Sol Cuisine Announces Initial Launch of E-Commerce Capabilities
- Expands coverage nationally across Canada and the U.S., making it easier for consumers to find Sol Cuisine products locally, or purchase products online through any one of several established e-commerce platforms.
- Will enhance the Company's customer conversion rate as it steadily builds its marketing investments.
MISSISSAUGA, ON, July 14, 2021 /CNW/ - Sol Cuisine Ltd. ("Sol Cuisine" or the "Company") (TSXV: VEG) a growth-oriented North American plant-based protein leader, today announced that it has launched initial e-commerce capabilities in partnership with Destini™ Global, LLC ("Destini"), a leading provider of digital solutions to innovative CPG brands in North America, powered by a powerful store-level database and tool set. Available at solcuisine.com, these initial capabilities include: a product locator, to help customers locate Sol Cuisine products in nearby stores; and an e-commerce link to eight established sites where customers can purchase Sol Cuisine products directly. In Canada, solcuisine.com will link to: Voila, Loblaws, Instacart, Real Canadian Superstore, Safeway, SaveonFoods, Maxi, Cornershop, and Vejii. In the U.S., solcuisine.com will link to: Instacart, Cornershop, and Vejii.
In addition to these consumer-facing capabilities, the Destini platform includes a robust suite of consumer demand analytics, which will enable Sol Cuisine to map consumer interest, track search results and match the launch of new or additional SKUs in areas that align with consumer demand based on hard data.
John Flanagan, CEO of Sol Cuisine commented, "As we continue to invest in marketing and the expansion of our distribution network, online-initiated orders and new channels such as e-commerce will be critically important capabilities in our broader toolkit. Our marketing efforts have resulted in strong growth in customer inbounds, and we are now positioned to handle these inquiries efficiently, drive consistent growth in customer conversion rates and generate solid returns on our marketing spend. With a robust portfolio of differentiated centre-of-plate offerings that are taste preferredi and nutritionally superiorii vs. other leading plant-based brands in the market, we fully expect to continue growing revenue as we get Sol Cuisine products in front of more consumers, both in-store and online."
For more details, visit Sol Cuisine's IR website at: investors.solcuisine.com or contact the IR team at [email protected].
About Sol Cuisine Ltd.
Sol Cuisine is the publicly traded parent company of Sol Cuisine Inc. following the completion of its "qualifying transaction" on May 19, 2021. Sol Cuisine is a fast-growing producer of branded, consumer-preferred plant-based protein offerings across key center-of-plate and appetizer categories. The Company's products are offered through an established omni-channel distribution platform in Canada and the U.S. and are available in over 11,000 stores and more than 41,000 unique points of distribution. Over a history of 20+ years, Sol Cuisine has consistently demonstrated an ability to innovate and delight consumers in Canada and the U.S., while remaining true to its commitment to producing great tasting products that are nutritionally superior both to meat-based offerings and to competitive plant-based products. This commitment has resulted in several Canadian product wins, including the #1 frozen plant-based burger in Canada, the #1 consumer-preferred chicken alternative and the #1 quality roast product as determined by Whole Foods Market. The Company's taste and nutritional superiority has also resulted in private label contracts with some of the most recognized natural brands in North America. These products are all produced at Sol Cuisine's two state of the art facilities, totaling 35,000 square foot facility in Mississauga, Ontario, capable of supporting up to 10 million kilograms of volume per annum.
For more details on Sol Cuisine's consumer brands:
Website: www.solcuisine.com
Instagram: @solcuisine
Facebook: @solcuisine
Twitter: @solcuisine
LinkedIn: @solcuisine
Forward Looking Statements
This press release includes forward-looking information within the meaning of Canadian securities laws regarding the Company and its business. Often but not always, forward-looking information can be identified by the use of words such as "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of each entity, and are based on assumptions and subject to risks and uncertainties. Although the management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this press release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, including risks regarding the size of the industry, the growth of the market for the Company's products, the rate and quantity of production at the Company's facilities, market conditions, economic factors, management's ability to manage and to operate the business of the Company and the equity markets generally. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
The TSX Venture Exchange has not reviewed, approved, or disapproved the content of this news release.
John Flanagan
Chief Executive Officer
905-502-8500
Forward Looking Statements
This press release includes forward-looking information within the meaning of Canadian securities laws regarding the Company and its business. Often but not always, forward-looking information can be identified by the use of words such as "expect", "intends", "anticipated", "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would" or "will" be taken, occur or be achieved. Such statements are based on the current expectations and views of future events of the management of each entity, and are based on assumptions and subject to risks and uncertainties. Although the management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this press release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, including risks regarding the ease of consumers to find the Company's products locally or to purchase products online, the Company's conversion rate, the ability of the Company to map consumer interest, track search results and match the launch of new or additional SKUs and continued revenue growth,. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
i Proprietary study n=350, Jan 2021 |
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ii Superior based on a comparison to major competitive frozen burgers, 113g serving size |
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SOURCE Sol Cuisine Ltd.
Jonathan Ross, Sol Cuisine Investor Relations, [email protected], 416-283-0178; Kieran Lawler, Sol Cuisine Public Relations, [email protected], 416-303-0799
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