REG - Chill Brands Group - Trading Statement ahead of AGM

Chill BrandsAnnouncement

31/10/2022 07:00

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RNS Number : 5767E  Chill Brands Group PLC  31 October 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION
11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.

31 October 2022

Chill Brands Group plc

("Chill Brands" or the "Company")

 

Trading Update ahead of AGM

 

 

Chill Brands Group, the international consumer packaged goods company, is
pleased to provide an update on trading ahead of its reconvened Annual General
Meeting ('AGM') which will be held today at 3.00pm (GMT) at the offices of
Allenby Capital Limited, 5th Floor, 5 St Helen's Place, London EC3A 6AB,
having previously been adjourned on 29 September 2022.

 

Highlights

 

·    Online sales of more than $10,000 made during seven days between 18 -
25 October 2022.

·    Sustained rate of B2B orders placed directly by independent retail
partners via Chill.com wholesale portal.

·    Search engine optimisation, conversion rate optimisation, influencer,
email and affiliate marketing campaigns underway.

 

Online Sales Performance

 

The Chill.com website generated sales in excess of $10,000 during the seven
days following its relaunch on 18 October 2022. This represents an increase of
more than 75% compared to the weekly average sales for the preceding quarter.

 

Since relaunching with a refreshed brand image, the UK portion of the
Chill.com domain has enjoyed a 605% increase in its conversion rate with its
average order value up 8% to £37.11. In the US the site has attracted orders
from customers in more than 25 States during the past 14 days, including a
number of returning independent retail partners who placed B2B sales orders
through the dedicated Chill.com wholesale portal.

 

While there can be no guarantee of future performance or that sales will
continue to grow at this rate, the Company is encouraged by the initial data
and expects sales made via its eCommerce channel to increase incrementally
over time.

 

Commencement of Marketing Campaigns

 

In addition to relaunching its eCommerce site and primary brand, the Company
has commenced a number of marketing campaigns that are intended to drive
additional traffic to Chill.com.

 

Chill Brands' is focused on customer acquisition and has engaged with Neil
Patel Digital Agency which is widely regarded as one of the world's foremost
advisers for Search Engine Optimisation (SEO). It has also begun a range of
other campaigns across email, influencer and affiliate marketing to
proliferate the Chill brand across a wide range of platforms and consumer
touch points.

 

These efforts form part of Chill Brands' omnichannel marketing strategy
through which the Company believes it will be able to generate further
opportunities in a sustainable and cost-effective way by improving its web
presence and ranking on popular search engines.

 

Callum Sommerton, Chief Executive Officer of Chill Brands, commented:

"We're delighted with the performance of Chill.com since its relaunch on 18
October. These results are a great endorsement of our decision to refresh our
brand and website, which is now equipped to attract, convert and retain
consumers.

 

Our focus has now turned to an array of marketing initiatives that will drive
new consumers towards our growing digital sales channel. We still have a long
way to go to achieve our ambitions for the Chill.com platform, but this has
been a very encouraging start."

 

-ENDS-

About Chill Brands Group

Chill Brands Group plc (LSE: CHLL, OTCQB: CHBRF) is an international company
concerned with the development, production, and distribution of best-in-class
hemp-derived CBD products, tobacco alternatives and other consumer packaged
goods (CPG) products. The Company operates primarily in the US, where its
products are distributed online and via some of the nation's most recognisable
convenience retail outlets. The Group's strategy is anchored around lifestyle
marketing that is designed to enhance the popularity of its products,
channelling visitors to its landmark chill.com website.

Publication on website

A copy of this announcement is also available on the Group's website at
(http://www.chillbrandsgroup.com/) http://www.chillbrandsgroup.com
(http://www.chillbrandsgroup.com/)

Media enquiries:

 Chill Brands Group plc                                  contact@chillbrandsgroup.com
 Allenby Capital Limited (Financial Adviser and Broker)  +44 (0) 20 3328 5656
 Nick Harriss/Nick Naylor (Corporate Finance)

Kelly Gardiner (Equity Sales)

 

 

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