The spread was made from brewer’s yeast and was contained in an amber jar. In 1923, a competition was run to name this delicious new spread. The prize for the name Vegemite was fifty pounds but the name of the winning contestant has since been lost.
Vegemite was not a very big hit in Australia until the Great Depression smacked into the world in 1929.
When the depression hit, parents were concerned about how to pack the most nutrition into the most people for the least amount of money. Vegemite provided a solution, being very high in B vitamins and very inexpensive.
In 1926, the company became known as the Kraft Walker Cheese Company, after the c0ompany merged with American food giant Kraft.
The Kraft Foods has achieved a history of success by doing nothing to the original product and only updating external factors such as packaging and the occasional consumer promotion.
History of Vegemite