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Better Choice anticipates 2021 international sales will total $14 – $15 million, exceeding contracted minimums and representing a 65% - 70% year-over-year increase
NEW YORK, Dec. 15, 2021 (GLOBE NEWSWIRE) -- Better Choice Company (NYSE: BTTR) (the “Company” or “Better Choice”), a pet health and wellness company, today announced that consumers purchased $2.6 million of Better Choice branded product during Singles Day. Singles Day, also known as Double 11, is the largest online shopping event in the world and takes place in China each year in the weeks leading up to November 11th. Relative to Singles Day 2020, end-consumer purchases of Halo products increased more than 4-fold, driven primarily by significant new customer acquisition.
Better Choice expects 2021 full year international sales to total $14 million - $15 million, representing a 65% - 70% year-over-year increase relative to 2020 sales of $8.6 million. The Company previously announced aggregate minimum purchases with key Asian distribution partners totaling more than $100 million in sales from 2021 – 2025 and has exceeded its year one target for 2021.
Rob Sauermann, Executive Vice President – Strategy commented, “We are very pleased with the continued growth we are experiencing in Asia, which has been driven in part by the doubling of household pet ownership in China over the last decade. Our Singles Day performance is a confirmation of our brand loyalty and a testament to our strong partnership with Penefit, who lead our sales and marketing efforts in China. We are looking forward to continuing to execute our growth strategy in 2022 and are constantly evaluating new and exciting ways to partner with our international consumers.”
To accelerate growth, Better Choice is deploying unique marketing strategies in Asia that highlight the premium nature of the Halo Brand and emphasize its mission driven approach, including its partnership with a well-known Chinese model and international fashion icon.
“Our brand partnership strategy communicates quality to the Chinese consumer and connects directly with our younger, millennial and gen-z customers. As an authentic, mission driven pet lover, his message that ‘Every Pet has its own Halo’ links directly to our identity as a brand worldwide,” said Scott Lerner, CEO of Better Choice.
About Better Choice Company Inc.
Better Choice Company Inc. is a rapidly growing pet health and wellness company committed to leading the industry shift toward pet products and services that help dogs and cats live healthier, happier and longer lives. We take an alternative, nutrition-based approach to pet health relative to conventional dog and cat food offerings and position our portfolio of brands to benefit from the mainstream trends of growing pet humanization and consumer focus on health and wellness. We have a demonstrated, multi-decade track record of success selling trusted pet health and wellness products and leverage our established digital footprint to provide pet parents with the knowledge to make informed decisions about their pet’s health. We sell the majority of our dog food, cat food and treats under the Halo and TruDog brands, which are focused, respectively, on providing sustainably sourced kibble and canned food derived from real whole meat, and minimally processed raw-diet dog food and treats. For more information, please visit https://www.betterchoicecompany.com.
Cautionary Note Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Further information on the Company’s risk factors is contained in our filings with the SEC. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Better Choice Company, Inc.
Scott Lerner, CEO
KCSA Strategic Communications
Valter Pinto, Managing Director