Hi-Tech

Amazon files for meal kit trademark

Amazon files for meal kit trademark

While tech companies routinely file trademark applications and don't act on them, Amazon's move indicates it may directly compete with Blue Apron in the future. "You be the chef". Amazon Technologies Inc., an Amazon subsidiary, filed a July 6 trademark application for "prepared food kits composed of meat, poultry, fish, seafood, fruit and/or vegetables. ready for cooking and assembly as a meal". Blue Apron shares are down 21.2% for the month to date while Amazon shares are up 3.5% for the period.

Amazon has already made a huge play in the food industry with its June 16 offer to buy organic foods giant Whole Foods Market for $13.7 billion.

Neither Amazon nor Blue Apron responded to requests for comment from CNNMoney. Below are four reasons why this is especially bad news for Blue Apron. The stock was down another 10 percent Monday morning and dipped below $7.00 per share for the first time ever as investor concerns may have been confirmed.




Amazon is a model buster.

Part of the problem has been the price, but with Amazon coming on the scene, that could change. However, its slowing growth with revenue up a more modest 42% in this year's freshman quarter and its lack of profitability make it vulnerable if Amazon should dive in sooner rather than later with an aggressively priced knockoff. Once the Whole Foods deal goes through, it'll have a strong grocery backbone to plant a stake. That said, with Amazon's recent acquisition of Whole Foods Market (NASDAQ: WFM), it's hard for investors to simply shrug this trademark off. Blue Apron went public on June 29 with an opening price of $10 per share, down from the $15 to $17 per share it had initially sought.

David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now. and Blue Apron wasn't one of them! Rick Munarriz has no position in any stocks mentioned. The Motley Fool has a disclosure policy.


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