Plant & Co. (VEGN) announced it saw its YamChops brand post a 689 per cent increase in online plant-based food products sales in the second half of 2020 versus the same period in 2019.
The company attributes the increase in online sales from the YamChops website to local marketing efforts, the increasing popularity of plant-based foods, and the impact of the COVID-19 pandemic.
"While YamChops had a great year in 2020 across its wide selection of plant-based foods, we wanted to highlight the online sales from our website as research shows that both plant-based food and online shopping are two of the fastest-growing segments in the food industry," said Plant & Co. CEO Shawn Moniz.
"YamChops is known for its high-quality foods that taste great, and its customer service that is second to none. Products such as crabless "crab" cakes, Montreal style "steak" and chick*n schnitzel are leading the online sales revolution. We will leverage the success YamChops achieved in 2020 in both business-to-business (B2B) and business-to-consumer (B2C) revenue channels and build on the recent growth in popularity of these healthy meat and dairy product alternatives to expand our newly acquired business."
YamChops is a plant-based butcher shop based in Toronto and bills itself as North America's first plant-based butcher shop.
The company's mission is to provide plant-based foods and deliver extraordinary service to its customers, with a vision to expand its plant-based culinary experience and make YamChops the destination of choice for all consumers.
Plant & Co. acquired various Canadian corporations doing business as YamChops in January 2021.
Plant & Co. (VEGN) shares are down 1.61 per cent on the day, and are trading at C$0.61 at 1:41 p.m. EST.