Phivida introduces premium active hemp extract infused functional beverage and supplement line to mainstream retailers in the U.S.
New "Oki" lifestyle brand of products to be sold in up to 2,400 locations
VANCOUVER and SAN DIEGO, CA, Sept. 12, 2018 /CNW/ - Phivida Holdings Inc. (CSE: VIDA OTCQX: PHVAF) ("Phivida"), which offers premium beverages and clinical products infused with active hemp extract, today announced the launch of its "Oki" brand. This new line of functional beverages and supplements are infused with Active Hemp Extract and will be available to consumers in up to 2,400 natural specialty store locations within the United States, in a major distribution channel market-valued at over USD $4.1 billion in retail sales.
Product Features
Oki beverages are infused with 10 mg of active hemp extract per bottle and come in two different formulations: iced teas and flavor-infused water, each ranging in four different 16oz flavors.
Oki supplements are available in tinctures or capsules that range in doses from 600-1800 total mg of Active Hemp Extract.
All products contain non GMO, natural and organic ingredients and are plant based and Vegan friendly and packaged in sleek 100% recyclable glass containers.
"We created the Oki line as a powerful new offering that restores balance and focus to our everyday lives when we need it most – whether during recovery from a workout or getting ready for the day ahead," said Jim Bailey, President and CEO of Phivida. "Following the success of our Vida+ line of full spectrum hemp oil extracts and capsules targeting the clinical market, the Oki launch is the next milestone in our journey to bring premium products to broader consumer and retail audiences."
The initial bottling production run of Oki products was 100,000 units, with an additional 150,000 currently scheduled. Distribution is planned to a broad range of retailers through its exclusive national agreement with Natural Specialty Sales (NSS), an Acosta company and a recognized leader in the U.S. natural/specialty retail channel trade. NSS's national network includes major retail banners such as Whole Foods Market, Sprouts Farmers Market, and National Co-op Grocers. The Oki line of beverages is currently only sold in the U.S.
"The size of the functional beverage market is estimated to be approximately $14 billion and the hemp extract market is poised to explode to $2.1 billion by 2020," said Mike Cornwell, Chief Marketing Officer at Phivida. "We're proud to be able to offer consumers a new line of products that could benefit them, using formats like beverages and supplements, which are relatively unchartered by other companies in our category. We truly are in the midst of very exciting times."
Research-Driven Product Development
As part of the company's ongoing initiatives to transform the lifestyle and natural health foods and beverages sector, Phivida conducted four months of consumer research which uncovered insights into the beliefs, attitudes, motivations, and emotions that drive behavior – as well as growth opportunities, product, ingredient and packaging trends – in the hemp oil functional beverage space.
Key findings from the study included the following:
- Consumers who are aware of the benefits of Active Hemp Extract are most likely to be higher users of functional beverages, consuming an average of 4 products a week, versus only 1.5-2 times a week for those who are unaware of such products
- Active Hemp Extract-aware consumers are most likely to be immersed in more health-conscious lifestyles
- As it relates to preferred beverages, Active Hemp Extract-aware consumers are more likely to list functional beverages as their favorites, and do not tend to use fruit juices, sodas, and other beverages that contain processed ingredients or high levels of sugar
- Active Hemp Extract-aware consumers also prefer simple sleek and clean bottle designs.
- According to the results, the most preferred benefits consumers had for Active Hemp Extract were to reduce anxiety, boost immunity and aid relaxation.
"This research was valuable in advancing and validating our product design," added Mr. Cornwell. "Oki beverages are completely aligned with the preferences of functional beverage consumers with product testing scores as high as 80 percent from our sample group of 1,200 individuals."
More information about the new line of Oki beverages can be found at the New Official Oki website "www.feeloki.com", Instagram and Facebook page "@feeloki" and the official launch video can be viewed on the Oki YouTube page "feeloki".
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]; Investor Relations: Craig MacPhail, NATIONAL Equicom, 416-586-1938, [email protected]; Media Relations: Amie Lauder, NATIONAL Public Relations, 416-586-1943, [email protected]
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