Else Nutrition Holdings Inc (OTCQX:BABYF, TSX-V:BABY) said that it will proceed with an online distribution agreement with Walmart.com by November 2021 with the launch of its Plant-Based Complete Nutrition product range for Toddlers and Kids.
The Israel-based food and nutrition company announced the Walmart.com distribution agreement in August and has since added additional listings, including Complete Nutrition Shakes for Kids.
READ: Else Nutrition signs online distribution agreement with Walmart and will be expanding into its eCommerce marketplace by Q4, 2021
“This is another great development for the company, enabling Else to market both our Toddler and Kids product line on one of the world’s largest online marketplaces,” CEO and co-founder, Hamutal Yitzhak said in a statement.
“Not only will this further accelerate our already rapid growth of online sales, but it also serves as a paramount piece to the introduction of our Kids product line to the wanting families from coast to coast,” she added.
The company noted that Walmart.com’s traffic was much higher than pre-pandemic levels, with a 48% increase compared to the same quarter two years ago. Online shopping, particularly in the grocery and fast-moving consumer goods (FMCG) segment, has undergone a surge in popularity due to the pandemic, it added.
According to eMarketer, Walmart’s US e-commerce sales prior to the pandemic were $30 billion and are projected to hit over $64 billion by the end of 2021. During the year, sales have grown through increased customer demand for eating at home and entertaining.
Else Nutrition is 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.
The company - formerly INDI - won the "2017 Best Health and Diet Solutions" award at the Global Food Innovation Summit in Milan. Else Plant-Based Complete Nutrition for Toddlers was recently ranked as the #1 Top Seller in the baby and toddler formula category on Amazon.
Contact the author at stephen.gunnion@proactiveinvestors.com