BioHarvest Sciences Inc. (CSE:BHSC, OTC:CNVCF) announced that it has surpassed US$1 million in sales for its VINIA Superfood Coffee and Decaf Coffee, its “functional” coffee product line integrating its flagship red-grape-based nutraceutical product VINIA.
The company’s VINIA Superfood Coffee is made with 100% Arabica beans and its flagship VINIA mix of red grape polyphenols, which BioHarvest highlighted improve physical energy and mental alertness via increased dilation of the arteries and blood flow when consumed every day for 90 days.
In the first full quarter since introducing VINIA coffees, the first quarter of 2024, the company saw its gross profit surge to US$3 million from US$0.8 million in the year-ago quarter.
"Our strategy to enter major categories seeking innovation, where consumers are demanding more functionality and health and wellness solutions, has been validated by the strong sales of our recently launched VINIA Superfood Coffees with its Superior Science, Superior Efficacy and Superior Taste strategy," BioHarvest Sciences CEO Ilan Sobel commented.
“We have made significant progress in just a few months in our efforts to gain market share in the Functional Coffee market, amid rising consumer demand for coffee solutions with increased health benefits. VINIA Hot Beverages expands usage occasions for VINIA, increases our user base with younger audiences, and provides higher gross profit per equivalent unit.”
Sobel attributed the $1 million sales milestone for VINIA Superfood Coffee to the company’s direct marketing and sales platform.
“We believe its rapid success will power additional monthly sales gains in the months to come as we grow our Hot Beverage portfolio and Product Business Unit," Sobel said.
"Looking ahead for the Hot Beverages business, we expect to add new Nespresso compatible pods with VINIA Superfood Coffee before year-end, which has received blind taste test parity with a major Nespresso line amongst espresso coffee drinkers.”