- Citing larger distributor and private-label orders, VPRB reported revenues of $1.58 million for Q2 2019
- The company also reported a 31 percent increase in sales
- VPRB attained an uplisting to the OCTQB Venture Market
VPR Brands LP (OTCQB: VPRB), a multi-vertical, tiered company in the cannabis space, has increased its sales significantly through larger distributor and private-label orders, growing its quarterly figure to $1.58 million for the three-month period ended June 30 to record a 31 percent increase over the same period of 2018. VPRB also reported a 31 percent year-over-year sales increase for the six months ended June 30, 2019 (http://cnw.fm/3qFIk).
As the company’s sales jumped, VPRB also achieved an OTCQB uplisting, reflecting its current reporting status, as well as annual verification and management certification. The company noted that such a move helps build shareholder value and enhances liquidity and fair valuation (http://cnw.fm/ZJu9d).
“The results of putting our newly raised capital to work in Q2 were increased sales and larger distributor and private-label orders, which are key components to our growth strategy and will allow the company to continue to increase revenues and scale the business going forward,” VPRB CEO Kevin Frija stated in a news release.
VPRB anticipates being able to decrease product costs as it reaches larger volume, allowing it to achieve its target 40 percent margins. “In the second quarter of 2019, VPR Brands was able to invest in expanding product lines and on hand inventory to be able to acquire new distributors and better meet demand,” added VPRB COO Dan Hoff. “Launching our new variable voltage twist battery played a big part in gaining entry level product market share in the below $25.00 MSRP range.”
VPRB is innovating the vaping experience through its new product, HoneyStick Brand BeeBox Pro Device. This innovation is an integral part of the company’s growth strategy. The new unit enables users to monitor battery life on an LCD screen. The device is also power adjustable to permit dial-in intensity levels for vaping. The result is that users can have a customized experience, controlling cloud, taste and activation. “This is a must-have device for anyone who vapes both nicotine and cannabis, the best of both worlds,” noted Frija (http://cnw.fm/eZI0q).
Another component aiding the growth of VPRB is the depth of the company’s management experience. Frija has 29 years of experience in the areas of sourcing, manufacturing, supply chain management, marketing, advertising and brand licensing. COO Dan Hoff has been in the vaporizer and e-cigarette industry at Vapor Corp. since the company’s inception in 2007. He has been with VPRB since 2016. Senior sales executive Gary Rep joined VPRB in 2018 but worked for a decade as vice president of sales and marketing at his previous company. VPRB also has senior and experienced management in web design, graphics, importing, international sales and other team positions.
For more information, visit the company’s website at www.VPRBrands.com
NOTE TO INVESTORS: The latest news and updates relating to VPRB are available in the company’s newsroom at http://cnw.fm/VPRB
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