Commencing shortly, American’s can start stocking up on vegan snacks supplied by Australian health food and drink company, Forbidden Foods (ASX: FFF), following the successful rollout of its flagship Amazon US online store Blue Dinosaur, pushing its health & wellness product range.
Securing its presence on the world’s largest e-commerce site, the health food Company hopes to capture just a tiny portion of the average 2 billion monthly visitors that shop via Amazon.com. With its Blue Dinosaur store now live across the US grocery segment of the site, the larger foothold in international markets directly compliments the ongoing expansion strategy as well as establishing a diversified long-term-high-margin revenue stream.
With Amazon’s highly successful straightforward technology and end-to-end retailer-to-consumer infrastructure, millions of e-commerce retailers take advantage of its facilities to boost product sales and reduce shipping costs. Streamlining distribution, Blue Dinosaur will also utilise and hand over control of a few core segments to Amazon’s US fulfilment centres to allow for expedited delivery for over 200 million Amazon Prime subscribers.
“To have officially launched our Blue Dinosaur® store on Amazon in the US is another step in Forbidden Foods push into diversifying its revenue streams and establishing a long-term and high-margin growth strategy across the country,” said Forbidden Foods CEO, Marcus Brown.
Wanting to provide a healthy snack alternative, Forbidden Foods acquired 100% of the shares in Blue Dinosaur for a cash sum of $4 million on a cash-free and debt-free basis. Blue Dinosaur offers a lineup of health focused bars and bite-sized snacks. Being completely hand baked and not containing added sugars, colours, dairy, flavours, stabilises or soy, the Company’s target marketing demographic is active’ and health conscious millennials. Currently, items are stocked in over 8000 gyms, major supermarkets, petrol stations and cafes.
As part of the health food brand, Forbidden Foods has heavily pushed its US expansion in recent months. Arrival into the States was marked earlier in September 2022 when the Company teamed up with Walmart’s biggest natural and organic grocery supplier in September 2022, KeHe Distributors, to supply over 30,000 store locations. Blue Dinosaur also made a debut into Malaysia retailers in May of this year – the first export agreement into the Asia region.
FFF shares are continuing lower following today’s announcement, adding to its downturn that began during its IPO in September 2020 which marked its highs of $0.45 – currently, shares are worth $0.07 at the time of writing.
Trading Desk Assistant at Emerald Financial
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