Pret a Manger

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Pret a Manger

Inside a Pret a Manger, Strand, London

Pret A Manger graphic scheme, London storefront

Pret A Manger (French for "ready to eat", a reference to "prêt à porter" (ready-to-wear) as distinct from "bespoke"; informally known as "Pret") is a UK sandwich retailer (its Italian shareholder sold his shares to an investment company). As of January 2007, some stores are being rebranded to just "Pret"^[1]. The company was founded in London in 1986 by friends Sinclair Beecham and Julian Metcalfe who met while studying property law at the Polytechnic of Central London, now the University of Westminster. The company's marketing claims a passion for food, and that all items are made from natural ingredients. The company says that all sandwiches are made on the day of purchase in a kitchen at each location, and that those left unsold at the end of the day are collected by charities that provide food to the homeless. Sandwiches are packaged in cardboard rather than sealed plastic, to emphasize that they are fresh and cannot be kept overnight.

In 2001 McDonald's bought a 33% non-controlling stake in the USA branch of the company. Pret then expanded to New York (10 stores) and Hong Kong (10 stores). Unlike other fast food outlets, Pret A Manger is not a franchise. 85% of their trade is in London, where around three-quarters of their stores are located. It is a private partnership and its accounts are not open to the public.

The menu includes sandwiches, filled baguettes, soup, salad, and coffee. Pret also prepares desserts, such as American muffins, cakes, and croissants.

As of November 2006, there were 155 UK shops, 118 in London.

Pret A Manger's sole Singapore outlet, opened in 2006 and located in the Ogilvy Centre on Robinson Road in the Central Business District, appeared to have closed permanently as of 2 January 2008.

In February 2008 the founders sold Pret a Manger for £345 million to a private equity firm called Bridgepoint and the US investment bank Goldman Sachs; they will however retain 25% of the company with the management^[2].

Staff

In 1998, the company employed 1,400 people, of whom 19% were from Britain and 60% were from other European Union countries, mainly in Eastern Europe. Pret a Manger employ 1 in every 14 applicants. Applicants go on a one-day experience day at a shop and their success is determined by the other staff members who vote the applicant in or not. Many managers and senior executives have come from within the company.^[3]

References

External links

Company website
Guardian article: Mine's a McLatte
Fast Company articles:Recipe for Reinvention

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