PHVAF - Phivida Expands Distribution of Oki Beverages into New York through Partnership Agreement with Gotham Brands
VANCOUVER and SAN DIEGO, Oct. 28, 2019 /PRNewswire/ - Phivida Holdings Inc. (CSE:VIDA; OTC:PHVAF) ("Phivida"), is pleased to announce that it has signed an agreement with Gotham Brands ("Gotham") to handle sales, merchandising and distribution in New York City for its line of Oki beverages.
Gotham Brands is a leading full-service brand builder that deploys experienced sales teams, merchandisers, in-store demo teams and guerilla event staff to grow and manage new and developing brands in the highly competitive market of New York City. Gotham supports its brands across the five boroughs of New York City. Brands represented by Gotham include La Croix, Runa, Eternal Water, Love Beets and Arteasan.
"This agreement is a major milestone for both Phivida and our Oki brand. We are pleased that the team at Gotham has recognized that we have a product and brand that can win in one of, if not the most, competitive beverage markets in the world," said Jim Bailey, President and CEO of Phivida. "Gotham will be receiving its first shipment next week, and our team will work with them to launch Oki in outlets throughout New York City from November 1, 2019."
"We are pleased to partner with Phivida to introduce Oki beverages to New York customers. We see big potential in this fast-growing category and are excited to be working with Jim and his team to be the first to open the New York market for Oki," said Trent Moffat, Owner of Gotham Brands.
With the addition of New York, Oki beverages are now available in five states, including California, Colorado, Nevada and Texas. The brand has experienced particularly strong growth, with over 200 percent growth in distribution in the last two months alone.
"As the CBD market heats up with more competition from many new entrants, Oki beverages have continued to be successful, with high sampling conversion rates and solid sales," added Mr. Bailey. "We look forward to introducing Oki to New York City consumers and expect our momentum will continue in moving into new states and adding new retailers nationally."
Oki is a unique line of beverages in eight refreshing flavors and contains 20 milligrams of CBD derived naturally from broad-spectrum hemp extract. It is available at retailers in five states and online at feeloki.com.
ABOUT Phivida Holdings Inc.
Phivida Holdings Inc. is headquartered in Vancouver, BC, with operations in San Diego, CA. Phivida is a premium functional food and beverage company focused on whole plant nutrition and natural ingredients that help best maintain overall health and balance in the human body. The company infuses broad spectrum hemp extract with CBD into a variety of premium beverages and personal care products for everyday health. Phivida embraces and celebrates a return to organic, natural, plant-based foods and beverages, and a focus on holistic health and wellness. The vision is to become the leader in whole-plant solutions by providing holistic remedies for a more natural alternative to pharmaceuticals, and guiding people toward a vibrant, healthy life. For more information, visit phivida.com.
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SOURCE Phivida Holdings Inc.