Vancouver, British Columbia--(Newsfile Corp. - October 13, 2021) - Peekaboo Beans Inc. (CSE: BEAN) (OTC Pink: PBBSF) ("PK Beans" or the "Company") is pleased to share consistent and strong growth in sales of PK Replay, the company's ESG minded business model.
Since launching this additional business model and revenue stream in the spring of 2020, PK Beans has seen 60% growth year over year for their sustainability initiative. The program consists of selling their own branded styles from previous seasons secondhand, as well as repurposed products such as doll clothing, pet toys, and eco-conscious art kits from unsellable clothing. The growth and success of this sustainability initiative is continuing to keep textile waste out of landfills (17 million tons reported by the Environmental Protection Agency in 2018), while making their product more accessible to a broader audience and customer base.
PK Beans is a first mover in this circular economy space in Canada, and with secondhand retail expected to continue to grow to reach $77B by 2025 1, PK Beans is looking forward to taking its piece of the market share. The Company is proud to be a leader in the children's secondhand clothing market; continuing to make high quality and durable children's apparel, contributing to a booming secondhand supply and market, while preserving and reducing the environmental impacts the apparel industry has on our planet.
"With the high quality and longevity of PK Beans clothing, being able to offer a resell service to our customers is a beneficial revenue stream, as well as having a positive impact on our environment," says CEO, Traci Costa. "It's a win-win situation; it's like seeing your purchase of our kids clothing, as a savings account for the future."
Sources
1. https://www.thredup.com/resale/size-and-impact
About Peekaboo Beans Inc.
PK Beans is an integrated and innovative children's wellness brand. From sustainable clothing options that kids love to wear, to healthy foods that fuel children's play, our mission is to provide the ingredients for a playful life. Together with our monthly adventure subscription box, consisting of interactive and engaging activities that educate and entertain, developed by an Emmy award-winning child psychologist and devoted kid-experts, our goal is to enrich, empower and nourish children through quality nutrition, clothing and play - every day. The company maximizes revenue by reaching sellers and online retailers through an omnichannel approach.
To learn more about PK Beans, visit: www.pkbeans.com
On behalf of the Board of Directors,
Peekaboo Beans Inc.
Ms. Traci Costa, President and CEO
(604) 279-2326
For more information, please contact the Company at:
IR@pkbeans.com
1-604-279-2326
Reader Advisory
This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99470
