Kona Gold Solutions Inc (OTCMKTS:KGKG) has reported a robust growth of 960% in 2019 when compared to 2018. It has posted revenues of $1.631 million hitting the set target of between $1.5 million and $2 million.
Kona Gold has inaugurated 30,000 Sq. Ft. Distribution Center in South Carolina. The company also entered into distribution accords with more than sixty distributors in thirty-six states. It has introduced innovative products and extended existing brands. Kona Gold hemp energy drinks accounted for 70% of the revenues in 2019. HighDrate CBD Energy Waters and StormCBD Waters accounted for the revenues of 21% and 2% respectively. Apparel and shipping revenues contributed 7% to the overall revenues in 2019.
Key hires and innovative products contribute to the growth
Chief Executive Officer of Kona Gold, Robert Clark said the company is pleased to bring to the notice of its shareholders about its phenomenal growth of 960% in 2019. It has successfully met the revenue projections set for 2019. Few companies report this type of record growth. One of the key contributors to this exponential growth includes key hires in 2019 and the unveiling of innovative products that suit the needs of customers. It has become a leading player in CBD functional beverages and hemp space. The company expects to continue the same growth trend in 2020.
The US economy and the global economy are experiencing turbulent times because of coronavirus spread across the world. However, Kona Gold along with its subsidiaries is fully operational. Kona Gold expects to achieve tremendous growth in 2020 too and yearns to become a national brand.
Signs an LOI to takeover Flo Beverages, LLC
Kona Gold has signed a letter of intent to take over Flo Beverages, LLC, which is situated in Longwood, Florida. The company expected to close the deal in 30 days. Established in 2015, Flo Beverages made an entry into the market with SoFlo organic energy drinks. It has grown quickly and conducts business out of 3,000 Sq. Ft. Long Wood, Florida.
Unveils organic Ketogenic Energy Drink
Kona Gold has unveiled an organic Ketogenic Energy Drink – LiKuid in three flavors. The company distributes innovative organic energy drink in Puerto Rico and Florida.