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- Sustainable packaging company SECOS (SES) expands its MyEco range of products to 770 Coles (COL) stores across Australia
- SECOS will launch a new shelf-ready presentation pack of its 36-litre packs and a new 27-litre pack to Coles, as well as another two MyEcoBag SKUs on a non-trial basis
- The total retail stores stocking MyEcoBags are expected to increase to over 2000 stores nationally by the end November, giving SECOS significant retail reach
- The company will continue to develop further opportunities for growth in new markets and is working to gain market share in grocery and convenience stores internationally
- Shares in SECOS are up 23.1 per cent, trading at 16 cents as of 2:21 pm AEDT
SECOS (SES) announced its MyEcoBag compostable bag products will be stocked by Coles’ (COL) in 770 retail stores across Australia.
The selection follows a recent range review involving the compostable products and is said to be on the back of significant sales growth year-on-year for the company in Woolworths stores.
At Coles, SECOS will launch a new shelf-ready presentation pack of its 36 litres and a new 27L pack. The fully compostable bags are ideal for diverting kitchen food and garden waste to green bins FOGO programs, providing a fully compostable solution.
Further, the supermarket giant has added two MyEcoBag SKUs on a non-trial basis which will be distributed nationally, subject to meeting sales projections as part of the annual range review.
SECOS expects the total retail stores to increase to over 2000 stores nationally by the end of November which the company believes the store footprint gives SECOS a significant retail reach.
SECOS will continue to look for opportunities to add additional compostable bin liner SKUs and new products such as its MyEcoPet dog waste bags into its existing relationships with stores.
The company believes the increased sales will be supported by its recent manufacturing capacity expansion in the Group’s new Malaysian biopolymer plant which commenced production in the March quarter to support annual sales of $25 million.
SECOS said it will continue to develop further opportunities for growth in new markets for its branded line of products and is working to garner market share in grocery and convenience stores in Australia, the US and elsewhere.
Shares in SECOS were up 23.1 per cent, trading at 16 cents as of 2:21 pm AEDT.
