The Very Good Food Company Achieves Record Revenue in October
The Very Good Food Company Inc. (NASDAQ: VGFC) (TSXV: VERY.V) (FSE: 0SI) ("VERY GOOD" or the "Company"), a leading plant-based food technology company, today shared its exciting record performance in the month of October 2021. With sales of approximately C$1.5 million for the month, the Company saw an increase of 202% in revenue compared to the same month last year. VERY GOOD has seen steady growth as meat alternatives increase in popularity and consumers demand high quality plant-based options. This continued growth illustrates the stronghold that meat alternatives are forging in the food industry and how the unique offerings of the Company’s core brand, The Very Good Butchers, keep consumers coming back.
Record sales of C$1.5 million were achieved in October due to increased demand for VERY GOOD’s products in both its wholesale and eCommerce channels. The Company recently launched into U.S. retail in August 2021 and was in over 396 stores in the U.S., in addition to 805 stores in Canada at the end of September. eCommerce sales also rose due to the demand for holiday products including the Stuffed Beast and the limited-edition Thanksgiving Box. In October, Stuffed Beast sales were seven times the number sold in October of last year. These increased listings across the U.S. and Canada and demand for vegan meat alternatives for the holidays drove revenue in October to twice that of the same month in 2020. VERY GOOD plans to introduce additional Holiday Boxes before the festive season.
“We are thrilled to see such a high demand for both the Thanksgiving Box and the Stuffed Beast this year. As many consumers look to change their diet to reduce their reliance on animal-based products and positively impact the environment, we know the holidays can be tricky when looking for tasty meatless options,” said Mitchell Scott, co-founder and CEO of VERY GOOD. “With the Stuffed Beast and our Thanksgiving Box, we worked to create a delicious and easy vegan option for the table that will make everyone happy. Raising the plant-based bar goes beyond day-to-day meals, and with these holiday items we want to continue the heartfelt family traditions of coming together to enjoy great food and great company — just without the meat."