Packaging
Innovative Beverage Group Reports 296% Increase in Q3 Revenues as Sales of drank Continue to Rise in Slowed Economy
Thursday 11. December 2008 - Innovative Beverage Group Holdings, Inc. (OTC.PK: IBGH) announced record revenues of $781,593 for Q3 2008, a 296% increase in sales compared to $197,364 for period Q3 of 2007. In addition to being the largest quarter ever for the new-age beverage manufacturer, Innovative Beverage Group reported that it has also been profitable for the last two quarters with year-to-date sales of $1,482,872.
Sales for Q3 2008 were up 57% from the previous Q2 2008 period, which were reported at $496,714. The current uptrend in sales is expected to continue in Q4 as well. The Company is enjoying this rapid growth in sales as a result of the popularity of its proprietary beverage, drank(TM).
drank(TM), a lightly carbonated grape-flavored beverage, is a unique addition to the New Age beverage category that is designed to have an extreme calming effect to relax the mind, body and soul. drank(TM) combines the natural calming effects of melatonin, valerian root and rose hips, and has quickly captured the attention of the public as the new go-to beverage for people looking to relax without resorting to medication, sleep aids or alcohol. The product is sold in prominent purple 16 ounce cans bearing the popular slogan, “Slow Your Roll”.
“We are definitely bucking current economic trends as sales of drank(TM) continue to expand. We have acquired many new accounts and the sell-through at our established accounts continues to rise,” said Peter Bianchi, CEO of Innovative Beverage Group. “Times are stressful and our product offers consumers a new, unique and healthy way to relax, which has enabled us to grow our customer base while the sales of other retail products have suffered. “
drank(TM) is currently sold in several major markets, including Metropolitan areas of New York, N.Y.; Houston, Dallas-Ft. Worth, Waco, Livingston and Austin, TX; Baton Rouge, Lafayette, and Shreveport, LA; Las Vegas, NV; Memphis, Jackson, Murfreesboro, Franklin, Columbia, and Clarksville TN; Jackson, MS; and St. Louis, MO.