Phivida Inc. solidifies its presence in key U.S. markets
VANCOUVER and SAN DIEGO, Oct. 1, 2019 /CNW/ - Phivida Holdings Inc. (CSE: VIDA OTCQX: PHVAF) ("Phivida" or the "Company") is excited to share Oki's continued success in the retail space. Following the positive response to the introduction of Oki beverages into the California market, Phivida conducted a sales blitz focused on the greater Los Angeles area. As a result, since the end of August there has been a 150 percent growth in outlets carrying Oki products and the retail presence has grown from two states to three.
"The focus of the market blitz was both to focus on traditional retail accounts as well as specialty retailers that drive brand image and actually generate good sales volume. While focusing on the up and down the street business we are also pleased to announce that we will be launching the Oki brand with two prominent LA-based grocery retailers that service Southern California," said Phivida President and CEO Jim Bailey. "Sales at the outlets will be supported by an extensive sampling program as we have proven to have high success in converting samplers to buyers."
Along with California, the Company anticipates launching the Oki brand in the greater New York City area in the month of October. Currently, a distribution contract is under negotiation, which once executed, will provide immediate sales and distribution. The company is also working closely with its Colorado retail partner to secure a best-in-class distributor to service expansion into Florida. This expansion is a result of the success Phivida has achieved in their multiple Colorado locations. In Texas, Phivida has also been successful in establishing a presence, and through a wholesale partner, Oki beverages are now sold in over 100 outlets in the state.
"The CBD market in the U.S. is changing almost on a daily basis. We strongly believe that the strength of our brand, along with our strong market recognition and solid retail foundation, will position us for lasting success in this market," added Mr. Bailey. "Oki is not just another product in this ever-changing market; it is a great-tasting product with a strong consumer appeal, and we are confident in our ability to become an industry leader in this space."
Oki beverages are available in eight flavors of iced tea and enhanced waters, is also available for online purchase at feeloki.com.
About Phivida Holdings Inc.
Phivida Holdings Inc. is headquartered in Vancouver, BC with operations in San Diego, CA. Phivida is a premium functional food and beverage company focused on whole plant nutrition and natural ingredients that help best maintain overall health and balance in the human body. The company infuses organic active hemp extract into a variety of premium beverages and clinical products for everyday health. Phivida embraces and celebrates a return to organic, natural, plant-based foods and beverages, and a focus on holistic health and wellness. The mission is to help reduce the world's dependence on pharmaceuticals and provide food and beverage choices that allow customers to live a balanced, healthy lifestyle. For more information, visit phivida.com.
SOURCE Phivida Holdings Inc.
Website www.phivida.com, Toll-free +1 (844) 744-6646 (ext. #2), Email [email protected]; Jim Bailey, President and CEO, Phivida Holdings Inc., +1 (844) 744-6646; Investor and Media Relations: Craig MacPhail, NATIONAL Capital Markets, 416-586-1938, [email protected]
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