KoRo 2 | Updates

By Constantinos Calios

KoRo reports new sales record, remains profitable and expands abroad

Public
Public

Dear Companists,

we publish our second update here. We would like to thank all investors who believe in us and our vision for the great support. This update will focus on sales development and international expansion:

 

I. Sales development

As can be seen from the recently made available investor update Q1 2019 for existing investors, both sales and operating result have developed very satisfactorily. This trend continues in Q2, so that we can announce the historically best sales month for May 2019: 425,910.13 Euro. EBIT is expected to be positive, so we are still waiting for the tax consultant's evaluation.

KoRo - Umsatz

KoRo - EBIT

 

We have not only increased our number of customers, but are also broadly positioned with our existing product range, which means that we will not only be able to keep sales stable with further products in the pipeline during the summer months, but will also be able to increase them further. The next sales milestone is to crack half a million sales per month, which is not far away. It is also pleasing to note in this context that KoRo is not growing by leaps and bounds in terms of sales, but is continuing to grow steadily and gradually.

For future measures, this means that we can plan realistic next steps. We are currently focusing on developing further products for the summer months that are a perfect complement to products that are already successfully placed on the market, such as coconut water. These include cold-pressed juices and iced teas in various combinations.

On the EBIT side, we are continuing to work successfully on further increasing this figure. In Q2, various cost optimizations are planned, including in logistics. We have increased the speed of our scanning and picking processes through the targeted further development of our ERP software in cooperation with Xentral, which will enable us to further reduce our logistics costs and thus our costs. The ever-increasing volume of parcels will also influence the shipping price at DHL.

 

II. international expansion

As far as international expansion is concerned, we are pleased to announce to all Companists that we have succeeded in opening up new markets: We are currently launching the following countries:

 

The shops will not be launched until next week, so that they will be visible in the normal dropdown and footer. But we would like to pass this on to the Companists as Insights. The selection of which countries we start the expansion with is always based on 2 criteria, which have to be fulfilled either together or individually:

  1. The country must already generate sales via the normal shop
  2. Market and competition analysis has shown that the country has great potential for development.

 

The first criterion applies to Italy. We have already achieved 4-digit sales in Italy this year, although we have not implemented any marketing measures and do not offer any low shipping costs to Italy. The presence of competitors such as Foodspring in Italy shows that there is potential for KoRo.

The second criterion applies to Sweden and Finland. We have analysed the market and found that consumer prices are high. Our specialised logistics solution via Seven Senders enables us to enter the market very efficiently by building up a customer base in combination with adjusted product prices and influencer marketing.

In order to keep the risk generally manageable, we first set up the shops in English and see if an increase in sales is crystallizing. Then, in a second step, we release appropriate resources to translate the local language and tackle marketing measures even more intensively.


We continue to step on the gas and are pleased that things are going well.

Many greetings
Kosta



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