(Alliance News) - Chill Brands Group PLC on Thursday reported strong growth both in the US and the UK, citing continued distribution of vapes.
Since its UK launch in August, the Colorado, US-based CBD products company said it has made sales to more than 475 independent retail stores.
In addition, since its Chill ZERO products became available for purchase in the UK through Amazon Prime in October, it said more than 200 individual customers have made purchases.
Chill Brands expects to see continued growth in the sale of its products on Amazon in 2024.
The company is also in advanced negotiations with another "major UK retailer" for Chill ZERO, and expects the order to be confirmed later this month.
Domestically, Chill Brands will also see its products expand into an additional seven states after securing a purchase order with US-based smoke shop chain, Smoker Friendly. Under this contract, Chill ZERO products will be sold across 60 Smoker Friendly stores across its many US locations.
Chief Executive Officer Callum Sommerton said: "The company has come a long way during 2023 and I am incredibly proud of the significant milestones we have achieved. The coming months will see us take action on our plans to expand the retail footprint of our Chill ZERO products, secure new listings with major retailers, and further define our Chill.com marketplace as a go-to destination for health and wellness including alternative products featuring hemp, nootropics, adaptogens and other popular natural ingredients.
"Having laid firm foundations from which to grow, I am confident that Chill Brands has strong growth potential and we are keen to deliver value as we seize the opportunities ahead of us."
Shares in Chill Brands were up 3.2% at 3.20 pence each in London on Thursday afternoon.
By Sabrina Penty, Alliance News reporter
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Chill Brands (CHLL)