Bubs Australia says it is continuing to see “exceptionally strong demand” in the US, with a new weekly scan sales record of revenue exceeding US$1 million.
Highlights
- US weekly scan revenue exceeds US$1m per week, more than 24,000 tins sold;
- Q3 average was US$750k revenue;
- in May 2024, #1 best-selling infant formula product on Amazon USA;
- more than 300 infants enrolled, 75% of target, for clinical trial; and
- roll-out of new label tins and sizes for US market.
Bubs CEO and MD, Reg Weine, said as well as achieving number one on Amazon USA, more than 5800 bricks and mortar stores were also stocking the brand.
“Our recent brand performance is a testament to our premium, high quality, clean label nutritional options that continue to resonate with US parents and healthcare professionals,” Weine said.
He added that increased inventory levels into the US and recovering from the stock shortages of late 2023, would provide “a strong tailwind” for growth in FY25.
China market
Weine said the ‘overhang’ of Bubs Supreme inventory in the China market that was held by its former distributor had caused several challenges, which were now resolved.
“Our new goat infant formula is now ‘live’ on T-Mall and JD.com as well as being available in the 020 channel.
“Bubs focus on the O2O channel is already paying dividends with 143 new outlets stocking Bubs during April and May. Caprilac adult goat milk powder sales on our T-Mall flagship store have also been strong,” Weine said.
The company expects sustainable growth in FY25, achieving positive trading EBIT next year.
