Indiva Reports Record Market Share for January 2021
LONDON, Ontario – February 9, 2021: Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF), the leading Canadian producer of cannabis edibles, is pleased to announce record market share for the month of January. Indiva’s edible products continue to lead, as demonstrated by strong sell through data from Hifyre, and from the OCS, for the month of January.
Estimated market share across the three largest markets of British Columbia, Alberta, and Ontario expanded from 43% in December to 44% share of sales in January, as Indiva again increased its lead in the #1 market share position in the edibles category:
- Ontario #1 with 43% market share. Note: OCS data put Indiva market share in the Edibles category at 41.5% for January.
- Alberta #1 with 45% market share.
- British Columbia #1 with 47% market share.
- Manitoba #1 with 46% market share.
- Yukon #1 with 55% market share.
- Saskatchewan market share declined to 16% in the month of January due to a transition away from the current wholesale/distribution partner.
- As of February, Indiva edible products became available in the North West Territories, bringing distribution across Canada to seven provinces and two territories.
- Wana™ Sour Gummies led the Gummies category with 30% market share overall in edibles across the three largest provinces, a sequential monthly increase in market share of 2%.
- Bhang® continued to lead the chocolate category, with Bhang® Milk Chocolate remaining the top selling chocolate edible SKU nationally.
- Product ranking in January again showed the top three SKUs overall in the edible category continue to be Wana™ Sour Gummies (led by Strawberry-Lemonade 1:1).
- In January, four of the top five, and seven of the top 10 ranking edible SKUs are from Indiva.
“We are very pleased that Indiva’s edible products continue to rank at the top of the category and gain market share, despite several new entrants and products becoming available,” said Niel Marotta, President and Chief Executive Officer of Indiva. “Indiva looks forward to continuing to bring new and innovative best-in-class edible products to of-age Canadian consumers, with additional new products expected to be unveiled and launched in market nationally in the month of March.”
Government and private entities are still assessing the present and future effects of the COVID-19 pandemic. Indiva has continued to operate with enhanced health and safety protocols in place to protect its employees. The Company continues to assess the customer, supply chain, and staffing implications of COVID-19 and is committed to making continuous adjustments to minimize disruption and impact. Indiva will remain proactive in its response to the pandemic and compliant with any and all provincial and/or federal policy enacted to protect Canadians.
Indiva sets the standard for quality and innovation in cannabis. As a Canadian licensed producer, Indiva creates premium pre-rolls, flower, capsules, and edible products and provides production and manufacturing services to peer entities. In Canada, Indiva produces and distributes the award-winning Bhang® Chocolate, Wana™ Sour Gummies, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt, Artisan Batch, and other Powered by INDIVA™ products through license agreements and partnerships. Click here to connect with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here to find more information on the Company and its products.
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