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Despite Volatility, PlantX Continues to Enter New Markets and Expand Ecosystem

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PlantX, which has been dubbed “the Amazon of the plant-based community”, is seeing impressive growth with the rising demand for healthy and sustainable lifestyle products. Despite the economic uncertainty, the Canadian vegan brand has consistently increased its revenue in the last few quarters. PlantX generated $1.54 million in gross revenue in May 2022, an increase of 115% compared to May 2021. The company is expanding its online and physical presence through the acquisition of high-quality businesses and strategic partnerships with well-known brands and celebrity chefs. PlantX is also leveraging the growing e-commerce market by partnering with major e-commerce channels such as thebay.com, amazon.com, Walmart.com, and Walmart.ca to provide high-quality items to the plant-based community. The company currently offers over 10,000 plant-based products across North America and is also gradually expanding in the United Kingdom and Israel.

PlantX Continues to Expand Its Ecosystem

PlantX, the digital face of the plant-based community, has made significant investments in improving the quality of its existing services and programs to increase brand awareness and expand its consumer base. Last year, PlantX launched PlantX Shop, an app designed to enhance customer engagement and satisfaction, and the company also introduced XFitness for XVIP members, an online fitness service that offers a variety of live and on-demand fitness classes delivered by professional instructors.

The company is also entering the $284 billion alcoholic beverages market after receiving a license to sell and distribute alcoholic beverages in its retail locations in Chicago, Illinois, and Venice Beach, California. This will allow the company to provide high-quality, sustainable, and ethical alcoholic beverages while also tapping into new market opportunities.

PlantX recently disclosed the U.S. expansion of its XMeals online platform. Customers can access XMeals plant-based menu items and meal plans through the company's new website, xmeals.com. XMeals was launched in July 2021 and offers both a subscription-based service and one-time purchases from PlantX’s weekly à la carte menu options. Subscribers can get at least three chef-curated meals delivered weekly or monthly. Additionally, the company offers 3 and 5-day meal plans, which include wholesome plant-based breakfasts, lunches, and dinners selected by a licensed dietitian and member of the Medical Advisory Board.

Partnerships With Top Tier Vegan/Plant-Based Brands 

The company is expanding its product and service ecosystem through partnerships and acquisitions. For example. the company announced in May a partnership with Instacart, one of the largest providers of grocery delivery and pick-up services in the United States and Canada, to offer same-day delivery to establish itself as a one-stop-shop for everything plant-based.

In addition to expanding its brand, the company is lowering entry barriers to promote a healthy, plant-based lifestyle. PlantX launched the "Vegan Popup by XMarket" initiative in April to support both new and established plant-based brands by offering its brick-and-mortar retail space in Venice Beach as a pop-up installation. PlantX employs a 2 to-3-month rotational system to support as many plant-based brands to test their products in a retail setting and raise brand awareness by hosting interactive community-building events.

Dream Pops, a leading frozen novelty company that produces plant-based, low-calorie pops and bites, is the latest marketing tenant of PlantX's pop-up retail initiative. Dream Pops products are available to customers during sampling events and are prominently displayed throughout the store and all other PlantX locations. PlantX also collaborated with local artists Michael Marston and Patrick Brunt to design a Dream Pops-themed dreamscapes mural covering the exterior of the Pop-up shop. This initiative, as well as the company's expanding partnerships with impactful and diverse plant-based brands, demonstrates the company's leadership in the plant-based market.

The company is reaping this growth on the back of its continuous investments in expanding and improving its retail and e-commerce capabilities. PlantX recently celebrated the first anniversary of its Squamish brick-and-mortar location with an all-day celebration that included giveaways, free samples, live music, and a barbecue sponsored by Future Farm, a plant-based food company.

Conclusion

PlantX is moving in the right direction by expanding its products and partnerships, and the company has reached significant milestones this year by clocking in stellar revenue growth every month. With vast potential for growth, PlantX appears to be well-positioned to disrupt the global food industry by facilitating the rise of plant-based food.

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