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- BEVERAGE R&D
Vemma Nutrition Co. announced that its sales reached $20 million per month in July, which is a record for the Scottsdale, Ariz.-based company. After taking seven years to reach the $10 million monthly sales mark in July 2012, Vemma doubled that number one year later. In addition, Vemma monthly customer and brand partner enrollments reached the 30,000 mark for the first time in July. This growth continues to be driven by the $100 million Verve healthy energy drink brand, including the release of Verve Bold in January, which sparked record-breaking sales and became the most successful product launch in the company's history, selling more than 4 million cans in the first five months.
"With this announcement, excitement is high and our team is setting goals that would have seemed impossible just 12 months ago," said Vemma Founder and Chief Executive Officer BK Boreyko in a statement. "We expect sales will continue to increase as school gets back into session, and with the new Verve ParTea, a flavored iced tea energy drink, which will be released this fall, followed by Verve MoJoe, a Vanilla Latte-flavored iced coffee, in January 2014."
Although initially picked up by baby boomers, Verve was fully embraced by millennials two years ago when new product branding, packaging, apps and marketing strategies were created to appeal to a younger demographic, the company says. Vemma responded by creating an award-winning business app that enables distributors to run a business entirely via smartphone. Within a year, Verve became the company's top-selling product and rising sales ignited the biggest growth in Vemma's history.
"Hitting $20 million per month in sales is a milestone, but it's just the beginning," said Vemma Executive Vice President of Marketing and Brand Development Mark Patterson in a statement. "As we enter two of the largest beverage categories, the coffee and tea markets, we're really setting the stage for an awesome 2014. And there's the upcoming launch in January of Vemma's new Chris Powell Bod-e Shake in a ready-to-drink (RTD) can. Verve has taught Vemma an important lesson — RTD is critical for massive acceptance and consumption."