Lifeist’s CannMart brand, Roilty, delivers continued growth in Ontario
April 6, 2023 By Grow Opportunity Staff
(Globe Newswire) Toronto — Lifeist Wellness Inc., a health-tech company that leverages advancements in science and technology to build breakthrough companies that transform human wellness, today announced that Roilty, the in-house brand of Lifeist’s subsidiary, CannMart Inc., has delivered continued sequential, month-over-month and year-over-year growth in Ontario, Canada’s largest provincial cannabis market.
This is highlighted by an over 30 per cent increase in unit sales in Ontario from Q4 2022 to Q1 2023, largely due to the expansion of SKU breadth in the province. The strong performance continues to support expanding gross margins for CannMart and is contributing to improved profitability overall for Lifeist.
Having launched in Ontario with three Roilty SKUs in July 2022, CannMart has secured approval for an additional four SKUs on the most recent provincial submission with the Ontario Cannabis Store (OCS), including a shatter, live resin, distillate vape and an additional multi-pack of live resin. CannMart expects to have at total of 16 Roilty SKUs in the Ontario market by the end of Q3 2023.
Roilty highlights in Ontario:
- Gained 13 per cent in-store penetration in the last 30 days, with 27% of stores carrying one or more Roilty extract products, and 17 per cent of stores carrying Roilty distillate vapes
- King’s Kush live resin is the 6th best-selling live resin in the concentrate subcategory, and is available in 13 per cent of Ontario stores, up 2 per cent over the last 30 days
- 5 per cent market share in the live resin category, and the 7th best-selling brand with only one live resin SKU in the category against competitors with two to three SKUs each (last six months), showing the potential for rapid growth
- Newest general listing live resin multi-pack Roil Purple Berry & Priest’s Punch launched in the last two weeks and already picked up by 150 stores (available both via ocs.ca marketplace and retailers)
- 7 per cent market share in the shatter category as the 5th best-selling brand; both Roilty shatter SKUs within the top 20 products (last three months)
“Roilty’s over 30 per cent growth in Ontario, the largest provincial cannabis market in Canada, speaks volumes for the success and momentum the Roilty brand has garnered. We are leveraging our strong relationship with the OCS, sales trade support at the retail level, and other marketing channels, to expand Roilty across the province, and in doing so, driving higher profitability for our business. In short, Roilty’s growing adoption and larger market presence in Ontario is helping CannMart deliver on one of our key strategic priorities – profitable growth.
“One of Roilty’s additional growth drivers stems from its positioning as a gender-neutral brand. Women are the fastest growing cannabis segment across all age ranges and product categories, especially concentrates. We are leaning into this trend with education and marketing initiatives designed to engage and excite budtenders and retailers against the very masculine-brand heavy competitive set.” — Daniel Stern, CEO, CannMart
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