VANCOUVER and SAN DIEGO, CA, Sept. 6, 2019 /CNW/ - Phivida Holdings Inc. (CSE: VIDA OTCQX: PHVAF) ("Phivida" or the "Company") is pleased to provide an update on its initiative to expand the in-store presence of Oki beverages.
Working with local distributors, Phivida has launched a direct store delivery program (DSD) to place its beverages in individual stores and local chains. Distribution partners are now operating in California, Nevada, Colorado, Texas, Pennsylvania and New York, with contracts currently being negotiated in Florida. Since the initiative was launched approximately six weeks ago, Oki beverages are now available in stores throughout the greater Los Angeles area, and in a regional chain in Colorado.
"Our launch in Colorado and California has been a resounding success, particularly with one retail chain where we became their best selling CBD beverage within two weeks of being on the shelf, and they have since decided to expand us into another 20 stores in the state of Florida," said Jim Bailey, CEO of Phivida. "Much of this success is due to the hard work of the sales team along with a robust sampling program, which has yielded incredible results. Also very important is the quality of the product itself and the efficacy it delivers to our customers. I have long said that if we can get the product on to the shelf and into the hands of the consumers, we will win every time against our competition."
The continuing Oki sampling campaign consists of in-market events, in-store sampling and guerilla marketing in California and Colorado. With in-store sampling in Colorado, a 43 percent conversion rate of individuals sampling to becoming purchasers was recorded.
"For the month of September a marketing blitz in Los Angeles is planned which will not only focus on traditional retail stores, but also on fitness studios, specialty grocery and boutique hotels," added Mr. Bailey. "Along with our local marketing efforts, we also have several regional account meetings upcoming or pending, arranged by our partners at Acosta, the national consumer package good marketing agency. Our time is now, and we have every intention of capitalizing on it."
ABOUT Phivida Holdings Inc.
Phivida Holdings Inc. is headquartered in Vancouver, BC with operations in San Diego, CA. Phivida is a premium functional food and beverage company focused on whole plant nutrition and natural ingredients that help best maintain overall health and balance in the human body. The company infuses organic active hemp extract into a variety of premium beverages and clinical products for everyday health. Phivida embraces and celebrates a return to organic, natural, plant-based foods and beverages, and a focus on holistic health and wellness. The mission is to help reduce the world's dependence on pharmaceuticals and provide food and beverage choices that allow customers to live a balanced, healthy lifestyle. For more information, visit phivida.com.
SOURCE Phivida Holdings Inc.
For further information: Website: www.phivida.com, Toll free +1 (844) 744-6646 (ext. #2), Email [email protected]; Jim Bailey, President and CEO, Phivida Holdings Inc., +1 (844) 744-6646; Investor Relations: Craig MacPhail, NATIONAL Capital Markets, 416-586-1938, [email protected]; Media Relations: Alison Joutsi, NATIONAL Capital Markets, 416-586-1952, [email protected]