(PRESS RELEASE) NEW YORK – Better Choice Company (NYSE: BTTR) (the “Company” or “Better Choice”), a pet health and wellness company, announced that consumers purchased $2.6 million of Better Choice branded product during Singles Day. Singles Day, also known as Double 11, is the largest online shopping event in the world and takes place in China each year in the weeks leading up to November 11th. Relative to Singles Day 2020, end-consumer purchases of Halo products increased more than 4-fold, driven primarily by significant new customer acquisition.
Better Choice expects 2021 full year international sales to total $14 million – $15 million, representing a 65% – 70% year-over-year increase relative to 2020 sales of $8.6 million. The Company previously announced aggregate minimum purchases with key Asian distribution partners totaling more than $100 million in sales from 2021 – 2025 and has exceeded its year one target for 2021.
Rob Sauermann, executive vice president – strategy commented, “We are very pleased with the continued growth we are experiencing in Asia, which has been driven in part by the doubling of household pet ownership in China over the last decade. Our Singles Day performance is a confirmation of our brand loyalty and a testament to our strong partnership with Penefit, who lead our sales and marketing efforts in China. We are looking forward to continuing to execute our growth strategy in 2022 and are constantly evaluating new and exciting ways to partner with our international consumers.”
To accelerate growth, Better Choice is deploying unique marketing strategies in Asia that highlight the premium nature of the Halo Brand and emphasize its mission driven approach, including its partnership with a well-known Chinese model and international fashion icon.
“Our brand partnership strategy communicates quality to the Chinese consumer and connects directly with our younger, millennial and gen-z customers. As an authentic, mission driven pet lover, his message that ‘Every Pet has its own Halo’ links directly to our identity as a brand worldwide,” said Scott Lerner, CEO of Better Choice.