Trading Statement ahead of AGM
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
31 October 2022
Chill Brands Group plc
("Chill Brands" or the "Company")
Trading Update ahead of AGM
Chill Brands Group, the international consumer packaged goods company, is pleased to provide an update on trading ahead of its reconvened Annual General Meeting ('AGM') which will be held today at 3.00pm (GMT) at the offices of Allenby Capital Limited, 5th Floor, 5 St Helen's Place, London EC3A 6AB, having previously been adjourned on 29 September 2022.
Highlights
· Online sales of more than $10,000 made during seven days between 18 - 25 October 2022.
· Sustained rate of B2B orders placed directly by independent retail partners via Chill.com wholesale portal.
· Search engine optimisation, conversion rate optimisation, influencer, email and affiliate marketing campaigns underway.
Online Sales Performance
The Chill.com website generated sales in excess of $10,000 during the seven days following its relaunch on 18 October 2022. This represents an increase of more than 75% compared to the weekly average sales for the preceding quarter.
Since relaunching with a refreshed brand image, the UK portion of the Chill.com domain has enjoyed a 605% increase in its conversion rate with its average order value up 8% to £37.11. In the US the site has attracted orders from customers in more than 25 States during the past 14 days, including a number of returning independent retail partners who placed B2B sales orders through the dedicated Chill.com wholesale portal.
While there can be no guarantee of future performance or that sales will continue to grow at this rate, the Company is encouraged by the initial data and expects sales made via its eCommerce channel to increase incrementally over time.
Commencement of Marketing Campaigns
In addition to relaunching its eCommerce site and primary brand, the Company has commenced a number of marketing campaigns that are intended to drive additional traffic to Chill.com.
Chill Brands' is focused on customer acquisition and has engaged with Neil Patel Digital Agency which is widely regarded as one of the world's foremost advisers for Search Engine Optimisation (SEO). It has also begun a range of other campaigns across email, influencer and affiliate marketing to proliferate the Chill brand across a wide range of platforms and consumer touch points.
These efforts form part of Chill Brands' omnichannel marketing strategy through which the Company believes it will be able to generate further opportunities in a sustainable and cost-effective way by improving its web presence and ranking on popular search engines.
Callum Sommerton, Chief Executive Officer of Chill Brands, commented:
"We're delighted with the performance of Chill.com since its relaunch on 18 October. These results are a great endorsement of our decision to refresh our brand and website, which is now equipped to attract, convert and retain consumers.
Our focus has now turned to an array of marketing initiatives that will drive new consumers towards our growing digital sales channel. We still have a long way to go to achieve our ambitions for the Chill.com platform, but this has been a very encouraging start ."
-ENDS-
About Chill Brands Group
Chill Brands Group plc (LSE: CHLL, OTCQB: CHBRF) is an international company concerned with the development, production, and distribution of best-in-class hemp-derived CBD products, tobacco alternatives and other consumer packaged goods (CPG) products. The Company operates primarily in the US, where its products are distributed online and via some of the nation's most recognisable convenience retail outlets. The Group's strategy is anchored around lifestyle marketing that is designed to enhance the popularity of its products, channelling visitors to its landmark chill.com website.
Publication on website
A copy of this announcement is also available on the Group's website at http://www.chillbrandsgroup.com
Media enquiries:
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Chill Brands Group plc |
contact@chillbrandsgroup.com |
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Allenby Capital Limited (Financial Adviser and Broker) |
+44 (0) 20 3328 5656 |
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Nick Harriss/Nick Naylor (Corporate Finance) |
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