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Zoetic Interntnl PLC (ZOE)

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Friday 16 April, 2021

Zoetic Interntnl PLC

Trading Update

RNS Number : 6598V
Zoetic International PLC
16 April 2021
 

For immediate release

16 April 2021

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310

 

Zoetic International plc

('Zoetic' or the 'Group')

 

Trading Update

 

Zoetic, the international CBD group, is pleased to provide an update on its operations.

 

Overview

· US rollout continues following October 2020 launch

Chill products expected to be stocked in over 3,500 stores by July 2021

Broader consumer base targeted as brand enters new markets

 

· New product launches across both core brands

Chill brand CBD smokes to launch in the UK during Q2-2021

New anti-ageing skincare cosmetics line to launch with the new Zoetic website

 

· Product websites due for relaunch in coming weeks

Thechillway.com to launch with multi-lingual and currency options to facilitate international sales

Zoetic.com redesigned to cater to the luxury market

 

US rollout

 

The Group is pleased to report that the rollout of its Chill brand of tobacco alternative products continues at considerable speed. Since the announcement on 28 October 2020, further orders have been placed by major distribution partners as the brand expands across the US towards full commercialisation.

 

By July 2021, it is expected that Chill products will be on sale in 3,500 high footfall outlets. This milestone will also mark the Chill brand's full entrance into new high-growth markets including Florida, Georgia, Virginia, North Carolina, Indiana, California, and Missouri.

 

This rollout will continue to ramp up over the course of the next 10 to 12 months and the information gathered during this initial phase will allow Zoetic to guide its strategy.

 

International product launches

 

Zoetic products are set to expand both in terms of range and international availability.

 

This includes Chill-branded CBD smokes, which are tobacco and nicotine-free, entering the UK market for the first time. Consumers will be able to purchase these products during Q2-2021.

 

Additionally, new anti-ageing skincare products have been added to the Zoetic range of cosmetics products. As the brand's line of CBD skincare products continue to attract critical acclaim, the Group anticipates high demand for this new range as Zoetic continues to cement itself as a major contender in the luxury market.

 

Relaunch of product websites

 

As the Group's core CBD brands continue to grow in popularity, its product websites have been redesigned and are now due to relaunch in the coming weeks.

 

The online home of the Chill range of CBD products, thechillway.com, has been equipped with multi-lingual and international currency options to better facilitate worldwide sales as the global market for tobacco-substitute products expands.

 

The Zoetic.com website, which hosts the Group's Zoetic-branded CBD cosmetics products, has been overhauled to specifically cater to the luxury sector.  With multi-lingual and various currency options due to follow in the near future, Zoetic will soon be equipped to scale on an international level across its full product range.

 

Trevor Taylor, Co-CEO of Zoetic, said: "This is a busy and exciting time for us as our products enter new regions and we capitalise on the growing health and CBD trends in our key markets. We are particularly enthusiastic about the launch of Chill-brand CBD smokes in the UK, and we are working hard to ensure that their debut in this largely untapped market is a success. The timing for the launch is ideal as we have recently received news that our CBD products passed the Food Standards Agency's administrative check, which all CBD brands in the UK must now pass before they can be sold."

 

Antonio Russo, Co-CEO of Zoetic, added: "With a rapidly growing physical store footprint and encouraging ecommerce sales figures, our products are now reaching more consumers than ever before.  As always, we endeavour to provide investors with the opportunity to access this high-growth sector through online channels and landmark distribution agreements. We look forward to updating the market further when we report our full-year results in July."

 

- Ends -

 

Publication on website

 

A copy of this announcement is also available on the Group's website at www.zoeticinternational.com

 

Media enquiries:

Zoetic International plc

 

c/o Buchanan

Trevor Taylor, Co-CEO

Antonio Russo, Co-CEO

 

 

 

Allenby Capital Limited (Financial Adviser and Broker)

 

+44 (0) 20 3328 5656

Nick Harriss (Corporate Finance)

 

 

Nick Naylor (Corporate Finance)

 

 

Kelly Gardiner (Equity Sales)

 

 

 

Buchanan

 

 

Henry Harrison-Topham / Jamie Hooper / Ariadna Peretz

 

Tel: +44 (0) 20 7466 5000

[email protected]

 

www.buchanan.uk.com

 

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