- The Calmer Co (ASX:CCO) has gotten over customs delays that saw its product rollout in Coles delayed
- The company says it will be the first to offer a kava-based ‘wellness shot’ product in Australia
- Kava is touted as a natural relaxant and CCO is betting on a pivot into the health-conscious consumer market
- CCO shares last traded at 0.4 cents
The Calmer Co (ASX:CCO) has confirmed its Kava-based health drink products have been shipped to Coles (ASX:COL) for a national rollout on the shelf.
The company late last year implied the rollout would take place in “early 2024” – but within the timeframe of Q1, the company has still delivered.
The company flagged customs and quarantine delays for stretching out the delivery timeframe.
The rollout had been slated for Jan 12.
First-of-its-kind product
The Market Online understands the Taki Mai ‘ready to drink’ product is the first of its kind to be available in Australia.
More than 500 Coles stores nationally are to stock the Taki Mai Kava shot, a 50mL wellness shot product, and, a further 300 stores will stock a 150g instant Kava powder-based just-add-water product.
Kava is touted as a natural relaxant and CCO is betting on a pivot into the health-conscious consumer market.
CCO claims that it is a mind relaxant as well as a muscle relaxant. Whether these effects are placebo, or the market believes they can really feel them – CCO will have to wait and see.
Explaining delays: management
“Shipping out of Fiji for our new products into Coles was on time in December, however significantly increased wait times for inspection slots at the border has delayed our launch up until now,” CCO CEO Anthony Noble said.
“Fifty gram Instant Kava and single serve 50mL kava-shot are ideal ways for consumers to try kava for the first time, and both products are only sold via Coles to help drive customer trial.
“We expect the RTD format to be a key growth driver for the company as consumers looking for alternatives to alcohol continue to flock to kava.”
CCO shares last traded at 0.4 cents.