Chill Brands to sell Chill ZERO vapes in 'top five' UK supermarket

(Sharecast News) - Chill Brands said on Wednesday that it has struck a deal for its Chill ZERO nicotine-free vapour products to be sold in a "top five" UK supermarket.

The company said it has received a substantial initial purchase order which will see the listing of its Chill ZERO products in 1,500 of the supermarket chain's stores.

The products will enter the stores in the first quarter of 2024. Following this roll-out, Chill ZERO vape products will have been sold into more than 2,100 locations in the UK, including independent and chain stores, receiving combined gross sales and purchase orders in excess of £1.85m since their launch on 7 August 2023.

Chief executive Callum Sommerton said: "I am thrilled and immensely proud to announce that we have reached agreement to sell our Chill ZERO vape products into a major UK supermarket.

"This milestone not only signifies a major leap forward for Chill Brands in terms of revenues, but also serves as a resounding validation of our product's appeal and the strength of our brand.

"These retail locations offer a high-visibility platform for our products, enhancing their sales potential while improving recognition of the Chill brand. We look forward to launching into their supermarket and convenience stores in early 2024 as we further solidify our position in the market."

The company also said on Wednesday that in order to support the continued growth of its sales channels while facilitating the working capital needs of the order, it has secured a supply chain debt financing facility from major shareholder Jonathan Swann.

The facility has a total credit limit of £1m and carries a monthly interest rate of 2% on funds drawn.

At 0815 GMT, the shares were up 7.9% at 5.66p.