Tag: sales

  • Supreme’s 88Vape Sales Jump 36 Percent Amid Lockdown

    Supreme’s 88Vape Sales Jump 36 Percent Amid Lockdown

    The parent company behind the 88Vape brand, Supreme, announced revenues rose 36 percent as U.K. smokers attempted to quit smoking combustible cigarettes during Covid-19 lockdowns. The company’s total revenue was up 33 per cent at £122.3 million ($166 million) as of March 31, 2021. This is up from £92.3 million in same period of 2020.

    Gross profits jumped to £33 million, which helped the company to slash its debt by 64 percent, ending the financial year with a just £7.6 million burden compared with £21.3 million in 2020, according to City A.M. The strongest sales growth was found in vaping and its sports nutrition and wellness branch, the company said in a statement.

    Supreme’s partnership with convenience store chain McColl’s to supply shops with vaping products marked the company’s growth in the vaping sphere. The rollout of 88Vape products was completed in March 2021, adding an additional 1,180 retail convenience stores nationwide to Supreme’s portfolio.

    “There are clear and very exciting opportunities that exist for our business, particularly in categories like sports nutrition and wellness and vaping, and I look forward to providing further updates in due course as we capitalise on these,” Supreme CEO Sandy Chadha said. “We have made a good start to the current financial year and look to the future with confidence.”

  • Illinois Marijuana Sales on Record Pace This Year

    Illinois Marijuana Sales on Record Pace This Year

    Credit: Frederick Warren

    Illinois has already hit the $300 million mark for marijuana sales this year. July had the most sales of any month, according to state figures.

    July cannabis sales hit $61 million, which is up from $47.6 million in June and $44.3 million in May, according to the Illinois Department of Finance and Professional Regulation and New Frontier Data, according to the Associated Press..

    One reason for the increase in sales could be the customers’ ability to order online, which many dispensaries started to keep lines down, the Chicago Tribune reported.

    “We got a lot better at being able to get people in and out because of the online order reservations,” said Jonah Rapino, spokesman for NuEra, which has dispensaries in Chicago, East Peoria and Urbana and recently changed its name from NuMed.

    The amount of money that customers spend at dispensaries has also increased. The average transaction was $126 in the first three months of the year but increased to $150 in April, May and June, according to Washington, D.C.-based New Frontier.

    Greg Butler, chief commercial officer at Chicago-based marijuana company Cresco Labs, said the pandemic could be credited to the increase in demand, too.

    More product availability could also be a contributing factor to the high demand. During the beginning of the year, there were some supply issues. The Tribune previously reported that dispensaries said they needed more marijuana and employees.

    Butler noted that many facilities that grow marijuana expanded operation, and those products started hitting the shelves over the summer. Cresco expanded at some of its facilities and increased production at its Joliet location.

    “With supply picking up, it has allowed customers to purchase that extra product or two that might not have been available,” said Michael Mandera, general manager of the Herbal Care Center dispensary.

  • New Zealand: Vape starter kit sales rise

    New Zealand: Vape starter kit sales rise

    Photo: Richard R. Schünemann | Unsplash.com

    In New Zealand, Ben Pryor, co-owner of Alt New Zealand and Vapo, has seen a 30 percent rise in the sale of vapor device starter kits through the companies’ online stores.

    With the outbreak of Covid-19 and the following lockdowns, traditional cigarette sales seem to have gone down, and many smokers are turning to vaping.

    “There are a few things at play here. People are quitting cigarettes because of their sheer cost and the increasing pressure many household budgets are now under. At the same time, the threat of Covid-19 has made many smokers more cognizant of their respiratory health and smoking’s secondhand effects on others in their bubble,” Pryor said.

    The lockdowns caused 11 Vapo stores to close, negatively affecting the company. But the upswing in online sales has helped temper that. “We’ve really noticed a big increase in our Alt and Vapo Haiz starter kit sales,” Pryor said. “Our call center is reporting that many smokers are using this time to quit tobacco so are seeking advice and turning to considerably safer and cost-effective vape products more than ever.”