OUTLOOK SWEET FOR YOWIE’S US EXPANSION
AUSTRALIAN confectionary group Yowie is stepping up its US expansion, quadrupling the number of Target stores stocking its treats and moving into more than 8000 convenience stores.
The chocolate and toy company says its products will also be available in more supermarkets on both the east and west coasts of the US.
Its expansion includes speciality stores, including Bed Bath and Beyond with 1530 stores.
The move, which follows a restructure of its US operations this year and a trial in 300 Target stores, would increase sales in the first half of the coming calendar year, Yowie said yesterday.
Yowie specialises in small toys encased in chocolate. Though based in Perth and listed on the Australian Securities Exchange, the group focuses on the US, where its products are made.
Chief operating officer Mark Schuessler said there was scope for further expansion in that market.
“We see distribution growth potential extending beyond fiscal 2018 ... driven by our current product innovation and investments in brand awareness through our marketing programs,” he said.
In October, the company expanded into Canada through a deal with distributor Mondoux Confectionery.
The expansion follows a successful launch in New Zealand in August and a return to Australian shelves in February.