TIDMVOY
RNS Number : 8864K
Voyager Life PLC
07 September 2021
7 September 2021
Voyager Life plc
("Voyager" or the "Company")
Operational update
Voyager, the health and wellness company established to supply
high-quality Cannabidiol (CBD) and hemp seed oil products , is
pleased to provide the following update on its operations.
Highlights:
-- Two new stores secured following the successful opening in St Andrews
-- Products stocked in more than 70 third-party stores
-- Re-branding complete and new product lines launching this week
The Company's strategy is to generate revenue through three
complementary avenues - its own stores, third-party retailers, and
online.
Voyager's own stores
Voyager's first store in St Andrews, Scotland, has been open for
over a month and trading remains strong with the Company's CBD oils
and CBD cooling cream being particularly popular sellers to date.
As the product range expands, with the new skincare range
introduced this week, the management team is optimistic about
making further progress in this area over the coming months.
It was always Voyager's intention to open a small number of
proprietary stores and the success in St Andrews suggests UK high
streets are under-served by high quality CBD sales outlets.
Following a search for suitable additional premises, Voyager can
announce that it has had offers accepted on new stores in Dundee
and Edinburgh. Legal documentation is now underway, and the
Company's target is to open both in time for Christmas trading.
The Dundee store is within sight of the highly popular V&A
Museum and opposite the Malmaison Hotel. The waterfront area of the
city continues to be developed and the associated footfall makes
this an ideal location for Voyager.
The Edinburgh store is in the middle of the shopping district in
the popular suburb of Stockbridge. The premises previously operated
as a café and has already been fitted out to a high standard.
Management expects this will reduce the cost and time of its own
preparations to open. It will also suit the continuation of its
very successful strategy in St Andrews of selling coffees and other
hot drinks with the option for customers to add CBD. Both new
stores will also stock a variety of exclusive products that are not
available online as well as a small number of guest brands.
Retail premises in Scotland continue to benefit from 100%
non-domestic rates relief until April 2022 and, with unallocated
places on the Company's Kickstart application, management are
confident of keeping costs down as the new shops are opened.
Third-party stores
Considerable progress has been made over the summer, and
Voyager's products are now stocked in over 70 third-party retail
stores in Scotland and England. Significant new customers include
Loch Leven's Larder, Glendoick Garden Centre, WCF Pet &
Equestrian and, most recently, Harbro.
CBD retail in the UK remains highly competitive but the
Company's high quality product range and competitive price point is
proving attractive and the Board is very pleased with the current
customer conversion ratio.
Voyager's pet range continues to be very popular and to support
continued growth in this area the Company recently launched two new
hemp seed oil products - a pet shampoo and pet deodorant.
Next week Voyager will exhibit at its first trade fair, Glee,
one of the UK's leading garden and outdoor living events, at the
NEC in Birmingham. Building on the Company's recent success with
garden centres and country stores, this represents an opportunity
to present to a wide range of that retail segment. Later in the
month Voyager will be at the Scottish Game Fair at Scone Palace in
Perthshire. With the National Health Trade Summit (Manchester) in
October and Look Good Live (Coventry) in November, the Company has
several opportunities in place during the autumn to continue to
develop its customer base.
Online sales
Until late May of this year, online sales represented almost
100% of Voyager's business but, as predicted, this is now the
smallest contributor to revenue following the strong growth of the
Company's other business lines. The Company's own website (
www.VoyagerCBD.com ) remains the main source of online revenue
although Voyager products are still available on over 20 other CBD
and hemp focused websites and online marketplaces. Amazon has been
particularly noteworthy for sales of hemp hand cream and hemp lip
balm.
Over the summer, Voyager completed its re-branding, with new
labels and packaging rolled out across the range. The next step is
to upgrade the Company's website and work is already underway.
Reflecting the Company's success in physical retail, the Board
continues to believe that online sales will still form a minority
part of the Company's offering, albeit at the highest margin.
Nevertheless, as Voyager's brand recognition develops, the Board's
view is that a substantial growth opportunity exists online, and
its strategy is to develop this over the remainder of 2021 and
during 2022.
Nick Tulloch, Chief Executive Officer and Founder of Voyager,
said: "A little over two months on from our IPO, I am pleased to
report that our plans are very much on track and that Voyager is
seeing success on a number of fronts. Our diversified business
model, extended retail reach and growing product range has given us
a platform for sustained growth.
"The rapid growth of the CBD and hemp market, both in the UK and
abroad, is well reported and we remain convinced that a significant
opportunity exists to build a trusted brand. Feedback from both
retail and business customers has demonstrated that there is a
growing awareness and interest in CBD and hemp and our policy of
providing clear and accurate information, coupled with high quality
products that are fairly priced, is generating increasing
interest.
"We have a great deal more to do, of course, and the final
months of 2021 will be extremely busy for all of the Voyager team
as we develop the three sides of our business. Team morale is very
high and each customer order further convinces us of the
opportunities still to come as we seek to further build revenue and
drive long-term shareholder value."
ENDS
Enquiries:
Voyager
Nick Tulloch - nick@voyagerlife.uk / 01738 505 130
http://voyagerlife.uk
Charlotte Street Partners (financial communications)
David Gaffney - david.gaffney@charlottestpartners.co.uk / +44
(0) 7854 609 998
Tom Gillingham - tom.gillingham@charlottestpartners.co.uk / +44
(0) 7741 659021
Andrew Wilson - andrew@charlottestpartners.co.uk / +44 (0)7810
636 995
Cairn Financial Advisers LLP (AQSE Corporate Adviser)
Liam Murray or Ludovico Lazzaretti +44 (0) 20 72130 880
Notes to Editors:
About Voyager
Voyager is based in Perth, Scotland, and was established to
supply high quality CBD and hemp products. In line with UK
regulations, the Company makes no medicinal claims but guarantees
to customers that its products as are described on their labels and
on its website. Voyager focuses its resources on product
formulations and retail and outsources its manufacturing to
specialists. The Company's philosophy of plant-based health and
wellness is embodied in its mission statement and hashtag of
"Choose you". With an experienced team and a product line created
in line with the UK's regulatory regime, Voyager aims to become the
trusted brand in this increasingly popular health and wellness
space.
Website and social media links:
https://voyagercbd.com/
https://www.instagram.com/voyagercbd/
https://twitter.com/voyagercbd
https://www.linkedin.com/company/voyager-cbd/
https://www.facebook.com/VoyagerCBD/
What is CBD?
CBD, or cannabidiol, is the best known and most abundant
cannabinoid in hemp, one of the plants in the cannabis family which
is sometimes referred to as cannabis sativa. There are at least 113
identified cannabinoids and there is ongoing scientific research
into CBD. Unlike THC (Tetrahydrocannabinol), which is also sourced
from certain plants in the cannabis family, CBD is not
psychoactive, so it does not change a person's state of mind when
they use it. Voyager CBD products do not contain any THC.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NEXFLFLEAAIRIIL
(END) Dow Jones Newswires
September 07, 2021 02:00 ET (06:00 GMT)
Voyager Life (AQSE:VOY)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Voyager Life (AQSE:VOY)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024