- Fiji Kava (FIJ) has signed a major supply agreement with Australian retail giant Coles
- Per the agreement, Coles will stock Fiji Kava’s capsule range in select supermarkets and online
- Coles will be the first retailer in the world to stock Fiji Kava’s three new capsules for ‘Sleep’, ‘Mind’, and ‘Body’
- The products should be on Coles shelves and available online by June 2020
- Fiji Kava’s share price is down 4.76 per cent, with shares currently trading at 10 cents apiece
Health and wellness company Fiji Kava (FIJ) has entered into a major supply agreement with Australian retail giant Coles.
Per the agreement, Coles will stock Fiji Kava’s range of noble kava extract capsules in select Coles supermarkets and online.
Kava is a plant derivative, native to the Pacific Islands. It is available in liquid and capsule forms and has sedative, anesthetic, and euphoriant properties.
‘Noble’ kava strains are considered to be the safest form to consume, with pleasant effects such as calmness and relaxation.
In addition to the existing range of kava extract capsules, Coles will also stock Fiji Kava’s three new noble kava varieties, ‘Sleep,’ ‘Mind’, and ‘Body’. Coles will be the first retailer in the world to stock these capsules, which promote sleep, soothe and calm the nerves, and relax both mind and body.
Fiji Kava’s products should hit select Coles' shelves by June 2020. They will also be available in Coles’ online store at the same time.
Fiji Kava will scale-up production at their manufacturing plant in Fiji, in order to meet inventory demand for the launch. A strong trade media campaign will raise further awareness and drive sales as the June launch approaches.
Fiji Kava founder and CEO Zane Yoshida, said the supply agreement was “ a major milestone in Fiji Kava’s journey, significantly increasing [Fiji Kava's] retail points of distribution and availability across Australia.”
“The economic impact of the agreement to the company is not able to be determined at this time. We believe it will result in an uplift of consumer awareness, as well as increased sales of Fiji Kava’s products,” Zane continued.
“Fiji Kava’s vertical integrated supply chain […] includes the world’s first noble kava tissue culture laboratory and our nucleus estate in Fiji. [It] guarantees a sustainable and 100% traceable supply of unadulterated noble kava, the key ingredient for Fiji Kava’s products. We are able to produce this at scale to meet growing demand globally for kava, for consumers that are looking for natural alternatives to tackle issues such as stress and insomnia,” he concluded.
In addition to its retail agreements in Australia, Fiji Kava has also launched online via Amazon. The company is looking to secure further opportunities in Chinese e-commerce and daigou markets.
Fiji Kava’s share price is down 4.76 per cent, with shares currently trading at 10 cents apiece.