A week after announcing 44% QoQ revenue growth led by 84% increase in Amazon.com sales, Else Nutrition launches on Amazon.ca
Else launched on Amazon.com in the United States in September 2020, and in less than 2 years grew to an annual business of 4m CAD. In this short period, Else’s offerings grew from a single SKU to three product lines with more than 15 SKUs. In its Q2 2022 financial results Else reported outstanding results on the Amazon platform - 84% QoQ sales increase and doubling its loyal subscriber community on the platform from 1,000 to almost 2,000.
The Else Amazon.ca launch includes a full range of Canadian compliant products with bilingual compliant packaging, including a Toddler nutrition product, Kids shakes in Vanilla and Chocolate flavors, and to be soon followed by Supper Cereals for babies from 6 months and older in a few flavors.
Hamutal Yitzhak, Co-Founder and CEO of Else Nutrition, said: "We are very excited to enter the Canadian market and we believe that Amazon.ca will be a key part of our growth strategy in Canada, as it has been in the United States. Canadian consumers have demonstrated a continued excitement towards our brand, and we are proud to be able to offer them plant-based complete nutrition options for their toddlers and children through the leading e-commerce platform in Canada.
Mrs. Yitzhak continued, “While Amazon.com and our own e-store led our sales growth in the US, followed by strong retail growth, in Canada we expect online and retail sales to grow together, in a true omnichannel fashion, and at a fast pace.”
Canadians have shown a growing propensity to shop online and Amazon.ca is leading the Canadian e-commerce market, with e-commerce net sales of US$9,818 million in 2021. Further, the Canadian online grocery space has shown resilience and growth, as Canadians continue to purchase groceries online post-pandemic. A 2021 study conducted by Leger Research found that consumer demand for plant-based foods is growing in Canada. Recent data shows that two-thirds (67%) of Canadians consume plant-based foods frequently, and 31% of Canadians plan to eat more plant-based foods within the next year.
About Else Nutrition Holdings Inc.
Else Nutrition Holdings Inc. is a food and nutrition company in the international expansion stage focused on developing innovative, clean, and plant-based food and nutrition products for infants, toddlers, children, and adults. Its revolutionary, plant-based, non-soy formula is a clean-ingredient alternative to dairy-based formula. Else Nutrition (formerly INDI) won the "2017 Best Health and Diet Solutions" award at Milan's Global Food Innovation Summit. The holding company, Else Nutrition Holdings Inc., is a publicly traded company, listed on TSX Venture Exchange under the trading symbol BABY and is quoted on the US OTC Markets Q.X. board under the trading symbol BABYF and the Frankfurt Exchange under the symbol 0YL. Since launching its Plant-Based Complete Nutrition for Toddlers, made of whole foods, almonds, buckwheat, and tapioca, the brand has received thousands of powerful testimonials and reviews from parents and gained national retailer support Sprouts Farmers Market, and achieved rapid sales growth. Else became the #1 Best Seller on Amazon in the Fall of 2020 in the New Baby & Toddler Formula Category. It recently won the 'Best Dairy Alternative' Award 2021 at World Plant-Based Expo and was a Nexty Award Finalist at Expo West 2022 in the Plant-Based lifestyle category.
Investor Relations Contact:
Lytham Partners, LLC
Mr. Ben Shamsian
New York | Phoenix
TSX Venture Exchange
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This press release contains statements that may constitute "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "will" or similar expressions. Forward-looking statements in this press release include statements with respect to the anticipated dates for filing the 'company's financial disclosure documents. Such forward-looking statements reflect current estimates, beliefs, and assumptions, which are based on management's perception of current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. No assurance can be given that the foregoing will prove to be correct. Forward-looking statements made in this press release assume, among others, the expectation that there will be no interruptions or supply chain failures as a result of COVID 19 and that the manufacturing, broker, and supply logistic agreement with the company does not terminate. Actual results may differ from the estimates, beliefs, and assumptions expressed or implied in the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which reflect management's expectations only as of the date of this press release. The company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
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