Divide And Conquer: How Ross Franklin Turns Pure Green Into A Cold Pressed Juice Empire By Leveraging Leaner Infrastructure And CrowdfundingDuring an exclusive Zoom interview, Vieth told me how Laird Superfood has mapped out ambitious growth plans with a heightened focus on improving operations and brand awareness especially for its recently acquiredThese developments also coincide with Laird Superfood’s recent launch of Bright Cups, the company’s first line of BPI-certified pods filled with...
“We’re a company that’s been growing incredibly quickly — over 40% last year, but we've struggled,” said Vieth. “A couple of things happened there: one is we missed our own targets. We still have aggressive targets laid out in front of us, but we've metered [investors] with regards to the amount of optimism versus the amount of realism largely over the course of 2021, so there was a loss of trust.
“The second thing is we have a very aggressive cash burn that's been underway for some time, so we are taking steps now to really draw that in. We're improving our gross margins as we look forward to really putting a lot of focus on the cash opportunities across our balance sheet. In doing that, we'll be able to elongate our cash position, and put ourselves in a much better position to be able to raise capital down the road.
He said: “We're really excited about Picky Bars and where the brand can go. I think that is currently an underutilized asset within our portfolio. They taste absolutely fantastic, but they’re under 1% in terms of awareness today and household penetration. So we're in discussions right now with with a number of retailers about expanding that product out, and see a lot of runway for that.”
However, acquiring and integrating new assets as a relatively small CPG business requires time and thoughtfulness, Vieth acknowledged. He went on to say: “Right now, we're really focused on improving the operation of our business, squeezing out that margin through the opportunities we've identified. As we make our way through that, we'll put our periscope up and take a look at what else is available in the marketplace.
Source: News Formal (newsformal.com)
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