ElfBar, Lost Mary Sales Boost Supreme’s Profits
Credit: JIRSAK
ElfBar and LostMary could be the ones to thank for Supreme’s favorable six months as the firm rings in the half-year mark with record revenues and profit growth.
The ElfBar distribution alone contributed to £26.4 million ($33.3 million) of its £64.6 million revenue in the period, Supreme said today, alongside “strong organic growth” of £8.7 million in areas such as lighting, vaping, nutrition and wellness.
Gross profits for the firm are up 63 percent, from £18.2 million to £28.5 million, according to media reports.
The numbers come after the firm was chosen this summer as the master distributor for two leading UK vaping brands, ElfBar and Lost Mary, which it has begun to supply to major UK retailers such as Tesco, Morrisons and WHSmith Travel.
The London-listed company said at the time it expected the partnership to generate revenues of £25 million to £30 million over the next fiscal year ending March 2024.
In just four months since the partnership was announced, it’s reached over double the goal.