The dairy-free dessert brand saw sales revenues grow by 29% despite profitability being hindered by continued investment in international expansion. The company’s sales rose from £11.9m in 2019 to £15.2m in 2020 as Covid boosted consumer demand, and gross profits from £3.5m to £5.3m despite operating losses increasing from £3.7m to £3.8m due to continued investment in the US.
Coconut Collaborative also has a growing presence in France, Germany and Ireland; and created a Dutch subsidiary to trade with the EU and overcome Brexit cross border regulations.
Founder and MD James Averdieck said: “We are now the clear challenger brand in plant-based yoghurts and desserts with 16% market share behind Alpro at 52%, but we are now driving the majority of the category growth.”.
The company will look for agency partners as it continues to expand and reach new markets. Can you contribute to its domestic and international growth plans? ALF can introduce you to its marketing team.