08.14.24
Starco Brands has provided a business update and released its second quarter 20224 results.
Reported net revenue for the second quarter of 2024 was $15.6 million, compared to $17.5 million in the second quarter of 2023. The decrease in reported net revenue was driven by a decrease in sales for Whipshots due to large Q4 2023 and Q1 2024 inventory purchases, partially offset by an increase in sales for Skylar and Winona Popcorn Spray
Starco Brands Chairman & CEO Ross Sklar said,
“The first half of this year has been about integrating our acquisitions and finding efficiencies across the board while building out our shared service platform, positioning our company for long-term success. We’ve also made significant strides in strategically investing in our businesses, optimizing our marketing spend, and significantly expanding our distribution footprint. We have extended national distribution for every single one of our brands and have simultaneously broadened our product portfolios through line extensions and entry into adjacent categories. These initiatives leverage our core strengths: cross-category R&D capabilities and IP creation, manufacturing, innovative marketing, and diversified retail and ecommerce knowledge. As we enter the peak seasonal period for several of our brands, we believe all this investment and groundwork is slated to drive top-line growth in the second half of this year and, more importantly, sets the stage for substantial and sustained growth in 2025 and 2026. Our team’s dedication and strategic focus have positioned this machine to capitalize on the opportunities created and deliver long-term value to our shareholders.”
The Skylar brand saw a strong performance in Q2.
In Q2, the brand hired Alex Alston as Vice President of Sales and Marketing, who joined the company from L’Oréal.
In June 2024, Skylar launched a new summer fragrance, Citrus Reverie, marking the start of the brand’s “Endless Summer” campaign. The brand also rolled out the Hair & Body Mist format of its popular Boardwalk Delight in July 2024.
Skylar expanded its presence by distributing in Anthropologie and Costco. The brand also began selling in Sephora at Kohl’s.
Reported net revenue for the second quarter of 2024 was $15.6 million, compared to $17.5 million in the second quarter of 2023. The decrease in reported net revenue was driven by a decrease in sales for Whipshots due to large Q4 2023 and Q1 2024 inventory purchases, partially offset by an increase in sales for Skylar and Winona Popcorn Spray
Starco Brands Chairman & CEO Ross Sklar said,
“The first half of this year has been about integrating our acquisitions and finding efficiencies across the board while building out our shared service platform, positioning our company for long-term success. We’ve also made significant strides in strategically investing in our businesses, optimizing our marketing spend, and significantly expanding our distribution footprint. We have extended national distribution for every single one of our brands and have simultaneously broadened our product portfolios through line extensions and entry into adjacent categories. These initiatives leverage our core strengths: cross-category R&D capabilities and IP creation, manufacturing, innovative marketing, and diversified retail and ecommerce knowledge. As we enter the peak seasonal period for several of our brands, we believe all this investment and groundwork is slated to drive top-line growth in the second half of this year and, more importantly, sets the stage for substantial and sustained growth in 2025 and 2026. Our team’s dedication and strategic focus have positioned this machine to capitalize on the opportunities created and deliver long-term value to our shareholders.”
The Skylar brand saw a strong performance in Q2.
In Q2, the brand hired Alex Alston as Vice President of Sales and Marketing, who joined the company from L’Oréal.
In June 2024, Skylar launched a new summer fragrance, Citrus Reverie, marking the start of the brand’s “Endless Summer” campaign. The brand also rolled out the Hair & Body Mist format of its popular Boardwalk Delight in July 2024.
Skylar expanded its presence by distributing in Anthropologie and Costco. The brand also began selling in Sephora at Kohl’s.
