Iceland boss announces sale of ‘cheapest’ baby formula: ‘I am really proud’

Iceland boss speaks out on decision to slash cost of baby formulaSky News

Transcript

00:00 It's been a spiraling cost of infant formula milk, which is unacceptable in a cost of living crisis.

00:05 The Competition and Markets Authority have found blatant evidence of price gouging. So,

00:10 we wanted to take action. We dropped all of the range of infant formula milk that we do sell to

00:17 cost price, so we don't make any profit out of it. We did that last year. But we've been

00:22 continuing to work with manufacturers. And I'm really pleased to say that two products we launched

00:27 today with SMA, who are obviously a big known infant formula brand, Little Steps First Infant

00:34 Powder and Follow On Powder. It's going to be the cheapest in the market at £7.95, which is £2

00:43 cheaper than their other tub of milk. So, it's the cheapest supermarket baby formula. It's something

00:50 I'm really proud of. Again, we don't make any money out of it. This is the product.

00:55 But it's something that I think will be of real benefit to our customers in the cost

01:00 of living crisis and hopefully, prompt other supermarkets to follow suit.