Latest news with #VivienWong
Forbes
19-05-2025
- Business
- Forbes
How Vivien Wong Turned Little Moons Into A $66M Mochi Empire
Vivien Wong of Little Moons Vivien Wong didn't set out to become a category creator. She wasn't chasing fame or funding when she co-founded Little Moons with her brother in 2010—just an idea that ice cream, when wrapped in pillowy mochi, might just taste better than anything else on the market. Over the next decade, that quiet conviction built into a global brand stocked in 34 countries, with revenues climbing from £10 million [$13.3 million] to £50 million [$66.7 million] in a two-year timeframe alone. This year, it also earned her a nomination for the coveted Veuve Clicquot Bold Woman Award—recognition not just for breaking into the freezer aisle, but for reshaping it. But Wong's path into food was far from linear. 'I studied Economics at the University of Reading before starting my career at Barclays, where I qualified as a chartered accountant,' she says. While her early career was firmly corporate, the seed of entrepreneurship had been planted long before. 'My parents, first-generation immigrants from Asia, were a huge inspiration,' Wong continues. 'In 1990, they opened a successful Asian bakery in North London and—although my mother encouraged me to forge my own path—from a young age, I admired the sense of purpose and satisfaction that came with building something from the ground up.' Food was always in the picture, but it wasn't until a decade ago that the siblings began actively exploring what a family business of their own might look like. They noticed a shift in the way people in the UK were consuming Japanese cuisine: the savoury dishes were evolving, but dessert felt like an afterthought at the time. 'We had always loved the traditional Japanese mochi our parents made with red bean paste, and on our travels in Japan and the U.S., we discovered mochi filled with ice cream,' she says. 'That was the 'aha' moment: what if we gave mochi a modern British twist by using ice cream as the filling?' Little Moons ice cream mochi That simple twist—a fusion of childhood nostalgia and global curiosity—became the foundation for Little Moons. But the process was anything but simple. There were no machines for making mochi at scale in the UK. No freezer-snack category to plug into. 'We spent two years developing the product, with no existing machinery to rely on,' she says. 'Every milestone felt massive: hiring our first employee, securing our first restaurant listing, developing retail packaging.' Of course, that incremental approach paid off. The product landed first with chefs and restaurants, later with retailers, and, come 2021, everything changed—not through traditional advertising or investor backing, but via TikTok. What started as a few users posting 'Little Moons hunts' in supermarket aisles quickly became a viral movement. '#littlemoons reached over 500 million views,' Wong says. 'That viral moment accelerated our growth, drove new listings, and turned us into a global brand.' Behind the scenes, it was chaos. 'Overnight, demand surged by 1000%, but pandemic restrictions limited our ability to scale production. We faced a global shortage of packaging materials, supply chain delays, and staffing challenges.' Even as the business ballooned, Wong and her team kept production in-house and scrambled to maintain culture during a period of explosive growth. 'Our team tripled in size almost instantly… but we pulled through and grew revenue from £10 million [$13.3 million] to £50 million [$66.7 million] in just two years, still producing everything in-house.' That decision—to build slowly, to maintain control—has com to define the way Little Moons approaches growth. The company was self-funded for many years, only taking on external investment in 2022. 'We only brought in external investment once we had a clear vision for the next phase of growth,' Wong explains. Little Moons products Today, the company is no longer just synonymous with mochi ice cream. It has expanded into new formats—including Cheesecakes and Refreshos, ice cream mochis' sorbet-packed sister—and helped define a new consumer habit. 'Now, when people reach into the freezer for a bite-sized mochi instead of a chocolate bar or biscuit, that's a real mark of how far we've come.' But introducing something new, she points out, doesn't happen overnight. 'That's what people often misunderstand about innovation in food—that it takes time. A lot of time. From product development to consumer adoption, innovation doesn't happen overnight. We introduced something entirely new—a different product, a new format, and an entirely new way of thinking about frozen snacks. It took 12 years of consistent effort to build Little Moons into a category leader, success doesn't happen overnight, but your moment could!' That slow, strategic approach also helped Little Moons achieve B Corp certification in 2023. 'It reflects our commitment to creating 'little lifts, crafted without compromise' for our global fanbase,' Wong says. 'B Corp standards guide us as we work to reduce our carbon footprint, improve ingredient sourcing, and empower our employees. It's not just a certification—it's a roadmap for sustainable growth.' As the brand scales, so too has Wong's definition of boldness. 'In the early days, boldness meant believing in your vision, even when others didn't,' she says. 'We were told repeatedly that people wouldn't understand mochi. But we saw early signs of success and kept building on them.' These days, boldness looks more like leadership: trusting others, hiring well, stepping back when needed. 'Being bold also meant instilling that belief in our small team 'Now, I see boldness in using my experience to mentor other founders and contribute beyond Little Moons.' Personally, Wong's next chapter includes carving out space to tell that story more openly. 'Looking ahead, I feel a growing sense of purpose in sharing more of my journey — not for recognition, but in the hope that it might resonate with and encourage other women who are considering an entrepreneurial path,' she says. 'You can't be what you can't see.' Vivien and Howard Wong, founders of Little Moons
Yahoo
20-04-2025
- Business
- Yahoo
Many retailers ‘trying to replicate our product', viral mochi brand says
London-based mochi ice cream maker Little Moons has said international markets are key to its growth, as the once-viral brand faces squeezed UK consumers and fends off supermarkets rolling out own-brand versions. Co-founder Vivien Wong said manufacturers around the world were racing to replicate the sweet treat. Little Moons, which makes mochi balls – ice cream, wrapped in soft and chewy rice dough – was founded in 2010 by Ms Wong and her brother Howard, and has grown to generate a turnover of more than £50 million. It experienced a sudden surge in popularity when it went viral on video-sharing platform TikTok during the Covid pandemic, with users rushing to find the dessert amid limited supply. Ms Wong described the period as the 'best of times and the worst of times', with the business having to quickly grow its factory and production capabilities to keep up with the boom in demand. She said it was a 'huge risk' to upscale but that the business had managed to maintain growth since, and the product can now be bought in supermarkets across the UK including Tesco, Sainsbury's, Waitrose, Ocado, and Asda. It also exports to about 35 countries around the world, not including the US. Ms Wong told the PA news agency that the sales environment had been 'tougher' in the UK, where consumers have been squeezed by the cost-of-living crisis. 'The UK has been hit harder than any other country that we supply,' she said, adding that it is 'really hard out there' for consumers. 'The UK is our home market and it's still really important for us, but we also have 35 other international markets that we're developing to help our growth.' The founder, who is one of three finalists for this year's prestigious Veuve Clicquot Bold Woman Award, said there had been plenty of competitors springing up in the market. 'We have definitely seen lots of competition come in,' she told in PA. 'Lots of larger own-brand manufacturers around the world have seen our success and are trying to replicate our product.' Fast-growing discounted supermarkets Aldi and Lidl, as well as Marks & Spencer, are among those to have brought out their own-label ice cream mochi balls. In a high-profile case, Aldi lost a trademark battle against Thatchers over its cloudy lemon cider, after the Somerset-based brewer sued the supermarket for infringement. Ms Wong said it would be a 'fool's errand' to try to legally challenge supermarkets over their mochi balls – largely because they have not attempted to copy her business's branding. Meanwhile, she said Little Moons – which currently sells for about £4.50 a box – had stayed the same in terms of the size of the box since coming to supermarkets. 'Other ice cream brands have been able to benefit from shrinkage – they've shrunk their products,' she told PA. 'We haven't been able to benefit from the tricks that I guess multinationals are able to have up their sleeve. 'I think a lot of difficulty is getting consumers to understand what a really good quality product is and why it costs so much,' she said, with the company being impacted by things such as rising milk prices and chocolate shortages. Little Moons, which was initially self-funded by the founders, sold a 'significant' minority stake to US private equity firm L Catterton in 2022. It also brought in former Graze boss Joanna Allen as its new chief executive last year.
The Independent
20-04-2025
- Business
- The Independent
Many retailers ‘trying to replicate our product', viral mochi brand says
London-based mochi ice cream maker Little Moons has said international markets are key to its growth, as the once-viral brand faces squeezed UK consumers and fends off supermarkets rolling out own-brand versions. Co-founder Vivien Wong said manufacturers around the world were racing to replicate the sweet treat. Little Moons, which makes mochi balls – ice cream, wrapped in soft and chewy rice dough – was founded in 2010 by Ms Wong and her brother Howard, and has grown to generate a turnover of more than £50 million. It experienced a sudden surge in popularity when it went viral on video-sharing platform TikTok during the Covid pandemic, with users rushing to find the dessert amid limited supply. Ms Wong described the period as the 'best of times and the worst of times', with the business having to quickly grow its factory and production capabilities to keep up with the boom in demand. She said it was a 'huge risk' to upscale but that the business had managed to maintain growth since, and the product can now be bought in supermarkets across the UK including Tesco, Sainsbury's, Waitrose, Ocado, and Asda. It also exports to about 35 countries around the world, not including the US. Ms Wong told the PA news agency that the sales environment had been 'tougher' in the UK, where consumers have been squeezed by the cost-of-living crisis. 'The UK has been hit harder than any other country that we supply,' she said, adding that it is 'really hard out there' for consumers. 'The UK is our home market and it's still really important for us, but we also have 35 other international markets that we're developing to help our growth.' The founder, who is one of three finalists for this year's prestigious Veuve Clicquot Bold Woman Award, said there had been plenty of competitors springing up in the market. 'We have definitely seen lots of competition come in,' she told in PA. 'Lots of larger own-brand manufacturers around the world have seen our success and are trying to replicate our product.' Fast-growing discounted supermarkets Aldi and Lidl, as well as Marks & Spencer, are among those to have brought out their own-label ice cream mochi balls. In a high-profile case, Aldi lost a trademark battle against Thatchers over its cloudy lemon cider, after the Somerset-based brewer sued the supermarket for infringement. Ms Wong said it would be a 'fool's errand' to try to legally challenge supermarkets over their mochi balls – largely because they have not attempted to copy her business's branding. Meanwhile, she said Little Moons – which currently sells for about £4.50 a box – had stayed the same in terms of the size of the box since coming to supermarkets. 'Other ice cream brands have been able to benefit from shrinkage – they've shrunk their products,' she told PA. 'We haven't been able to benefit from the tricks that I guess multinationals are able to have up their sleeve. 'I think a lot of difficulty is getting consumers to understand what a really good quality product is and why it costs so much,' she said, with the company being impacted by things such as rising milk prices and chocolate shortages. Little Moons, which was initially self-funded by the founders, sold a 'significant' minority stake to US private equity firm L Catterton in 2022. It also brought in former Graze boss Joanna Allen as its new chief executive last year.
Yahoo
19-04-2025
- Business
- Yahoo
HashKey Capital to Debut Asian XRP Tracker Fund With Ripple as Anchor Investor
HashKey Capital announced what it says is the first investment fund in Asia designed to track the performance of XRP, the digital asset used in Ripple's global payment infrastructure. The new fund, called the HashKey XRP Tracker Fund, will be open to professional investors and will allow exposure to XRP without the need to manage the asset directly. It will offer the ability to buy through cash and in-kind subscriptions, and offers monthly liquidity. Ripple will be an early backer of the fund. The investment deepens its strategic ties with HashKey, which already has Hong Kong-listed spot ETFs for bitcoin (BTC) and ether (ETH). The company will continue to partner with Ripple on additional financial products, Vivien Wong, a partner at HashKey Capital, said in a statement. One possibility includes tokenizing a money market fund on the XRP Ledger. Ripple's Asia-Pacific managing director Fiona Murray said the partnership with HashKey is part of a broader push to bring more regulated crypto products to institutions in the region.
Yahoo
19-04-2025
- Business
- Yahoo
HashKey Capital to Debut Asian XRP Tracker Fund With Ripple as Anchor Investor
HashKey Capital announced what it says is the first investment fund in Asia designed to track the performance of XRP, the digital asset used in Ripple's global payment infrastructure. The new fund, called the HashKey XRP Tracker Fund, will be open to professional investors and will allow exposure to XRP without the need to manage the asset directly. It will offer the ability to buy through cash and in-kind subscriptions, and offers monthly liquidity. Ripple will be an early backer of the fund. The investment deepens its strategic ties with HashKey, which already has Hong Kong-listed spot ETFs for bitcoin (BTC) and ether (ETH). The company will continue to partner with Ripple on additional financial products, Vivien Wong, a partner at HashKey Capital, said in a statement. One possibility includes tokenizing a money market fund on the XRP Ledger. Ripple's Asia-Pacific managing director Fiona Murray said the partnership with HashKey is part of a broader push to bring more regulated crypto products to institutions in the region. Sign in to access your portfolio
