MANAGING DIRECTOR’S REPORT
6,000,000
4,991,269
4,716,447
4,284,172
4,248,881
3,919,050
Private Label Sales
4,000,000
2,000,000
–
2017
2018
2019
2020
2021
Private Label sales, which includes our brands Nutrivital, Organic Road (OR) and Natural Road (NR) and Cleopatra’s have performed well. NutriVital sales 20-21 year versus prior year finished 5% ahead despite unprecedented sales in the March-June 2020 period. Launching new products during 20-21 was not without its challenges with difficulties in securing raw materials, delays in manufacturing, lockdowns and freight delays all pushing out lead times. Despite this we still managed to launch 12 new SKUs – 6 new product SKUs and 6 product SKU formula upgrades. Total sales for NPD represented 6% of sales for 20-21 year. The continuous work on bringing new products to market and refreshing the range, particularly with their better margins, has helped to significantly lift our profit performance. Additionally, after the loss of some major brands from the warehouse this year due to supplier consolidation and diversification into other channels, our buying team have diligently pursued new and unique products to complement our already significant offering.
Sixteen new suppliers have been added to our warehouse generating $500K in revenue, which helps mitigate the drop in revenue from the brands lost to the warehouse. We also consolidated the range and 35 suppliers were reviewed and exited the warehouse. Organic Road and Natural Road ranged 18 new SKU’s generating an additional $200K in revenue. Overall revenue for OR and NR increased by $120K with a decrease in margin due to stores taking advantage of bulk buys.
GO VITA GROUP LIMITED ANNUAL REPORT 2020-2021 I 19
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