Owner of Zesty Paws and Solid Gold Pet brands, Health and Happiness International Holdings Limited (H&H Group), has published the report of turnover for the first 3 months. Both brands account for H&H’s Pet Nutrition and Care (PNC) which forms the company with its Adult Nutrition and Care (ANC) and Baby Nutrition and Care (BNC) segments.
According to H&H, the PNC and ANC segments mainly contributed to the growths.
“2023 has kicked off with an encouraging Q1, setting the Group up for a promising growth outlook for the rest of the year,” said Akash Bedi, H&H Group’s interim CEO and chief strategy and operations officer. “The Group remained agile and flexible, while reaffirming our leading brand position across multiple markets and ensuring consumer innovation continues to fuel brands’ growth. We are particularly pleased with the continued strong performance of Swisse in mainland China and Australia and New Zealand, along with the growth of the PNC segment in mainland China and North America, led by Zesty Paws.”
“Since our acquisition of Zesty Paws was completed in 2021, North America has become a major source of growth for the Group as we capitalized on the growing pet nutrition industry trends,” Bedi said. “We’re pleased with the performance of both Zesty Paws and Solid Gold in their home market, with Zesty Paws expanding its retail reach in the first quarter of 2023 by adding CVS and Tractor Supply to its distribution network, in addition to Walmart, Target, PetSmart and independent pet stores. It was also encouraging to see Solid Gold follow Zesty Paws to enter leading retailer, Walmart. These expansions aim to increase our retail penetration and attract a wider consumer base.”
“The Group focused on expanding Solid Gold’s presence both online and offline, with the brand now reaching 7,901 supermarkets, pet stores and pet hospitals in the offline market,” Bedi said. “These wins were supported by our focus in remaining at the forefront of consumer and industry trends, such as the increase in pet adoption rates and spending on premium pet nutrition.”
According to the company, it will focus on growth, globalization, and the development of its portfolio as well as strengthen its position as e-commerce leader on Amazon and Chewy.
The company recorded total sales of 3.15 billion yuan ($454.56 million USD) in the first 3 months, an increase of 17.3%.
Bedi has also explained the company’s advance on ESG, like sustainability KPI and reduction of greenhouse gas emissions.
“In April 2023, we fulfilled the sustainability-linked loan 2022 Key Performance Indicator (KPI) by publicly committing to develop science-based targets aligning with the Science Based Targets initiative (SBTi) framework, which has received official approval,” he said. “As a next step, we plan to submit our GHG emissions reduction targets to SBTi for their validation.”
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