Calmer Co (ASX:CCO) grows kava cash flows to over $610k

Calmer Co (ASX:CCO) grows kava cash flows to over $610k

June 5, 2024 Off By Jack Baker

The Calmer Co’s ecommerce sales have leapt by 45 per cent over the past month to $495,000, returning a daily average of $16k to the accounts as the company sells kava products online to customers across Australia and the United States.

Retail sales at Coles Australia have also jumped from 12,000 Calmer Co products in March to 38,000, with total revenue for May to beat $610k.

It marks the biggest jump in 10 months of consecutive online growth, lending credence to CCO’s online strategy and belief in a megatrend of relaxant replacement for dwindling alcohol consumption.

Calmer Co Chief Executive Anthony Noble said the company would continue to prioritise the products and channels with the highest margins and scalability.

“Shopify Australia, Amazon USA and Shopify USA all had record months in May, with our global digital marketing strategy now firing on all cylinders with full stock levels in our warehouses across the board,” he said.

“We continue to see strong sales through Coles Australia and in our Fijian Tourist channel retailers; Jacks of Fiji, Tappoos and Prouds, all of which provide an important way for customers to discover and try our products for the first time.”

Noble said the company was increasingly confident its ecommerce-led strategy with accompanying brick-and-mortar in-store exposure in Australia and the Fiji Islands would show continued success.

“The Shopify USA channel will soon be the major engine for growth in the world’s largest kava market where the regulatory framework supports launching new innovative products in the future,” he expected.

While a fast-growing functional beverage market has largely been dominated by energy drinks, the Queensland-based company saw its own opportunity in the root of a kava plant used across the Pacific as a relaxant for centuries.

After spending significant capital on manufacturing, growing company Calmer Co appears close to hitting the breakeven point and it is now raising up to $2 million ahead of filing its next quarterly report.

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