KOLOA, Hawaii, U.S. – KonaRed Corporation, manufacturers of award winning premium Hawaiian Cold Brew Coffees, Whole Bean Coffee products and the Pioneer of the USA Coffee Fruit category, today reported rapid sales growth during quarter one 2017.
Fueled by strategic growth in sales of Ready to Drink Cold Brew Coffees during Quarter one 2017, KonaRed’s sales revenue surpassed $590,000, which compares to $149,000 for the same period in 2016, representing a year over year revenue increase of 295%.
The Company also reported that April sales reached $323,000.
KonaRed’s first quarter success has been lead by dynamic growth in its distribution network as it continues to gain shelf presence in targeted regions.
Additionally, gross margin in Quarter one 2017 improved to 33% versus 21% for Quarter one 2016. This 57% increase was produced by the relatively higher margin earned on Cold Brew Coffee sales.
KonaRed’s President and COO Kyle Redfield commented, “We have made great strides with the distribution and popularity of our award winning RTD cold brew coffee beverages.
We are starting to see impressive IRI numbers (shelf turns) as our larger retailers embrace Cold Brew in 2017 spring and summer seasons.
This includes the likes of Publix, Kroger and Albertsons / Safeway banner stores. We have also expanded into the C-store and club channels with new offerings and programs.
Based on growth in same store sales, expanding distribution and continued new product innovation, we are building momentum and foresee a very positive year.”
The Company added that it made several new strategic hires to strengthen their sales team and operations.
Most notably the Company hired Leo Zweig, former Roll Global (Now the Wonderful Company) Executive, in a newly created position of Vice President of Operations.