Gold Leaf Distribution, a subsidiary of Kona Gold Solutions Inc (OTCMKTS:KGKG), is expected to post revenues of $1.5 million in 2020 by distributing Storm, Hydrate, Kona Gold and products of other vendors. After the establishment in January 2019, the company reported a significant growth in Q4 2019. Gold Leaf conducts its business operations in South Carolina and Florida using three delivery trucks.
Established 300 accounts
Gold Leaf established 300 accounts that comprise smoke shops, specialty stores, C-Stores, restaurants, and Grocery stores. The company has generated average monthly revenues of $20,000 in November and December 2019. It is adding 30 to 40 accounts on a monthly basis. Gold Leaf expects to add two delivery trucks for beverage delivery. It expects to post significant revenues during summer and spring because of increased shipments of beverages.
Gold Leaf turns profitable in Q1 2020
Chief Executive Officer of Kona Gold, Robert Clark, said he is pleased to announce the growth of Gold Leaf in late 2019. It is on the backdrop of adding new products to the portfolio of Gold Leaf and the addition of new accounts in Q4 2019. He anticipates that Gold Leaf will become profitable in Q1 2020. The company has recently launched a website that lists its products and helps the customers to find a nearby store.
Kona Gold posts revenues of $1.42 million in Q1 to Q3, 2019
Kona Gold is pleased to post revenues of $1.42 million in Q1, Q2, and Q3, 2019, mainly on the backdrop of CBD and hemp products in the functional beverage sector. The company established relationships with more than sixty distributors across thirty-six states. It also expanded its operations to South Carolina. The company also expanded the HighDrate CBD Energy Water and Hemp Energy Drink to 15 SKUs from 9 SKUs. It has rolled out Storm CBD High Alkaline Water.
Kona Gold achieved revenues of up to $2 million in October 2019, meeting the forecasts of January 2019. It expects to post revenues of $6 to $8 million in 2020 because of a growing demand for the current products and through new launches. Clark said the company achieved phenomenal growth in 2019. The company expects to continue its growth through Q4 2019 and 2020.
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