- Market capitalization of $9.15M
Vejii Holdings Ltd. (VEJI.C) announced today that it has signed an agreement with Blender Bites Ltd. (BITE.C). Under the terms of the agreement, Blender Bites will join Vejii’s fulfillment and distribution platform, Vejii Fulfillment Services (VFS). In doing so, Blender Bites will be marketed alongside the company’s best-selling products in Canada through its Vejii Express platform.
“We love Blender Bites and their product offering that gives consumers a simple solution to maintaining a healthy diet. We are proud to partner with an award-winning brand that recognizes our ability to deliver their products across the country, direct to consumer, and at the same time provide a world-class shopping experience,” said Darren GillPresident and COO of Vejii.
To give some context, on November 11, 2021, Blender Bites has announced that it has signed a distribution deal with Vejii. Since then, Blender Bites products have been available through the company’s e-commerce platform, ShopVejii.com. However, Vejii’s latest deal will allow Blender Bites to get all the benefits of VFS and Vejii Express, two great vendor-friendly platforms.
Blender Bites Ltd.
Blender Bites Ltd. (BITE.C) is a Vancouver, Canada-based consumer packaged goods (CPG) company founded in 2016. The company develops and markets a line of premium frozen food products, namely its pre-portioned frozen smoothie rounds, to provide customers organic, nutritious and practical products. solutions. Blender Bites products are also certified organic, vegan, non-GMO, gluten-free, dairy-free, and soy-free. Plus, they contain no added sugar and are made in Canada.
Blender Bites products are distributed internationally in Canada and the United States (US). Currently, the company’s products are available in more than 850 stores including major retailers like Sobeys, Safeway, Save On Foods, Whole Foods Market, Buy Low, Nesters, IGA and Fresh Street. Additionally, Blender Bites was recently awarded the 2022 Product of the Year award in Canada, in the organic beverage category.
Keep in mind that Blender Bites has been doing quite well since it started trading on the Canadian Securities Exchange (CSE) on September 21, 2021. Recently the company announced record turnover of CA$560,654 in January 2022, i.e. more than 3000% increase compared to the same period in 2021. In addition, on November 4, 2021Blender Bites has announced a 2934% increase in production during the month of October, having produced 279,658 smoothie rounds compared to only 9,216 in October 2020. If you want to know more about Blender Bites, check out this article!
Vejii Fulfillment Services
In addition to a variety of vendor benefits, Vejii offers Vejii Fulfillment Services (VFS). Thanks to VFS, partner brands can send their products to Vejii warehouses. In doing so, sellers can take advantage of the Company’s pre-established distribution network. Currently, Vejii has five distribution centers in two countries and five distribution centers in the United States. Additionally, there are over 100 independent vendors that process orders either directly or through VFS.
“The VFS program is similar to the Amazon FBA model, but provides fulfillment services for both D2C and B2B channels, specializing in the difficult category of cold chain logistics, which we do well. As we help support our partner brands, we have identified the need for brands to have access to our internal cold chain distribution network,” said Kory ZelicksonCEO of Vejii.
Specifically, VFS allows suppliers to supply their products on consignment. Vejii selects, packs, ships and then completes the last mile fulfillment for its suppliers. In other words, Vejii does the heavy lifting for its suppliers, ensuring that the products reach their intended end customers. According to the company’s latest deal, in addition to joining Vejii’s VFS platform, Blender Bites will be released on the Veji Express platform, which offers express shipping and local delivery on high-speed SKUs, including fresh and frozen products.
since we launched Vejii Fulfillment Services, more than 40% of our brand partners participate in the program. The VFS program has proven invaluable to our brand partners and provides Vejii with the opportunity to continue to scale and integrate brands by accepting brand consignment inventory into our distribution network,” continued Kory Zelickson.
Since its IPO, Vejii has made significant acquisitions, including VEDGEco and Veg Essentials. The company has also signed a multitude of agreements with suppliers such as Planet Based Foods, Franklin Farms and Komo Plant-Based Foods. While Vejii is still in the growth phase, the Company recorded a record 1,158% increase in unaudited consolidated revenue for January. If you want to learn more about Vejii, check out Equity Guru’s latest “Gauntlet” series with Chris Parry!
Vejii stock price opened at $0.08 today, down from a previous close of $0.08. Shares of the company were trading at $0.08 as of 11:06 a.m. EST.
Full disclosure: Vejii Holdings Ltd. (VEJI.C) is a marketing client of Equity Guru.