News and Announcements
1Above FY16 Update: North America Launch, Revenue Increased 33%, New Management Team
- Published July 12, 2016 11:33AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
1Above is the worlds only complete solution to jet lag and travel recovery servicing a potential market of over 3.6b air travel passengers. 1Above is now positioned for global expansion. After road testing their model for the past 4 years across NZ & Australia the choice has been made to focus on partnering with global travel retail partners to expedite scale in key travel hubs. 4 major customers can provide access to 90% of the worlds biggest airport hubs and markets.
In the past 12 months we have launched into North America and will be present in over 550 stores by the end of 2016. A global deal has been struck with WH Smith International across 11 countries, the UK, Denmark and Sweden and discussions have started with Lagardere, the worlds biggest travel retailer to potentially secure 1,200 store locations through their network.
Revenues have increased 33% to $2.4m (FY16) with FY17 revenues forecasted to be $NZ3.2m, FY18 $NZ8.7m and FY19 $NZ12.8m. Gross margin is maintained at over 60%.
New management team has been established with over 70 years of combined FMCG experience across the globe. Looking to raise $NZ2.5m in July 16 with $NZ1m already confirmed.
ABOUT 1ABOVE
1Above – The Flight Drink- is a functional beverage that helps address the pain points of air travel: travel fatigue / jet lag, hydration, circulation, and immunity. It does this through its clinically supported ingredients and the product is available in Ready to Drink (RTD), concentrate and effervescent tablet formats.
1Above’s core purpose and brand proposition is to help airline passengers “arrive ready” every time.
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