Naples Soap Company Enhances Ancillary Product Lines and Expands Wholesale Offerings

Rhea-AI Summary

Naples Soap Company expands wholesale product line, resulting in a 4% increase in profit margin. Plans to offer similar savings to wholesale clients, helping them achieve 70%+ margins. Solid results seen with wholesale buyers.

Positive

• Expansion of wholesale product line leads to increased profit margin
• Offering savings to wholesale clients for higher margins

Negative

• None.

NAPLES, Fla.--(BUSINESS WIRE)-- Naples Soap Company (OTC PINK: NASO), a retail leader and wholesale provider of self care products, has recently expanded its wholesale product line beyond its traditional line of branded skin and hair care products to include complementary, high-quality ancillary bath and home items. This strategic move came about as the Company recognized that pricing from the middle market providers was increasing at an unsustainable rate. Profit margins were decreasing and lead times were increasing.

To reverse this trend, Naples Soap Company started using its buying power with 14 stores and a robust e-commerce division, to skip the middle market broker and buy direct from the manufacturer. The Company has added over 100 new skus that complement its legacy product lines including soap dishes, makeup bags, hats, body scrubbers, facial scrubbers, hair ties, pedicure products and more. “These are products that our customers have been buying elsewhere, but now we’ve made it more convenient for customers to find them in our stores all under one roof,” said Deanna Wallin, Founder and CEO of Naples Soap Company. “We’ve seen a 4% increase in our profit margin since the start of this direct-buy effort. We’ve moved the needle during our slowest time of year and are gearing up with even more product offerings for the busy holiday shopping season.”

In addition to improving Naples Soap Company’s retail store profit margins by adding these new product lines, the Company is extending these same product offerings to its wholesale clients. “We work with boutiques, retail shops and spas all over the country. By passing along similar savings to our wholesale partners, we are helping them move from traditional keystone pricing to 70% plus margins. For a small mom-and-pop retail shop, that’s huge,” stated Wallin. “We vet the products, ensure the quality control, deliver in a timely fashion and help them increase their margins. It’s a win-win.”

Naples Soap Company timed the launch of this new strategy to align with the peak buying cycle of their wholesale client base. Retailers are finalizing their holiday merchandise buys and bringing in fresh and new merchandise. “Since kicking off this effort a month ago, we’ve seen solid results with wholesale buyers on Faire and through direct purchase orders. We’re continuing to add new product offerings and are meeting with our wholesale partners to promote the effort.” For more information about becoming a wholesale partner, visit www.naplessoap.com/wholesale.

Founded in 2009, Naples Soap Company has been helping customers by providing a premium collection of skin and hair care products that are made with high-quality, natural and organic ingredients. The Company is best known for its doctor-recommend sensitive skin care line, natural soaps, body butters, sea salt scrubs and luxury bath bombs. Naples Soap Company products are designed to stimulate the senses, soothe skin and pamper the soul.

About Naples Soap Company, Inc.

Naples Soap Company is a health and wellness brand that markets more than 400 personal care products, including body care, face care and hair care. The Company operates 14 retail locations in Florida in the following cities: Naples, Estero, Fort Myers, Sanibel, Punta Gorda, Venice, Lakewood Ranch, Kissimmee, Mount Dora, Santa Rosa Beach, Destin, Plantation and The Villages. Naples Soap Company products are sold online from the Company’s website at www.naplessoap.com, through other DTC (direct-to-consumer) channels such as Amazon.com and at more than 300 boutiques, spas and stores throughout the United States via the Company’s wholesale division. Company stock is traded OTC Pink: NASO. For more information about Naples Soap Company, visit www.naplessoap.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are subject to uncertainty and may not come to fruition. Readers are cautioned not to place undue reliance on any forward-looking statement including statements that list numbers and dates.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230918272074/en/

Deanna Wallin, Founder and Chief Executive Officer

investorrelations@naplessoap.com | (239) 325-8263

Source: Naples Soap Company