Plus Products raised the money through proceeds from its Rainbow Sorbet gummies, a limited-time offering sold each year around Pride Month.
One dollar from each of the 60,937 units sold was committed towards the SF LGBT Center as part of its “commitment to strengthening and supporting communities in which it operates and sells products.”
“This limited edition and the accompanying donation is just a small way for PLUS to show support for the LGBTQ+ community,” said Jake Heimark, co-founder and CEO of Plus Products. “Our company was honored to have the opportunity to work with the SF LGBT Center this year. We care deeply about being a truly engaged partner and look forward to finding more opportunities to work together in the future.”
Plus says this product is its “best-selling seasonal flavor,” and that it sold more of its Rainbow Sorbet gummies this year than at any other time.
PLUS Products seem to be successful with their new marketing of dosable cannabis-infused edibles. I like that they are charitable giving. $plus @plusgummies Will these be available in Canada in December? https://t.co/12OkkugHtD
— Mirelle (@MirelleLevesque) August 8, 2019
“This generous donation demonstrates PLUS’s investment in the LGBTQ+ community as well as the overwhelming enthusiasm of fellow Californians to work with us to create a more welcoming, equitable world.”
– Dani Siragusa, SF LGBT Center’s director of development
Plus begins California marketing campaign
Apart from generating some goodwill by donating to the SF LGBT Center, the company’s California-wide advertising campaign is well underway.
Billboards and other out-of-home media, including advertisements on subways and bus stops, have been strategically placed across San Francisco, Los Angeles and San Diego.
The advertisements seek to illustrate the three distinct “moods” Plus Products’ new system of edible gummies caters to: Balance, Uplift and Unwind.
In our last article on Plus, Lukas Kane wrote, during Q4 2018, the company had three of the best-selling branded cannabis products in all categories including flower, vaporizers and edibles.
“Cannabis can be confusing to new consumers, and we hope that the clarity of our system will bring customers into the category. There are many people who have been interested in trying cannabis, but feel lost when confronted by traditional industry terminology. Our hope is that this campaign will speak to those individuals.”
Plus contracted acclaimed photographer and artist Jill Greenberg to develop the marketing materials for their latest California campaign.
Greenberg has worked on campaigns for products such as Head & Shoulders, Lay’s chips and what seems to be every major movie in the past decade.
While that’s all well and good, Plus is also up 26% since July 2, 2019. The company has increased its cash assets from $22M in Q4 2018 to $35.5M as of the end of Q1 2019.
Liabilities are up from $2M to nearly $15M over the same period, but revenue has more than tripled, increasing from $860K to $3.25M.
And the company still has a great quick ratio, is doing all the right things on the public relations/marketing side and is growing revenues. Victory tastes sweet.
Full disclosure: Plus Products is an equity.guru marketing client.Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.