Enlightened Hospitality Investments (EHI) Invests $10M in Chip Metropolis Cookies

Co-founders Peter Phillips and Teddy Gailas accomplice with funding group to speed up progress plans to scale connoisseur cookie idea past New York Metropolis and strengthen model place inside the aggressive cookie section.

(RestaurantNews.com) Enlightened Hospitality Investments (EHI), the expansion fairness fund related to Danny Meyer’s Union Sq. Hospitality Group (USHG), has invested $10 million in New York-based Chip City Cookies, a connoisseur cookie model that rotates its flavorful and sizeable cookies on a weekly foundation.

“At EHI, we’re at all times in search of companies which have created craveable merchandise and have earned a tribe-like following. Chip Metropolis checks each of these containers in a big means,” stated Meyer, a co-founder and Managing Companion of EHI. “Past the cookies, which converse for themselves, we’re excited to help the expansion aspirations of the passionate group behind Chip Metropolis, who exemplify our values of hospitality and group.”

The funding from EHI is icing on the sugar cookie for the Chip Metropolis group. EHI’s funding will present Chip Metropolis with not solely capital but additionally deep experience in quick informal retail operations and an unparalleled give attention to hospitality and other people. EHI gives strategic and operational steering in partnership with the group at USHG, which operates a few of the nation’s most beloved and acclaimed eating places, together with Union Sq. Cafe and Gramercy Tavern, and based Shake Shack in 2004.

“That is one other unbelievable validator for the model and the enterprise mission we’ve – to make communities smile by means of the standard of our merchandise and to make our staff really feel function of their communities,” stated Peter Phillips, founder.

Born in Astoria, Queens in 2017, Chip Metropolis Cookies started as a passion between childhood mates Phillips and Teddy Gailas, because the duo challenged one another on who might make one of the best cookie. A small storefront, some gear, and a dream led the entrepreneurial group to take heed to that suggestions and open retailer one.

Immediately, Chip Metropolis presently has 14 areas throughout Manhattan, Brooklyn, Queens and Lengthy Island with plans to enter into new markets, together with New Jersey and Florida. The funding will assist help the model’s multi-state enlargement and progress of its direct-to-consumer enterprise, bolstered by its ship-anywhere partnership with Uber Eats.

“This funding and partnership provides us the instruments to speed up our progress technique,” Gailas stated. “It wasn’t simply the cash that was enticing about this deal, it was the affiliation and mentorship from leaders who’ve finished this earlier than.”

For extra details about Chip Metropolis Cookies, go to www.chipcitycookies.com. Comply with Chip Metropolis Cookies on Facebook and Instagram.