Update on Chill.com Marketplace
21 June 2023
Chill Brands Group plc
("Chill Brands" or the "Company")
Update on Chill.com Marketplace
Chill Brands, the consumer packaged-goods distribution company, is pleased to provide an update on the expansion of its Chill.com product marketplace.
Agreement with e-commerce agency
The Company is pleased to have signed an agreement with Valet Seller, a highly respected e-commerce accelerator supporting more than 500 direct-to-consumer brands. The agreement will facilitate the onboarding of numerous additional brands to the Chill.com website.
Valet Seller provides turnkey support and a proprietary software management system that enables brands of all sizes to activate new e-commerce sales channels including Amazon, Walmart.com and Kroger.com. Their work with Chill Brands will provide the Company with ready access to a growing pipeline of new potential brand partners and products that will help the site to scale.
Andrew Michaud, Chief Marketing Officer of Valet Seller, said: "Our collaboration with the Chill Brands team opens up a fantastic opportunity for our brands in the niche space of natural, functional ingredients to leverage the benefits of a category-curated marketplace.
Chill.com's focus on these products allows it to provide a specialized platform that not only reduces competition but also bolsters customer trust and refines marketing efforts. Their concept combines the credibility of a listed company with a great domain name, a growing list of highly engaged customers, and the experience necessary to manage risk in emerging product categories.
We are sure that this partnership will be as beneficial to the growth of Chill.com as it will be to the brands we represent."
Onboarding of new brands
Four additional brands have joined the Chill.com website. Products from Hux nutritional health supplements, Verve energy gum, MindPanda mental health support, and Headstand coffee leaf seltzer are now available for purchase by UK customers. Further agreements have been reached with numerous other brands and their products will be onboarded to the site over the coming weeks and months.
The Company is in the process of negotiating with a number of third-party brands for the assignment of US retail distribution rights. In some cases, these negotiations are expected to result in Chill Brands being granted exclusive retail distribution rights for the relevant products within the United States. This will enhance the service Chill Brands offers to brands while improving its own prospects of generating commissions from product sales made to its retail stores.
Callum Sommerton, Chief Executive Officer of Chill Brands, said: "We are delighted to be working with Valet Seller and are very enthusiastic about the future of the Chill.com marketplace. This partnership will enable us to bring a wealth of exciting new brands to our customers while enhancing the site's commercial prospects.
We are steadily putting in place the infrastructure that will better enable Chill Brands to generate revenues and deliver value for shareholders. The Company will benefit from a diversified business model that encompasses sales of our own-brand CBD-based items and nicotine-free vapour products along with commissions earned from the sale of products from third-party brands."
-ENDS-
About Chill Brands Group
Chill Brands Group plc (LSE: CHLL, OTCQB: CHBRF) is focused on the development, marketing and distribution of wellness and recreational products containing natural, functional ingredients. The Company's proprietary product range is distributed by some of the most recognisable convenience retail outlets in the US and includes nicotine-free disposable vapour products that cater to the rapidly growing market for tobacco alternatives. Chill Brands also operates the chill.com e-commerce website, on which it is building a marketplace of products from third-party brands.
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/Lauren Wright (Corporate Finance) Kelly Gardiner (Equity Sales) |
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