Phivida Announces Record December Sales from its Bloomgroove Platform and Streamlines Management Team

Published: January 16, 2020

Phivida Announces Record December Sales from its Bloomgroove Platform and Streamlines Management Team

Phivida Holdings Inc. reported growing sales figures from its Bloomgroove.com e-commerce platform, reaching upwards of $225,000 (CAD) in sales during the holiday season, which more than doubled sales from Bloomgroove over the previous month’s Black Friday sales. The site also saw traffic increase by 78% in December compared to the previous month.

Phivida’s progress with Bloomgroove comes amid management’s increased focus on growing the Company’s digital marketplace offerings in order to meet changing demands in the cannabis market.  Additionally, Phivida has taken steps to pivot its distribution strategy with respect to its CBD beverages and consumer packaged goods business, including by streamlining its management team. Accordingly, Greg McCauley (Senior Vice President of Distribution) and Doug Campbell (Chief Commercial Officer) have departed the Company.  These changes are part of the Company’s ongoing efforts to optimize operations, reduce expense and focus on diversifying its portfolio of digital retail platforms.

“We are seeing great results from building and operating online marketplaces like Bloomgroove, which offer us, and third-party vendors, easy and direct access to cannabis consumers,” said David Moon, Interim CEO at Phivida. Mr. Moon added, “Our strategic approach is to respond swiftly to shifting consumer and CBD market demands in the US and Canada, using data gathered through our various platforms, to be ahead of the curve and build a leading position in the market, especially in online retail.”

Bloomgroove, launched in September 2019, is a custom-built e-commerce platform that is fast and user‑intuitive, featuring cannabis accessories from reputable manufacturers, such as Storz & Bickel, Arizer, Grenco Science, and DaVinci. As well as selling products from the site, Bloomgroove also hosts independent storefronts where sellers can operate their own stores, leveraging Bloomgroove’s proprietary sales engine. For the month of December Bloomgroove reported aggregate sales (Canada and US) of approximately $225,130.00 (CAD). Readers should note that these sales figures have not been audited and are subject to adjustment.

The end of the last quarter also saw Phivida’s Wikala.com e-commerce platform officially go live in the US. The CBD marketplace provides consumers with a wide array of CBD products from Phivida’s line of products, in addition to third party vendors, who now have an easy, accessible and responsive digital marketplace to increase their exposure and sales to CBD consumers.

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