“The first months in Japan have shown that there is currently no market environment that would warrant additional growth financing,” said a spokeswoman for the company.
Analysts say it would be years before HelloFresh could become profitable in the country.
Japan was the first Asian country in which HelloFresh became active. It was seen as a test for further expansion in the region. “We want to learn more about the Asian markets and how our products are received there,” CEO Dominik Richter had stated at the beginning of March 2022.
HelloFresh says it now wants to focus on its other markets. The company currently operates in much of Europe as well as the US, Canada and Australia.