaurant point-of sale transactions in the US to analyse sales performance across a number of beverage categories.
Asked if Diageo will have access to the data, the Reserve spokesperson said: "At this point, we aren't going to speculate about any potential data analysis or products that we will offer."
Last year Guestmetrics blamed bad weather for a slowdown in US on-trade sales across the first three months of 2015.
Diageo plc : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis
Canadean's "Diageo plc : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis" contains in depth information and data about the company and its operations....read more
Canadean's "Diageo plc : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis" contains in depth information and data about the company and its operations....
Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organi...
Diageo plc (Diageo) is an alcoholic beverages company that produces, distributes, and sells spirits, beer, and wine products....
Diageo Great Britain Ltd is part of Diageo Plc, which is the largest manufacturer and distributor of spirits and a major producer of beer and RTDs, operating in more than 20 markets across the Globe....
- The end is nigh for Global Travel Retail - Comment
- Five ways small brands can beat big players
- Interview, Bulldog Gin founder Anshuman Vohra
- Pernod Ricard's Q1 results - Preview
- Pernod Ricard Q1 2017 results by region, brand
- Diageo most at risk to Thai alcohol ban - analyst
- Constellation sells Canadian wine unit for US$761m
- Jobs at new India hub won't affect staff - Diageo
- Stumbling UK Pound prompts Conviviality price hike
- Pernod Ricard cheers US move to ease Cuban limits
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020