Positioning for Significant Growth VANCOUVER, British Columbia, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Simply Better Brands Corp. ("SBBC" or the "Company") (TSX Venture: SBBC) (OTCQB: PKANF) announces business updates that SBBC feels position the Company for significant growth fueled by accelerated customer acquisition, new distribution and geographic expansion.
SBBC includes a portfolio of emerging brands focusing on health and wellness for Millennials and Generation Z in the rapidly growing plant-based, natural, and clean ingredient space. The Company’s brands are distributed through both its e-commerce platforms as well as brick and mortar retail channels. SBBC’s key brands are PureKana (CBD Wellness), TRUBAR (plant-based protein bars) and No B.S. Skincare (clean ingredient skin care).
SBBC is pleased to provide the following commercial highlights driving growth and expansion:
- SBBC’s largest market is in the United States. However, SBBC has secured in-country strategic partners to expand into Latin America, Mexico, and Western Europe in Q4 2021.
- After its initial entry in Costco Canada earlier this year, TRUBAR has now entered the U.S. Market with Costco. Early TRUBAR sales significantly exceeded the bar category benchmark driving re-orders and additional regional expansion yet this year. To drive continued trial and awareness, TRUBAR also enters 7-11 in the Canadian market.
- PureKana CBD launched a new customer acquisition strategy based on data-science. The demonstrative acceleration of consumers engaging with the brand is driving a 300% increase in early Q4 sales vs. trend. Following the consumer, PureKana also launched single-serve OTC gummies and a discreet oral CBD strip.
- Leveraging its recent acquisition of Crisp Management Group, PureKana executed its inaugural event as the exclusive CBD brand at Breakaway Music Festivals.
- No B.S. Skincare entered the Indian market via Nykaa, a premium omni-channel beauty and wellness retailer, sometimes referenced as the Sephora of India.1
- No B.S. Skincare launches innovation with a Rejuvenating Niacinamide Elixer with Hyaluronic Acid and Chamomile Extract formulated to soften fine lines and wrinkles, minimize the look of pores and reduce hyperpigmentation.
- We are pleased to announce an increase in the expected growth in SBBC's wellness sector (PureKana) from 18-20% growth in the second half of 2021 which we reported on August 30, 2021 to new guidance of 58% sales growth in the wellness sector over the first half of 2021.
- We are also pleased to announce expected sales growth for SBBC in the second half of 2021 compared to the first half of 2021 of 93%. This sales growth increase includes PureKana, No BS and Tru Brands.
https://www.globenewswire.com/news-release/2021/10/20/2317420/0/en/Simply-Better-Brands-Corp-Positioning-for-Significant-Growth-Fueled-by-Customer-Acquisition-New-Distribution-and-Geographic-Expansion.html