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LocoSoco Group #LOCO – Trading Update and Warehouse Facility
LocoSoco Group Plc, the Wiener Borse DM traded company that builds technology to profit from creating sustainable communities, is pleased to provide a trading update.
Highlights:
- GBP150,000 revenue in March 2020 from sales of hand sanitiser and refill stations.
- LocoSoco has temporarily secured a warehouse in Essex, sited adjacent to the M25. The warehouse premises has a 4,000 square metre capacity, and has already been adapted by LocoSoco as a click and collect distribution pointfor retailers and regional distributors. Subject to negotiation, it is the company’s intention to secure this warehouse, or a similar premises a permanent distribution / collection hub for LocoSoco.
- With 250 outlets across the UK, LocoSoco continue to develop relationships and expand existing networks with a range of leading local brands.
- LocoSoco shares for shelfspace offering is rapidly gaining in popularity, i.e. shelfspace in exchange for with equity in stores across the country (10cm here, 10cm over there, a hook to display here, a screen to promote there etc). We anticipate up to 10km of shelfspace will be sold this year.
- Accelerated rollout of local community ‘enablers’, i.e. MyEco.Site, Eco Refill stations and MyDistro.Co
The surge in activity and volume has created an urgent need for a new distribution hub and warehouse. As such we have temporarily secured a warehouse in Essex, sited adjacent to the M25. The warehouse premises has a 4,000 square metre capacity, and has already been adapted by LocoSoco as a click and collect distribution point for retailers and regional distributors. We also intend to offer storage for supplies for/ from businesses that are unable to trade through the COVID-19 pandemic. Subject to negotiation, it is the company’s intention to secure this warehouse, or a similar premises a permanent distribution / collection hub for LocoSoco.
The LocoSoco shares for shelfspace concept has also become very popular with our retailer network. Quite simply, we gain shelfspace in exchange for LocoSoco equity in stores across the country (10cm here, 10cm over there, a hook to display here, a screen to promote there etc). We anticipate up to 10km of shelfspace will be sold this year, and this in turn creates a unique opportunity to bring challenger brands to market.
LocoSoco CEO James Perry commented: “This unprecedented surge in activity and volume has resulted in our team working around the clock to distribute supplies to 250+ outlets across the UK. Our sales have grown rapidly as a result of this, with GBP150,000 of sales in March alone. I would like to put on record my heartfelt thanks to our people who have worked night and day to make this happen.
We have worked to ensure our team comply with safe working practice, including social distancing and self isolation. Thankfully, no LocoSoco employees have tested positive for the COVID-19 virus.
I look forward to updating you on further progress in the coming weeks and months. Don’t forget to check in to the LocoSoco website (www.locoso.co) for the latest news and developments.
Please stay safe in the current pandemic crisis!”
Ends.
Enquiries:
LocoSoco Group PLC
James Perry, Chief Executive Officer
Simon Rendell, Non-Executive Chairman
+44 (0)203 538 0716
Novus Communications Ltd
Alan Green / Jacqueline Briscoe
+44 (0)7976 431608 / +44 (0)207 448 9839
Keswick Global AG – Capital Market Coach
Tim Curle, Klaus Schwerdtfeger
info@keswickglobal.com / +43 (1)740 408045
About LocoSoco Group Plc
LocoSoco builds technology to profit from creating sustainable communities. We work with community partners to turn community assets into eco-enterprises enabling them to generate additional revenues whilst going green.
Community partners have the opportunity to engage with their local community on sustainability, whilst also earning additional revenue for themselves, their businesses and causes.
LocoSoco Group Plc listed on the Austrian Wiener Borse Direkt Market in February 2019.
LocoSoco Group #LOCO – Trading Statement
LocoSoco Group Plc, the Wiener Borse traded company that builds technology to profit from creating sustainable communities, is pleased to announce a trading update for February 2020.
As indicated in post year end highlights in our full year results statement published on December 4th 2019, the last quarter of the year and decade delivered significant growth in partnerships across the independent retail sector, the backbone of LocoSoco’s vision to enable sustainable communities.
Over 150 shops were onboarded across the UK from Penzance to Aberdeen between October 2019 and January 2020. Added to this, more than 10 new advisors, among whom are some of the most successful and reputable leaders in the industry, have joined the team including:
- Kay Patel – Global Food & Wine (Best One) Multi-award winning retailer with a group of stores in East London, Member of the National Federation of Retailers Newsagent (NFRN) and Association of Convenience Stores (ACS).
- Avtar Sidhu – Budgens, St Johns Wood, Ex IT Company owner turned multi-award winning retail store owner and Board Member of the Association of Convenience Stores(ACS).
- Raj Aggarwal – Spar – Multi-awarding winning retailer with multiple outlets in the Midlands and Board Director of the Association of Convenience Stores (ACS) and Spar Meridian and Welsh Guild Board Member
The recently-launched MyEco.Site is already proving very popular with retailers as an online extension to their store fronts, giving them a new unique proposition to promote and sell over 300 eco-products to their respective communities.
LocoSoco Eco-Refill stations are now situated in over 50 shops and charity shops, along with a number of schools and places of worship. And Wandsworth Oasis has just set up a pilot scheme with MyEco.Site.
LocoSoco have also confirmed a stand at the biggest retail event of the year at the NEC in Birmingham (National Convenience Show). Founder and CEO James Perry will be taking part on a panel discussion on Sustainability in Retail on the 1st April. (email locosoco@locoso.co for complimentary tickets).
LocoSoco have also recruited a Community Psychologist, Luca Comazzi as Community Engagement Officer to build relationships, and articulate shared revenue and equity opportunities with communities across the country.
CEO James Perry commented: “The surge in community partners and advisors joining our team is no coincidence; the LocoSoco offering is seen as a potential cornerstone for sustainable commerce as we head into a new decade.
Industry backing for our offering continues to grow, as our company now offers the Holy Grail for brands by reaching independent retailers through our network.
LocoSoco Eco-Refill stations and MyEco.Sites will continue to incentivise our network of award winning retailers, and at the same time help challenger brands expand market share.
As trading patterns emerge from Eco-Refill and MyEco.Site outlets, we will be providing detailed financials and ARPU data in future updates.
During Q1 2020, we are targeting more than 500 outlets to become part of the LocoSoco network, and as we expand our team we aim to reach 4,000 by the year end. I look forward to updating you on further progress.”
Ends.
Enquiries:
LocoSoco Group PLC
James Perry, Chief Executive Officer
Simon Rendell, Non-Executive Chairman
+44 (0)203 538 0716
Novus Communications Ltd
Alan Green / Jacqueline Briscoe
+44 (0)7976 431608 / +44 (0)207 448 9839
Keswick Global AG – Capital Market Coach
Tim Curle, Klaus Schwerdtfeger
info@keswickglobal.com / +43 (1)740 408045
About LocoSoco Group Plc
LocoSoco builds technology to profit from creating sustainable communities. We work with community partners to turn community assets into eco-enterprises enabling them to generate additional revenues whilst going green.
Community partners have the opportunity to engage with their local community on sustainability, whilst also earning additional revenue for themselves, their businesses and causes.
LocoSoco Group Plc listed on the Austrian Wiener Borse Direkt Market in February 2019.
Convenience Store – LocoSoco value refill solution designed to help stores join eco revolution
Convenience retailers keen to join the “refill revolution” are being offered a new route in, with the help of new social enterprise LocoSoco which offers a wide range of refillable household products at value price points.
The solution, launched in partnership with Delphis Eco, allows shoppers to buy a range of concentrated ecological cleaning “shots” for £1 and offers convenience retailers a profit on return of 75%.
Just over 30 stores are already stocking the new refill offer, but the company expects this figure to soar in 2020 following the official launch of a new online platform MyEco.Site which will allow retailers to extend their offering with over 300 eco-friendly “challenger brands”.
LocoSoco chief executive and founder James Perry told C-Store: “Convenience retailers are the heart of their communities and can lead real environmental change but we understand that there also needs to be an incentive to do so, especially in the current climate where they may be a bit more reluctant to take risks.
“Our Eco Refill stations do more than just save plastic, they also offer retailers 75% profit on return and save shoppers money on quality eco-friendly products too.”
Sid Sidhu, owner of St John’s Budgens in Kenilworth, has just started stocking three products from the range of refillable cleaning products, which he said was already “causing a stir among local shoppers”.
The refill shots, which cost retailers 12p, are sold for an rrp of £1.00 and the range is fully branded and supported with eye-catching point of sale.
“I think that with the right advice, support and products, refillable goods could be really really big for the convenience industry, but support will be key to that if its ever to become anything other than a limited offering. This new system is certainly going the right way about changing the game though,” he said.
Just over 50 stores are also in the pipeline for the new online platform which will offer each retailer a free personalised web page where shoppers can order from a large and growing range of eco-friendly, ethical products from other quality “challenger brands.”
Orders placed via the website will be delivered to stores on pre-set dates for customers to collect. The company is also offering retailers help with their social media presence.
“The growth of high street chains, online shopping and economic uncertainty have created a perfect storm of challenges,” Perry added.
“Our popular eco products with strong margins could go some way towards making a difference. Throw in a free online shop for your store and we are starting to level the playing field,” he added.
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