Forbidden Foods Secures Major Retail Expansion for OMG Coffee Protein
FFF (FFF) Share Update November 2024 Wednesday 20th
Forbidden Foods Expands Product Range in Woolworths Stores
Forbidden Foods Limited (ASX: FFF) has announced a significant expansion of its product range, with its new Oat Milk Goodness (OMG) coffee protein product now available in 456 Woolworths supermarkets across Australia.
Instant Summary:
- OMG coffee protein product now in 456 Woolworths stores.
- Recent expansion into 130 Ampol Foodary locations.
- October sales up 44% from September, totaling $360,000.
- Sponsorship deal with Melbourne Mavericks to boost brand exposure.
Product Expansion Details
Forbidden Foods has successfully launched its new OMG coffee protein product in 456 Woolworths stores nationwide. This expansion marks the third OMG product available in the Woolworths network, following the Choc Oat protein and barista blend oat milk products.
The 350ml ready-to-drink product, launched in October 2024, contains 20g of plant-based protein per serving and is made with an innovative oat and olive oil base. It boasts less than half the sugar content compared to competitors, appealing to health-conscious consumers.
Sales Growth and Retail Strategy
The increased availability of OMG products is expected to drive sales growth. In October 2024, Forbidden Foods reported a 44% increase in sales from the previous month, reaching $360,000. This growth is attributed to the rising demand for their protein range across major retail partners.
In addition to Woolworths, the OMG coffee protein product is also available in 130 Ampol Foodary locations, further broadening its retail footprint. The company is in advanced negotiations with other large retail groups to expand its presence even further.
Marketing and Sponsorship Initiatives
To enhance brand visibility, Forbidden Foods has entered into a corporate sponsorship agreement with the Melbourne Mavericks, a professional netball team. This deal includes branding opportunities and marketing initiatives, targeting the key demographic of health-conscious female consumers.
The sponsorship will feature the Blue Dinosaur logo on the team's warm-up tops and involve player Eleanor Cardwell as a brand ambassador. The partnership aims to leverage the netball audience, with 81% of game day attendees being female, providing a unique marketing channel for the company.
The expansion into Woolworths stores is a strategic move that could significantly boost Forbidden Foods' market share in the health and wellness sector. The increased retail presence is likely to enhance brand recognition and drive sales growth. The sponsorship with the Melbourne Mavericks provides additional marketing leverage, potentially attracting a wider consumer base.
Investor Reaction:
Analysts are optimistic about the expansion, noting that the increased retail presence and strategic marketing initiatives could positively impact Forbidden Foods' market position. However, investors will be watching closely to see if sales growth continues to meet expectations.
Conclusion:
Forbidden Foods' expansion into Woolworths and strategic sponsorship with the Melbourne Mavericks position the company for potential growth in the health and wellness market. Investors should consider the long-term benefits of these initiatives and monitor sales performance in the coming months.