VANCOUVER: Komo Plant Based Foods (CSE: YUM) announced that it’s February revenue catapulted to over $100k, a full 46% increase over Komo’s previous best month of sales in December 2021.
“We are extremely proud of the momentum that the brand is gaining, and we have been focused not only on driving immediate sales, but also on laying the foundation for sustainable growth by strategic expansion of our distribution network, and customer-centric new product development,” said William White, CEO of Komo.
“We have an aggressive expansion strategy that we are implementing for the U.S. retail market, while also continuing to expand our distribution throughout Canada.”
Since shipping its first pallet to the Quebec and Ontario markets at the beginning of this year, the brand is now available for sale throughout Quebec and Ontario in 40 locations, with agreements signed for 60 additional distribution points. This includes mainstream grocery stores such as Metro in Quebec, Sobey’s franchises such as Foodland in Ontario, and specialty natural food retailers throughout Ontario including Ambrosia and Fiesta Farms.
Komo also delivered its first order to GTFO It’s Vegan, a major plant-based eCommerce platform that is bringing Komo’s products to consumers across the U.S.
“Just one year ago, we launched in our home market of Vancouver, and now we are serving customers across North America,” added White. “Our customers are at the heart of everything we do, and their feedback is an essential component of our product development process.
This focus on the customer has paid off, and in less than one year, we have received over 200 verified five-star buyer reviews online.”
The Company’s gross profit margin was at 35% during the most recently reported quarter ended October 31, 2021. The Company anticipates its gross margin to decrease slightly, but remain healthy as the Company focuses more resources on expansion efforts through wholesale channels, which deliver lower margins, but enable the company to earn greater market share and achieve other economies of scale.
