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Monday, May 20, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Food

Else Nutrition gets Amazon representation in Canada for baby food

Amazon is presently the leader in the e-commerce market with net sales of $9.8 billion in 2021.

Else Nutrition
Photo by Stephen Andrews on Unsplash

Else Nutrition Holdings (TSX:BABY) has launched in Canada on Amazon.

Else introduced a full range of Canadian-complaint products with bilingual packaging, including products for toddler nutrition, kids milkshakes in both vanilla and chocolate, and soon it will release cereals for babies from six months and older in new flavours.

“We are very excited to enter the Canadian market and we believe that Amazon will be a key part of our growth strategy in Canada, as it has been in the United States. Canadian consumers have demonstrated a continued excitement towards our brand, and we are proud to be able to offer them plant-based complete nutrition options for their toddlers and children through the leading e-commerce platform in Canada,” said Hamutal Yitzhak, cofounder and CEO of Else Nutrition.

The company has had a presence in the United States since September, 2020, and grew to an annual business of USD$4 million in under two years. The company grew from a single stock keeping unit (SKU) to three product lines and more than 15 SKUs, demonstrating an 84 per cent quarter over quarter sales increase in its Q2 2022 financials, while doubling its subscriber base from 1,000 to almost 2,000.

Else Nutrition is a food company presently in its international expansion phase and working on developing clean and plant-based food and nutrition products for infants, toddlers, children and adults. Its formulations are plant-based and soy-free, and a clean ingredient alternative to standard dairy-based formulas. The company also won the 2017 best health and diet solutions award at the Global Food Innovation Summit in Milan.

Amazon is presently the leader in the e-commerce market with net sales of $9.8 billion in 2021. The Canadian online grocery space has also shown substantial growth as Canadians continue to buy their groceries online after the pandemic. A study performed in 2021 conducted by Leger Research indicated that consumer demand for plant-based foods is growing in Canada, with recent data showing that two-thirds (67 per cent) of Canadians eat plant-based food frequently, and 31 per cent of Canadians intend to increase the amount of plant-based foods in their diet in the coming year.

“While Amazon and our own e-store led our sales growth in the U.S., followed by strong retail growth, in Canada we expect on-line and retail sales to grow together, in a true omnichannel fashion, and at a fast pace,” said Yitzhak.

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