Iconic Brands Reports Record Revenues for its Third Quarter 2021 Financial Results - Seite 2
“During the third quarter, we transitioned from a beverage and lifestyle branding company with a diverse portfolio of premium wines and spirits, into a fast-growing, vertically-integrated alcohol products company. We strengthened our leadership team to include executives with expertise in the beverage and consumer products sector. We successfully raised $40 million to further the expansion of our brands, increased inventory to accommodate demand and increased marketing and other areas. Most notably, during the third quarter, we completed our acquisition of TopPop and brought over several members of the TopPop management team and staff. We are in the process of blending the companies synergistically and using the successful ingredients and values from both companies. TopPop clients include many Fortune 500 and multinational companies and some of the largest brands in the alcohol industry, and specializes in single-use flexible packaging applications in the food, beverage, and health categories including ready-to-freeze (“RTF”) ice pops. RTF is a growing sector in the alcohol beverage industry and since the acquisition of TopPop, we have started expanding our machine and facility capabilities to meet growing demand. TopPop manufactured approximately 36 million ice pops this year to-date, which is up significantly over the 10 million it manufactured in all of 2020. The global alcoholic beverages market reached a value of $1.58 trillion in 2020, according to Research and Markets, and we believe we are well-positioned to continue our growth trajectory,” said Chief Executive Officer Larry Romer.
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He continued, “We beat our revenue goals and we believe that we delivered our strongest quarter ever. Quarter-over-quarter revenue growth was 386% and almost 300% year-over-year. In addition to our acquisition of TopPop, the capital raise and our new leadership, we also launched Sonja Sangria by Sonja Morgan, which we believe will be a positive addition to our brand portfolio. Bellissima has been a stable of Iconic and has had success in the health and wellness side of alcohol branding. Building brands that are “Better-for-You and Better-for-the-Planet” is a focus of Iconic’s. Looking ahead, we have a new line of Bellissima Zero Sugar still wines in five different expressions, which we expect to launch in the coming months. We are rebranding and repositioning our Bella Aperitifs and are strategizing new product developments for the Company and for third parties, especially in the RTF space. We plan to continue to grow our current brands, add new lines and look for new opportunities. We had a fantastic third quarter and we look forward to incorporating our acquired businesses and to our future growth opportunities. We believe that Iconic has substantial growth potential and we are constantly looking at ways to enhance shareholder value. We believe that we have a solid foundation for the future and intend to pursue an up-listing of our shares to a national exchange in the first half of 2022.”