Jugofresh past its expiration date

Owner cited rapid expansion and lack of experience as reasons the business failed

Miami /
Mar.March 13, 2018 02:30 PM

Jugofresh in Coral Gables (Credit: Wikimedia Commons)

Jugofresh is no more.

Owner Matthew Sherman announced the cold-pressed juice company shut down on Tuesday, closing all of its stores and ending its partnership with Whole Foods Market.

Sherman wrote in an email blast that his “lack of experience and rapid expansion are what ultimately led us to close.” The company grew quickly in its six years,  with up to eight locations in South Florida and shops at Whole Foods Markets in downtown Miami, Fort Lauderdale, Coral Gables and others. “When you sign a deal with a large company it is difficult to maintain a clear brand message,” Sherman said.

In 2015, he sold the Biscayne Boulevard site in MiMo that he had planned to redevelop. Sherman made a $440,000 profit in two years, selling the building at 7501 Biscayne Boulevard for $1.4 million to developer Alex Karakhanian.

In his email, Sherman also cited rising retail rents and competition from online retailers. At the company’s flagship Sunset Harbour store, revenue dropped from $3.2 million in 2013 to $870,000 in 2017, he said. Competition also grew, with new juice bars popping up in Miami Beach, Brickell, Wynwood and downtown Miami.

Sherman could not immediately be reached for comment.


Related Articles

arrow_forward_ios
Tricera Capita's Ben Mandell with rendering of The Press project (Tricera Capital)
Lease roundup: Tricera scores tenants in West Palm, Boca
Lease roundup: Tricera scores tenants in West Palm, Boca
From left: Lalo Durazo, Ricardo Dunin, Peacock Garden cafe, Gregory Galy and Mark Scheinberg (Getty, Peacock Garden)
Billionaire’s hospitality group buys Peacock Garden in Coconut Grove
Billionaire’s hospitality group buys Peacock Garden in Coconut Grove
Rockpoint's Bill Walton and Keith Gelb with the Shops at Mary Brickell Village (left), 1221 Brickell (middle), and 911 Southwest First Avenue (right) (Rockpoint, Google Maps, Twitter)
Rockpoint’s Brickell bonanza: Firm reaps riches in booming neighborhood
Rockpoint’s Brickell bonanza: Firm reaps riches in booming neighborhood
From left: Rockpoint’s Bill Walton and Keith Gelb, 911 Southwest First Avenue and RPT Realty’s Brian Harper (Rockpoint, Google Maps, RPT Realty)
RPT Realty buys Shops at Mary Brickell Village for $216M
RPT Realty buys Shops at Mary Brickell Village for $216M
Lucid Investment Group's Andrew Rasken with 143 Southwest Ninth Street
Mexican developer-led JV plans Brickell apartment tower
Mexican developer-led JV plans Brickell apartment tower
Google Street View of the properties at 551 Southeast Eighth Street and 551 Southeast Fifth Avenue in Delray Beach with CDS International Holdings founder Carl DeSantis (Google Maps, CDS Holdings)
Celsius energy drink investor Carl DeSantis pays $25M for Delray Beach offices
Celsius energy drink investor Carl DeSantis pays $25M for Delray Beach offices
R & B Realty’s Shelby Rosenberg and The Gateway at Wynwood (R & B Realty Group, iStock)
Lease roundup: The Gateway at Wynwood scores three new tenants
Lease roundup: The Gateway at Wynwood scores three new tenants
(left to right) Nuveen's Mike Nuveen with 800 Waterford Way and Pebb Enterprises' Ian Weiner with 5355 Town Center Road (CoStar, Nuveen, TVS Design, Pebb)
Lease roundup: Nuveen nabs fintech tenant in Miami, Brookfield scores 20 leases at Boca’s Mizner Park
Lease roundup: Nuveen nabs fintech tenant in Miami, Brookfield scores 20 leases at Boca’s Mizner Park
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...