Else Nutrition Holdings Inc (OTCQX:BABYF, TSX-V:BABY) continues its bid to become a global brand in the health nutrition space, the firm said, as it outlined key sales growth drivers for 2022.
The Israel-based company develops plant-based food and nutrition products for infants, toddlers, children, and adults, and noted that in the fourth quarter this year, it will start selling products on Walmart’s and Kroger’s online platforms, including its Kids Shakes.
Kids Shakes launched on Amazon in September 2021, and monthly sales are growing at a rate of 10% month-on-month (MoM) with 60% repeat purchases with over 650 subscribers and are expected to accelerate as the product range grows substantially in 2022, Else also noted.
In 2022, Else plans to expand sales to more than 4,000 retail stores and continue to add to its product range. During next year, the company's product range will grow to over ten and over 20 stock keeping units (SKUs) in the US, while a product range is also planned for the Far East, Europe, and Canada.
In Canada, Else plans in 1Q 2022 to launch three products - Toddler Drink (powder), non-organic; Kids Drinks (powder), non-organic, in flavors; Super Cereal, organic, in flavors.
READ: Else Nutrition expands product offerings on iHerb to include plant-based kids shake mix
Meanwhile, Else will continue to sell on its e-store and will also add a Canadian e-store, and build a US-based Health Care Practitioner (HCP) team.
In terms of marketing, Else said its plans include growing its Instagram to 100,000 brand followers and expanding its influencer partnerships to "mega-star" levels. It will also target paid online campaigns to support the Else retail stores launch.
"We are very excited with the plans for continued growth in North America and the launch of Else in additional countries in the upcoming year”, said Hamutal Yitzhak, CEO and co-founder of Else Nutrition.
"We will continue to add clean whole foods-based products to our range as we look to become a global brand in the Health Nutrition space."
Contact the author at giles@proactiveinvestors.com