PlantX and Portfolio Coffee Launch New E-commerce Website
PlantX Life Inc. (CSE: VEGA) announced on April 25, 2022, the launch of a new Canadian e-commerce platform by its subsidiary, Portfolio Coffee Inc. The initiative reflects PlantX's rebranding and expansion strategy. The platform aims to enhance customer experience with farm-to-cup direct-trade coffee. Previous e-commerce efforts, such as the rebranding of Little West, resulted in significant revenue growth of 145% year-over-year in March 2022. PlantX's focus on modern website design aims to boost brand loyalty and sales.
- Portfolio Coffee's new e-commerce platform launched.
- Previous rebranding efforts increased Little West's revenues by 145% year-over-year.
- None.
VANCOUVER, BC, April 25, 2022 /PRNewswire/ - PlantX Life Inc. (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) ("PlantX" or the "Company") is pleased to announce that its wholly-owned subsidiary, Portfolio Coffee Inc. ("Portfolio Coffee"), has launched a new Canadian e-commerce platform aiming to reflect the Company's ongoing rebranding efforts in line with its expansion strategy.
Portfolio Coffee's new e-commerce platform under the new domain, https://www.portfoliocoffee.store/, emulates PlantX's rebranding efforts to holistically modernize the identity of its subsidiaries in a way that echoes PlantX's core values of quality and innovation. The new e-commerce strategy, which offers a user-friendly and interactive online shopping experience, is aimed to forward Portfolio Coffee's mission of helping its customers to (re)discover coffee by offering farm-to-cup fresh, direct-trade coffee sourced from renowned farms around the world and roasted in Canada.
The decision to launch the new e-commerce platform was driven by the impact of PlantX's previous efforts to rebrand its wholly-owned subsidiary, Little West, LLC ("Little West"). After implementing PlantX's e-commerce strategy to launch its new website in April 2021, Little West has experienced growth for the 12 months after its website rebrand, compared to the 12 months prior to the rebrand. The favorable impact of the new e-commerce design is visible in Little West's month-to-month revenue growth in March 2022, compared to March 2021, when Little West reported revenues of
Select Financial Information of Little West | |||
March 2021 (pre-rebrand) | March 2022 (post-rebrand) | % Increase | |
Gross revenue | 145 | ||
Average Order Value | 16 | ||
Online store visits | 4,526 | 23,522 | 136 |
"We know from various market research reports that e-commerce website designs are paramount in fostering customer loyalty and boosting brand awareness," said PlantX CEO, Lorne Rapkin. "Almost
The financial results disclosed in this press release are management prepared and have not been audited or reviewed by the Company's auditors. Unless otherwise indicated, all amounts are expressed in Canadian dollars.
As the digital face of the plant-based community, PlantX's platform is the one-stop shop for everything plant-based. With its fast-growing category verticals, the Company offers customers across North America more than 10,000 plant-based products. In addition to offering meal and indoor plant deliveries, the Company currently has plans underway to expand its product lines to include cosmetics, clothing and its own water brand — but the business is not limited to an e-commerce platform. The Company uses its digital platform to build a community of likeminded consumers and, most importantly, provide education. Its successful enterprise is being built and fortified on partnerships with top nutritionists, chefs and brands. The Company eliminates the barriers to entry for anyone interested in living a plant-based lifestyle and thriving in a longer, healthier and happier life.
Portfolio Coffee is led by an executive team with over 20 years of experience working with award winning farms through the global coffee supply chain, and roasting and retailing specialty coffees. Through its wholesale roaster, Eh Coffee Corp., Portfolio Coffee delivers exquisite, everyday specialty coffees to homes and businesses globally. Portfolio Coffee is a Toronto-based specialty coffee and tea retailer and e-commerce platform (portfoliocoffee.store) that connects customers with directly traded barista-quality beans from esteemed family farms, which are typically reserved only for coffee shops. Founded in 2016 and 2019 respectively, Eh Coffee and Portfolio Coffee work jointly to carefully consider harvest selection and best practices in warehousing, transportation and coffee grading to ensure their specialty lots maintain
The Company website is http://investor.PlantX.com/.
This press release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may," "will," "expect," "likely," "should," "would," "plan," "anticipate," "intend," "potential," "proposed," "estimate," "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. The forward-looking information contained herein includes, without limitation, statements relating to the launch of Portfolio Coffee's new e-commerce platform and the business and strategic plans of the Company.
By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including, without limitation: the Company's ability to comply with all applicable governmental regulations including all applicable food safety laws and regulations; impacts to the business and operations of the Company due to the COVID-19 epidemic; the conflict in Eastern Europe, a limited operating history; the ability of the Company to access capital to meet future financing needs; the Company's reliance on management and key personnel; competition; changes in consumer trends; foreign currency fluctuations; and general economic, market or business conditions.
Additional risk factors can also be found in the Company's continuous disclosure documents, which have been filed on SEDAR and can be accessed at www.sedar.com. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
View original content to download multimedia:https://www.prnewswire.com/news-releases/plantx-and-portfolio-coffee-launch-new-e-commerce-website-301531599.html
SOURCE PlantX Life Inc.
FAQ
What is PlantX Life Inc.'s new e-commerce venture about?
How did the rebranding of Little West affect its revenue?
When was the new e-commerce platform for Portfolio Coffee launched?
What products does Portfolio Coffee offer?
What are PlantX's plans for its subsidiaries?
