Vejii Announces Record Unaudited
Consolidated Revenues of $513K for January Representing a 1,158%
Increase Year over Year
VANCOUVER BC, February
23rd,
2022 -- InvestorsHub NewsWire -- Vejii Holdings
Ltd. (CSE:VEJI) (OTC:VEJIF) (the "Company'' or "Vejii"),
a North American online marketplace for plant-based and
sustainable products announced today that it had record unaudited
consolidated revenues of approximately $513K in January of 2022,
which represents an achievement of 1,158% growth compared to the
same period last year.
After the commencement of commercial sales on Nov 19, 2020,
and in just over 1 year, Vejii has built out its marketplace to
offer more than 3,500 products from over 500 brands in the CPG
space. The Company has bolted on two strategic acquisitions of Veg
Essentials LLC (VeganEssentials.com)
and its newly acquired B2B division, VEDGEco USA Inc
(VEDGEco.com).
Today, the combined Company has six points of distribution in North
America and plans to add more in key strategic locations. In
January 2022, Vejii saw total unaudited consolidated revenues of
approximately $513K with a gross profit of approximately $189K
representing a 37% gross margin. This represents approximately
1,158% growth over 2021 revenues for the same period. January 2022
marks the highest revenue achieved by the Company in any single
month of reporting since inception.
"We believe the continued revenue growth shows the synergies
of our M&A strategy and the growth of our organic business.
Vejii's platform offers brands the ability to go direct-to-consumer
at a time when speed to market is key for brands, using Vejii
Fulfillment Services. We allow brands to list on our marketplace,
with Vejii providing pick, pack, and shipping directly to
consumers. This service lets brands get their products to market
quickly and allows Vejii to continue expanding its product offering
while maintaining its capital-light model. Expanded product
selection and direct delivery on B2B and B2C are leading our
growth" commented Darren Gill, President & COO of
Vejii.
"We have been able to achieve tremendous growth in 14 short
months since launching. We have continued to expand our footprint,
customer base, and brand partnerships. We have gained a lot of
traction within the industry, having onboarded hundreds of brands
from innovative start-ups to multinational organizations. I am
confident that with a continued focus on execution and increased
brand awareness, our metrics will continue to improve" said Kory
Zelickson, CEO of Vejii.
About Vejii Holdings
Ltd.
Headquartered in Kelowna B.C, Vejii is a unified digital
marketplace and fulfillment platform featuring thousands of
plant-based and sustainable-living products from a growing list of
hundreds of vendors. The platform offers an easy-to-use,
omnichannel experience for both vendors and buyers, leveraging big
data and artificial intelligence to elegantly connect brands with a
targeted consumer base, both organically and through specialized
marketing programs. Dynamic fulfillment services empower brands to
offer tier-one service, with ongoing engagement being driven
through features like smart lists, subscription programs,
reordering functions, sampling programs, and more.
The Company also owns and operates the US-based Veg
Essentials, a staple of the plant-based community. Vegan Essentials
was established in 1997 and contributes more than 20 years of
consumer insight, data, and buying power. VeganEssentials.com was
awarded best online vegan store from 2005-2018, as well as best
online vegan grocery from 2018-2021 by VegNews Magazine. The
Company also owns and operates VEDGEco. Headquartered in Kailua,
Hawaii, and launched in 2020 VEDGEco is the first nationwide
plant-based foodservice distributor, providing restaurants with
high-quality plant-based options. With the goal of bringing the
freedom of food choice to all restaurants and businesses, VEDGEco
distributes plant-based products in bulk to the restaurant and
wholesale food industry, as well as to consumers across the
US.
For more information please visit
VejiiHoldings.com
ON BEHALF OF THE BOARD OF DIRECTORS:
Kory Zelickson
Director and CEO
For investor inquiries or further information, please
contact: IR@VejiiHoldings.com
Find Vejii on Social Media: on Instagram, Facebook, Twitter
and LinkedIn
No securities regulatory authority has either approved or
disapproved of the contents of this news release.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking
statements within the meaning of applicable securities laws with
respect to the Company. These forward-looking statements generally
are identified by words such as "believe," "project," "expect,"
"anticipate," "estimate," "intend," "strategy," "future,"
"opportunity," "plan," "may," "should," "will," "would," and
similar expressions. Forward-looking statements in this press
release relate to, without limitation, the Company's future
performance, including increased revenues and improved metrics..
Although the Company believes that the expectations and assumptions
on which such forward-looking statements and information are based
are reasonable, undue reliance should not be placed on the
forward-looking statements and information because the Company can
give no assurance that they will prove to be correct. Since
forward-looking statements and information address future events
and conditions, by their very nature they involve inherent risks
and uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release including, without limitation, risk factors described in
the Company's final long form prospectus dated October 25, 2021.
Readers are cautioned that the foregoing list of factors is not
exhaustive. The forward-looking statements included in this news
release are expressly qualified by this cautionary statement. The
forward-looking statements and information contained in this news
release are made as of the date hereof and the Company undertakes
no obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable
laws.