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- Confectionary business Candy Club (CLB) has entered back-to-back trading halts ahead of a capital raise
- Candy Club offers monthly candy box subscriptions as well as one-off gift boxes that can be personalised
- As of October this year, the company achieved an 85.4 per cent year-on-year increase in revenue
- Its customer base has also grown from 1888 at the end of last year to nearly 8000 earlier this month
- To continue the momentum, Candy Club is planning to develop new products, marketing initiatives, and strengthen its business-to-consumer and business-to-business models
- Company shares last traded on Thursday, November 19, for 12.5 cents
Candy Club (CLB) has entered back-to-back trading halts ahead of a proposed capital raise.
The confectionary company will remain in a trading halt until Thursday, November 26, unless details of the raise are announced earlier.
Candy Club is a California-based confectionary business which essentially offers monthly subscriptions for candy boxes as well as offering one-off gift boxes that can be personalised.
In a business update released earlier this month, Candy Club recalled the year that has been. Between January and October this year, Candy Club’s total revenue (including business-to-business and business-to-consumer sales) enjoyed a sweet 85.4 per cent year-on-year increase.
Its customer base has grown significantly from 1888 as of December 31, 2019, to nearly 8000 at the time of the report.
A further highlight is securing big-name distribution partners, including Bloomingdales, Macy’s, Nordstrom Rack, Caribou Coffee, Hallmark Stores and Winco.
As part of its focus to build sales and marketing initiatives and expand its distribution footprint, Candy Club has a number of initiatives underway that the upcoming capital raise may support.
The consumer stock is planning to develop new products, marketing initiatives, grow the business-to-business customer and revenue base, develop its business-to-consumer subscription business, and more.
Company shares last traded on Thursday, November 19, for 12.5 cents.
