Pangea Organics is a leader in the organic skin care market. The company recently launched a new line - Alpine Provisions, which includes 100% biodegradable, natural, organic, and sustainably sourced Castile Soap, Deodorant, Shampoo & Conditioner and Lip Balm. We will be using this raise to fund new inventory production for our signature Pangea Organics Skincare and Bodycare products and the expanding Alpine Provisions line.
These products are sold direct to consumer through our website and Amazon as well as through our key distribution partners. Overall, our Dotcom Sessions are +15%, Return Customer Rate is up 30%, and our AOV is +10%.
Pangea and Alpine Provisions have shown tremendous account growth since January. We’ve received orders or commitments to order from approximately 200+ new Pangea Independent and chain accounts such as Earth Fare (53 locations), New Seasons (20), Follain (6), and Central Market (10). With Alpine Provisions, we’ve opened or have commitments for 500 new accounts like Fresh Thyme (77), Earth Fare (53), Mom’s (19), etc. The opening orders for these new accounts, along with increased traffic to Dotcom and Amazon have pulled our inventory levels down in best-sellers. With new account future orders for chains like HEB (156), Bristol Farms (15), Thrive (high traffic online business) along with meetings in the works with Ulta and other large retailers, we need to increase our on-hand inventory to meet added demand and keep replenishment flowing to our newly opened accounts. As we get ready to launch the Alpine Provisions Deodorants, the added SKU count in Alpine encourages stores who have passed on the brand before to place an order since our assortment will increase to 11 SKUs. The added inventory $ investment will help us build inventory in key SKUs like the Alpine Provisions Castile Soap 16 FL OZ and Pangea Hand Creams and Body Washes. Another factor in our need for added funding to support this explosive growth is that we’ve opened so many accounts that their payments haven’t come due yet, or are just coming due. Our sales YOY through May are a robust +38% and our Q2 through May has increased significantly to +93% to LY. We will continue to build growth on a steep trajectory and with the added funds to ensure a continuous in stock position, that sell through will continue to increase momentum.
This is the first of a 2 Co-Op push (~$160k total) that addresses our upcoming production costs for a number of different suppliers in order of when payments will be made. Also, for those of you that are participating in our live Co-Op (2), our inventory landed on time and we are selling fast!