- The Calmer Co International (ASX:CCO) releases its quarterly activities report for December 2023, revealing e-commerce sales grew by 83 per cent QoQ to a record $658,000
- E-commerce sales also reached $8000 a day in December
- Customer receipts rose to $695,000, marking a 45 per cent increase from Q1 FY24
- The company expanded its retail presence with Coles Supermarkets Australia and entered the US, New Zealand and Chinese markets
- CCO last traded at 0.7 cents
The Calmer Co. International (ASX:CCO) has released its quarterly activities report for December 2023, revealing that e-commerce sales grew by 83 per cent quarter-on-quarter to a record $658,000.
E-commerce sales surpassed $8000 per day in December alone, contributing to total global e-commerce sales exceeding $250,000 for the month.
The health and wellness company attributed the rise in sales to strong growth in the Australian market.
Cash receipts were also up by 45 per cent to $695,000 for the quarter.
Quarter-on-quarter and yearly growth
All in all, the quarter saw revenues of $918,000, with more than 53 per cent of sales hailing from Australia, showcasing a 54 per cent increase from the prior quarter and a 106 per cent surge from the same period last year.
The Calmer Co CEO, Anthony Noble, said the company has now established “a stable base for growth” across its four sales growth pillars.
“Excellence in e-commerce sales in Australia has been the focus this quarter and we are only limited by our ability to import material into Australia under the current kava inspection regime,” he said.
“New product development is underway to add value, new benefits, and new flavours to our range of drinking kava products.
“This will be complementary to the existing e-commerce sales which are growing fast and we expect this to increase user acceptance of kava drinks and increase lifetime customer value and basket size.”
Net cash used in operating activities rose by 11 per cent, driven by a 36 per cent increase in manufacturing costs and a six per cent increase in marketing to hold more inventory and support the rapid growth in online sales and Coles sales.
Overseas expansion
Shipping to New Zealand from the Australian Shopify store commenced on November 25, highlighting promising initial demand from New Zealand.
The company re-established its presence in the Chinese market by launching the Alibaba Tmall Flagship store, with plans to internally manage this channel going forward.
Metagenics USA marked a significant milestone as the first prominent practitioner brand to incorporate the Kavaton extract into its products in the United States, marking the company’s entrance into the US market.
Fiji Kava solidified its commitment to the sporting community by renewing its partnership with the Fiji Rugby Union for an additional three years. The company also announced the introduction of Fiji Rugby-branded kava products in Fiji.
The company’s global distribution partnership with Leilo has commenced, marked by the launch of Leilo drinks through an exclusive collaboration with Jack’s of Fiji.
CCO last traded at 0.7 cents.