Sunday, October 08, 2017 6:43:18 PM
This article is just a quick update on some interesting information I stumbled upon.
Well long story short about 3 months ago when I was interning in Manhattan, I walked into a store and I noticed this yellow can on the shelf of the deli i walked into. For some reason I felt that can was familiar, I then realized that I had read about Jones Soda launching their new product Lemoncocco, when I had read their 2016 and 2015 financials a few quarters ago.
I immediately started walking all around Midtown and lower Manhattan checking into deli's to see who is carrying the product and interviewing the cashier's to see how well the product was selling. Apparently most people had only got the drink for about 2 weeks to maximum of 3 months prior to me discovering it in New York City. Of the 15 or so delis and food establishments that I walked into, between 50th and 30th Street around 6th Avenue, six or seven were carrying the drink. However at this time the drink was still not carried at the Whole Foods on 6th Avenue and 42rd Street. By the end of my internship (mid august) I noticed that the Whole Foods on 42rd Street started carrying Lemoncocco.
link for photo : https://docs.google.com/document/d/e/2PACX-1vTpYk9huXsQBFsLZHmgN7jcS58Uhwfl1gw0SkDKdzdN64XV9jbsTPMvmb9gBTfZMDmV3A4mPAd8UY0j/pub
Im originally from New Jersey and last week I return to New Jersey to vistet my family. During my trip I found Lemoncocco on sale at Closter New Jersey location of Whole Foods(shown above). I interviewed the store manager, told them I was a shareholder, and ask them how the product was selling. They told me that the product was selling pretty well and that it's only been in the store for less than a week. Then I went to an Asian supermarket in the nearby town (WooriMart Korean supermarket in Northvale NJ) and and noticed the drink was on sale there too. I interviewed the purchasing manager at that location and he told me that the drink was new and being distributed by New York Fancy Food Distributors. I called New York Fancy Food Distributors and ask them how the product was selling, they said pretty well. I asked them on a scale of 1 to 10 they said 7 or 8, 10 being the highest. I found another distributor in Brooklyn, who also confirmed the same information. They said that the drink was selling relatively well, the representative told me it was a 8 out of 10 when I asked her how well it was selling. Unfortunately I do not remember the name of that Brooklyn distributor, but I'm sure it's the one that's making cluster deliveries in Midtown Manhattan.
Given that the company has been promising to turn around and communicating to shareholder that distribution of Lemoncocco in the Northeast is one of their major initiatives, my intuition is telling me that management does not want to make release explaining that they got distribution throughout the Northeast. Even though distribution with such a large entity like Whole Foods would definitely be a significant event(8K). Maybe they want to surprise the market with action and achievement, instead of continually promising good things coming to fruition in the future.
As of 10/6/2017 there has been no mention of the success in getting Lemoncocco distribution in the Northeast and Wholefoods, by either the company or any other news source.
Long story short I literally stumbled upon this information.
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