Vejii Holdings (CSE:VEJI, OTCQB:VEJIF) Ltd has announced that its consolidated revenue guidance for the 2022 fiscal year is anticipated to be between C$10 million and C$12 million, as the company has begun integrating the teams and operations of its recent Veg Essentials LLC and VEDGEco USA, Inc acquisitions.
Vejii also said it expects gross margins for the consolidated business to be between 35% and 40%.
“As we start 2022, Vejii and its new expanded team have started working on key synergies and developing a consolidated business plan to push toward operational profitability, and I am pleased with the plan that the team has put together, as these are the first steps towards leveraging our new size and scale,” Vejii Holdings (CSE:VEJI, OTCQB:VEJIF) CEO Kory Zelickson said in a statement.
READ: Vejii announces launch of Actual Veggies plant-based burgers on ShopVejii.com
Vejii president Darren Gill also commented, stating: “With the closing of our two acquisitions and organic growth through our marketplace and sales channels, we feel that we are well-positioned for strong performance through 2022 as a unified company.”
Vejii noted that since going public it has acquired Vegan Essentials and VEDGEco, bringing together a complete business-to-business (B2B) and business-to-consumer (B2C) platform for its brand partners.
The company said that it has begun consolidating operations for improved margins and operational efficiencies, which includes key synergies such as warehouse consolidation, inventory rationalisation and cross-selling of products across Vejii's platform, helping drive improved margins, increased basket prices, reductions in shipping and third-party costs and improved purchase pricing through scales of economy.
Vejii is a unified digital marketplace and fulfillment platform featuring thousands of plant-based and sustainable-living products from a growing list of hundreds of vendors.
The platform offers an easy-to-use, omnichannel experience for both vendors and buyers, leveraging big data and artificial intelligence to elegantly connect brands with a targeted consumer base, both organically and through specialized marketing programs.
Contact Sean at sean@proactiveinvestors.com