Live Verdure engages TruLife Distribution to sell 13 Seeds products in US, as record growth continues
Live Verdure achieved a record December quarter and expects this upward momentum will continue.
Live Verdure’s (ASX: LV1) 13 Seeds health and wellness products will soon be available in the United States after the company secured a supply deal with TruLife Distribution.
The agreement with TruLife provides “rapid entry and expansion” of Live Verdure’s 13 Seeds products throughout e-commerce and bricks-and-mortar retailers in the US.
In readiness, TruLife’s team is working with Live Verdure to ensure all product labelling is Food and Drug Administration compliant.
“We are aware of how difficult it can be to enter the crowded US marketplace,” TruLife chief executive officer Brian Gould explained.
“That’s why we’ve made it our job to find the companies with high-quality products that answer real-world problems – and then make sure that Americans are both aware of, and able to access their goods.”
He added that Live Verdure’s 13 Seeds brands “absolutely fits that bill” and the company “couldn’t be more excited” to represent it to US consumers.
US market
Once the 13 Seeds product labelling is deemed FDA compliant, TruLife will use its existing relationships and channels to distribute the products through national nutritional food and drug mass retailers, regional retailers, and specialty health and nutrition stores.
At the national level, TruLife will target distribution through Wal-Mart, Albertson’s, Safeway, Walgreen’s, Costco, Kmart and many other well-known stores.
In the regional space, there are more than 50,000 individual retail fronts including Publix, Grocer’s Pride, Foodland and Bi-Lo.
The specialty health and nutrition retailers comprise more than 25,000 stores including USA Sports/Muscle Foods, Europa Sports, and Advantis Nutrition.
Live Verdure managing director Ran Vaingold said the US market entry came after three months of market testing for a range of 13 Seeds products.
“TruLife is the perfect partner to work with to enter the US retail market and to scale our sales,” he added.
Record sales
Live Verdure’s expansion into the US market follows a record December quarter performance.
The company’s online sales in Australia rose 58% to an all-time-high of $509,000 – underpinned by record orders.
This marked Live Verdure’s fifth consecutive quarter of online revenue growth since it listed in December 2020.
The upward trajectory is expected to continue, with Live Verdure investing in inventory, new product development and marketing.
During the December quarter, the company launched its Therapeutic Goods Administration-listed TheraNight+ sleep capsules.
The product was developed in consultation with some of Australia’s top pharmaceutical scientists.
Live Verdure’s focus is a direct-to-consumer business model in Australia.
Using Tasmanian hemp as the hero protein, 13 Seeds products are all plant-based and include food, nutraceuticals and skin care. The company also has the 8 Seeds skincare brand which is currently being developed by Mark Tucker, the former managing director of Loreal Australia.