CHINO, CA — Caduceus Software Systems Corp., parent of McLovin’s Pet, reports an upswing in revenue through its collaboration with key Trader Joe’s.
Earlier in the year, sales with Trader Joe’s exceeded $3.1 million, according to a press release. Additional orders for the upcoming holiday season will propel this figure beyond $5.5 million by year-end. Trader Joe’s operates over 564 retail stores, offering McLovin’s expansion opportunities in the near future.
More from the release:
Industry Overview
The global pet care industry, valued at a noteworthy $235.32 billion last year, is forecasted to grow to $368.88 billion by 2030 at a CAGR of 5.92%. In the U.S. alone, sales are expected to reach $143.6 billion this year, with the pet food and treats segment contributing $62.7 billion. Within this expanding market, McLovin’s occupies a vantage point for accelerated growth.
Key Achievements in 2023
As of this year, McLovin’s has successfully negotiated profitable distribution agreements with several retail chains. However, the alliance with Trader Joe’s stands as a hallmark accomplishment. Earlier in the year, sales with Trader Joe’s exceeded $3.1 million. The additional seasonal orders for the upcoming Holiday will propel this figure beyond the $5.5 million threshold by year-end. Trader Joe’s currently operates over 564 retail stores, offering McLovin’s significant expansion opportunities in the near future.
Executive Commentary
David Ji, CEO of Caduceus, remarked, “The relationship we’ve cultivated with Trader Joe’s has been extraordinarily beneficial. It has not only augmented McLovin’s market reach but also enabled us to deliver top-tier pet products to an increasingly broad customer base. Attaining the projected $5.5 million revenue milestone is a clear indication of our dedicated team and the customer loyalty we have engendered.”
Future Outlook
With strategic growth plans, McLovin’s is geared to broaden its product line and explore new market segments. The updated orders with Trader Joe’s act as a pivotal driver for a transformative year ahead for the company.
About Caduceus Software Systems Corp.
Caduceus Software Systems Corp is a Wyoming-based holding company with its wholly owned subsidiary McLovin’s, a Pet Food and Pet Care company. The global pet food market was projected to grow from USD 115.50 billion in 2022 to USD 163.70 billion by 2029, exhibiting a CAGR of 5.11%. The global pet care market size was valued at $235.32 billion in 2022 & is projected to grow from $246.66 billion in 2023 to $368.88 billion by 2030. The Pet Food and Pet Care products include food, treats, toys and supplies. The Company is traded on the OTC Markets under the trading symbol “CSOC”.
About McLovin’s Pet
McLovin’s Pet is a California company specialized in the manufacturing and distribution of quality pet foods. At McLovin’s, our natural freeze-dried raw treats are made using only the freshest ingredients, responsibly sourced from farmers, ranchers, and fishermen we know and trust in the U.S. and Canada. McLovin’s never adds hormones, antibiotics, or anything artificial. Our science-based approach to premium, biologically appropriate raw nutrition supports your pet’s overall health and well-being.
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