LeanLife Health Inc (CSE:LLP) (OTC PINK:LHLNF) (FRA:LL1) announced Wednesday that it has ordered an additional ten containers of Mike Tyson-branded Iron Energy from FoodCare Group in anticipation of strong US sales over the next few months.
The company plans to have a starting inventory of 1 million cans to put into its retail and online channels as part of an aggressive sales rollout.
"Given the positive response from major American retailers, the company felt compelled to order these additional ten containers,” LeanLife CEO Stan Lis said in a statement. “We have projected ordering a minimum of 140 containers for the American market in 2021. We aim to also enter additional markets as the year progresses."
READ: LeanLife inks management consulting deal with Big Venture Sales to start online sales of Mike Tyson-branded Iron Energy
LeanLife noted that suppliers are now required to use enterprise resource planning (ERP) software with electronic data interchange (EDI) connections, which allows for purchase orders and invoices to be seamlessly exchanged.
To that end, the company purchased Microsoft Dynamics GP software, which it plans to commission and go live with this quarter to meet the requirements of major US national retailers. Microsoft Dynamics GP is a mid-market business ERP software package that has localizations for additional countries in South America, UK and Ireland, the Middle East, Singapore, Australia and New Zealand, the company said.
"The major benefits of EDI are speed, accuracy and demand,” COO Gavin Mah said. “EDI can speed up transaction processing over 50%, while reducing the chance of human error. Large retailers insist on EDI to make product purchases."
Iron Energy is a market leader in Poland's energy drink market and is a leading brand in the Middle East, the company said. LeanLife believes the product will also appeal to North American consumers and quickly gain retail acceptance.
The annual market value of the combined US and Canadian energy drink markets is estimated at more than US$14 billion. Red Bull is the market leader, followed by Monster and Bang. While Red Bull pursues a premium price strategy, the company noted previously, LeanLife will be aggressively priced and shelf-positioned to appeal to a broad consumer base.
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