PlantX Reports 2023 Financial Results - Seite 2

XMarket Uptown is currently undergoing construction as the Company embarks on the creation of Chicago's pioneering Vegan Foodhall. With all necessary permits obtained and successful inspections completed, the highly anticipated opening is scheduled around Labor Day. The Vegan Foodhall will showcase six local vegan restaurants, accompanied by a coffee shop run by PlantX's Portfolio Coffee brand, and a fully licensed bar offering an extensive selection of vegan-friendly beverages.

In an effort to enhance efficiency and customer experience, PlantX consolidated XMarket Squamish and the Cloudburst Coffee shop at the Locavore Bar and Grill. This move allowed for the expansion of the lounge area, providing customers with a more inviting space to spend time onsite. As a result, daily sales increased, and the Company gained additional revenue opportunities through hosting private events.

The Company's focused approach on profitability was transformative at BloomBox Club. The team size was reduced from 30 to 4 employees, positioning BloomBox Club on the verge of achieving profitability.

The Company's cold-pressed juice vertical, Little West, experienced continued expansion. Under the leadership of Chris Dodigovic overseeing operations, Little West successfully expanded to Northern California, Nevada, Montana, and structured a deal with Dr. Munsch to bring the juices to the East Coast. The Venice Beach location continued to experience growth and excitement through successful popup initiatives. Notably, TiNDLE extended its three-month popup for an additional three months, further driving customer engagement and sales.

In terms of e-commerce, the Company further strengthened its relationship with KEHE. Leveraging KEHE's inventory, the Company offered consumers case packs of every single plant-based item carried by KEHE, including frozen and refrigerated products. This offering, in addition to the Company's own curated assortment of vegan products shipped from the Chicago warehouse, contributed to increased sales and customer satisfaction. Geo Lopez was promoted to logistics manager at the Chicago warehouse. Geo's expertise in shipping cold products and his ability to source materials at the lowest possible costs played a crucial role in ensuring products reached end customers in optimal condition.