Rubicon Organics Inc. (OTCMKTS: ROMJF) has offered an operational update for the three months ending October 31, 2021. The company increased market share on the pre-roll and flower category in Canada for the three months to 2.2%, with its Simply Bare Organic brand becoming the first flower and pre-roll brand in the Country.
Rubicon Organics gained 2.2% markets share in the flower and pre-roll category
CEO Jesse McConnell said, “We are quickly climbing the ranks in total market share across Canada and have established Simply Bare™ Organic as the leading premium flower and pre-roll brand. This reflects our steadfast commitment to product quality and the broader availability of a more accessible product portfolio with the launch of 1964 Supply Co. and Homestead Cannabis Supply™ in major provinces.”
For the period ended October 31, 2021, Rubicon’s total markets share in the pre-roll and flower category increases due to steady sales growth for Simply Bare Organic, 1964 Supply launch in Alberta, British Columbia, and Ontario, and Homestead Cannabis Supply launch in Alberta, BC, Saskatchewan, Yukon, Ontario, and Manitoba.
Rubicon Organics has over 60 SKUs across five brands
The company has made considerable advancements in its product portfolio debt. By the end of the three months, Rubicon Organics had more than 60 distinctive SKUs available in five brands, up from 19 at the start of the years. Following the establishment of a vast core product portfolio, the company can now optimize margins across pricing categories by leveraging the product mix of its brand portfolio. Notably, future innovation will now be under the wide brand portfolio umbrella, focusing on category expansion of high-quality genetic offerings and the launch of more high-margin cannabis 2.0 products.
Also, the company’s distribution channel expanded by 125%, and now customers can access Rubicon Organics products from more than 1,800 retail locations and more than 2,400 total retail stores in Canada. The significant increase for around 800 locations at the start of the year is proof of increasing consumer demand for the company’s branded goods.