- Children’s apparel brand, Peekaboo Beans (BEAN) has seen shares and sales skyrocket, after the launch of its first rebranded product
- The record-breaking response to the company’s rebranded Fall Collection has included a 900 per cent sales increase over Fall 2019
- PK Beans’ collection includes an expanded clothing range for children and babies, just in time for the back to school season
- The company is continuing to increase sales margins through new inventory, sustainable initiatives, local partnerships, and customer COVID-19 responses
- Peekaboo Beans (BEAN) is up 71.43 per cent and is currently trading at C$0.06 per share
Children’s apparel brand, Peekaboo Beans (BEAN) has seen shares and sales skyrocket, after the launch of its first rebranded product.
In August, the company successfully rebranded and launched its Fall Collection, to a record-breaking response.
This response included sales of approximately C$36,000, a 900 per cent increase in comparison to Fall 2019. Within the first two weeks of the launch, 25 per cent of PK Beans’ inventory had sold out.
The numbers demonstrate a strong positive reaction to the company’s rebranding of the collection, which features clothing for boys, girls, and babies. The apparel selection is age-appropriate, comfortable, fashion-forward, and is well-timed for the back to school season.
The rebranded launch for 2020 features an expanded size range from 0 to 3 months, all the way through to size 12. It also includes new gender-neutral styles of hoodies and denim.
The recent surge in sales can also be credited to PK Beans’ decision to pivot its business model. The company has been growing its online presence, and receiving substantial return on ad-spend (ROA).
PK Beans is continuing to increase its sales margins through a number of avenues, including new inventory. The company has also been growing its sustainable PK RePlay initiative and developing partnerships with local manufacturers of masks for children.
The impact of COVID-19 cannot be discounted, as the pandemic has pushed more customers online, and changed how parents are buying for their children.
Peekaboo Beans’ CEO, Traci Costa, said that the company strategically pivoted in order to grow multiple sales channels.
“We have the most loyal customers with our 50 per cent returning customer rate, and a significantly higher than industry average ROA.
“Combined with our strong mission of happy and healthy children, we are now poised to be an industry leader in bridging the gap of children’s fashion and their healthy growth and development,” she said.
Peekaboo Beans (BEAN) is up 71.43 per cent and is trading at C$0.06 per share at 10:41am EDT.