- e-commerce and digital marketing company RooLife Group (RLG) saw its unaudited revenue increase by 25 per cent in the June quarter
- The company’s fourth quarter revenue sits at just over $1 million, bringing its FY20 unaudited revenue to $3.4 million
- Further, RooLife burnt $387,000 with the majority going towards staff costs then product and manufacturing costs
- During the quarter, RooLife received contracts totalling $6 million
- These contracts are with SLG Brands, AFT Pharmaceuticals, and Alipay
- RooLife is steady on the market today and shares are currently trading for three cents each
e-commerce and digital marketing company RooLife Group (RLG) saw its unaudited revenue increase by 25 per cent in the June quarter.
The company’s fourth quarter revenue sits at just over $1 million, bringing its FY20 unaudited revenue to $3.4 million, representing a 380 per cent increase from $710,000 in FY19.
Further, RooLife burnt $387,000 with the majority going towards staff costs then product and manufacturing costs.
Additionally, the company received $678,000 in customer receipts, bringing the total to the year to $2.872 million.
Business update
Over the quarter, RooLife was approached to launch and operate three Alibaba Tmall flagship stores.
It has received contracts totalling $6 million since March 2020.
SLG Brands
In May, RooLife was appointed exclusive marketing, sales and distribution partner for beauty and wellness company SLG Brands.
The three year contract will see RooLife oversee the sales and distribution of the COLAB Dry Shampoo range in China.
It will develop and operate advertising campaigns for the COLAB range as well as provide social media content.
RooLife will receive a combination of monthly service fees and a margin on sales. It will also receive around $2.5 million if minimum sales performance milestones are met.
AFT Pharmaceuticals
In mid-July, RooLife announced it partnered with AFT Pharmaceuticals to launch and operate a New Zealand health and pharmacy store.
This partnership will see AFT’s products be sold on the Alibaba’s Tmall platform, a Chinese online retailer.
RooLife is expected to pocket approximately $2.2 million over a three-year period if sales targets are met.
Alipay
Finally in April, RooLife saw its share price soar after it teamed up with online payment platform Alipay as its new marketing partner.
This partnership will run for one year and RooLife will be responsible for actively managing marketing information on the Alipay platform and connecting merchants to Chinese consumers.
The contract is for a one-year period and automatically renews annually until either party terminates.
RooLife is steady on the market today and shares are trading for three cents each at 1:43 pm AEST.