Juice- both a Saturday morning staple and an adjunct to that near toxic tequila you got for your 18th.
Fruity beverage mogul Food Revolution Group (ASX: FOD) is helping keep those crappy tequila brands in the green with the expansion of their range of juices.
The Company plans to expand three products throughout the Coles and Woolworths networks.
Their ‘OG’ product, the easily recognisable Black Label range has maintained strong market performance with double digit sales growth thanks to customer loyalty stemming from brand awareness and recognition.
Their new extended Black Label range will include a 50% less sugar orange and apple variety as well as a new apple range. Products are expected to be in the market by the end of this month and have been accepted for sale in both Coles and Woolworths.
The Company’s foray into single packaged beverages has been well received with both their Juice Lab products earmarked for expansion.
Since launch, the Juice Lab Wellness Shots have outperformed sales expectations, the brand now holds a 70% share of the growing ‘functional shots’ category. Society’s ever growing health consciousness has prompted savvy buyers at Coles to increase the distribution of the range from 477 stores to over 1000 stores nationwide.
Three flavours of the Juice Lab Carbonated Wellness Cans are due to be introduced to Coles and Woolworths stores as a low sugar alternative for those who aren’t that into kombucha, addressing a gap in the market. Seeking a slice of the $3 billion dollar carbonated beverage market, Juice Lab’s canned drinks are expected on shelves from late Q1 FY22 and will run across summer.
CEO of Food Revolution Group, Steven Cail said: “We are delighted with the strong growth and consumer demand we have seen for our Juice Lab Wellness Shots. Wellness and functional beverages are a growing segment in the Australian beverage sector and our Juice Lab range continues to grow market share. The increased distribution network through major retailers, such as Coles and Woolworths, is a reflection of consumer demand and our continued focus on product quality. We will continue to drive our support behind this fantastic product and we anticipate the range to contribute to our ongoing revenue growth.”
“With new and increasing product ranges and strong demand for our core Original Juice product, the Company is well positioned to continue to drive operational and financial improvement into FY22 and beyond.”
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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