Highlighted by Over $1M in Sales on Black Friday
Earning a
Healthy EBITDA of Approximately 15%
VANCOUVER, BC, Dec. 3, 2024
/CNW/ - Kits Eyecare Ltd. (TSX: KITS) ("KITS" or the "Company"),
the leading vertically integrated eyecare provider, is excited to
announce record-breaking results from the Company's Black Friday
event.
Highlights from the Company's Black Friday week include:
- Total sales of $4.3 million, 56%
year-over-year increase from prior Black Friday week
- Black Friday sales exceed $1.02M,
showing approximately 15% EBITDA
- Over 11,500 glasses units ordered, a weekly record
- Repeat customers contributed 65% of total revenue
"It's always a highlight to achieve the first day exceeding
$1 million in sales, and I'm thrilled
to announce that Black Friday, as well as the Black Friday week
were record-breaking events for KITS," said Roger Hardy, Co-Founder and CEO of KITS. "Our
eyeglasses segment continues to see exceptional growth, driven by
the strength of our proprietary collections and the trust of our
repeat customers. These results reflect the investments we've made
in our vertically integrated manufacturing and logistics systems,
which have enabled us to deliver an unmatched combination of
quality, value, and convenience. We look forward to continuing this
momentum through the holiday season and beyond."
At the end of November, KITS achieved new milestones across its
business, including surpassing $15
million in monthly revenue.
About KITS
KITS makes eyecare easy. KITS is a leading vertically integrated
digital eyecare brand providing eyewear for eyes everywhere. We
offer customers access to a vast selection of contact lenses and
eyeglasses, including our own exclusive KITS designed products, as
well as a robust suite of online vision tools. Our efficient
digital platform, backed by our industry-leading manufacturing and
designs, removes intermediaries, and enables us to offer great
prices and deliver made to order personalized products with
incredible care and accuracy. We are creating disruption in the
industry by constantly pursuing cutting-edge technologies to enable
the best customer experience, including online eyewear fitting
tools, and virtual try-on for glasses. We strive to delight our
customers with our competitive prices, a convenient digital
shopping experience, fast and reliable delivery options, and an
unrelenting focus on earning our customers' lifelong trust. For
more information on KITS, visit: www.kits.com.
Forward-Looking Statements
This press release contains forward-looking statements,
including statements relating to the execution of our proposed
strategy, our operating performance and prospects for the business.
These forward-looking statements generally can be identified by the
use of words such as "intend," "believe," "could," "continue,"
"expect," "estimate," "forecast," "may," "potential," "project,"
"plan," "would," "will," and other words of similar meaning. Each
forward-looking statement contained in this press release is
subject to risks and uncertainties that could cause actual results
to differ materially from those expressed or implied by such a
statement. Our business is subject to substantial risks and
uncertainties. This forward-looking information and other
forward-looking information are based on our opinions, estimates
and assumptions in light of our experience and perception of
historical trends, current conditions and expected future
developments, as well as other factors that we currently believe
are appropriate and reasonable in the circumstances. Despite a
careful process to prepare and review the forward-looking
information, there can be no assurance that the underlying
opinions, estimates and assumptions will prove to be correct.
Certain assumptions in respect of the expansion and enhancement of
our optical laboratory for glasses and warehouse facilities; the
growth of our business and launch of new technologies; our ability
to drive sales growth; our ability to maintain, enhance, and grow
within our addressable market; our ability to drive ongoing
development and innovation of our exclusive brands and product
categories; our ability to continue directly sourcing from third
party suppliers and manufacturers; our ability to retain key
personnel; our ability to add, maintain and expand production,
distribution and fulfillment capabilities; our ability to continue
investing in infrastructure to support our growth; our ability to
obtain and maintain existing financing on acceptable terms;
currency exchange and interest rates; the impact of competition;
the changes and trends in our industry or the global economy; and
the changes in laws, rules, regulations, and global standards are
material factors made in preparing forward-looking information and
management's expectations. KITS' risks and uncertainties are
discussed in detail in the company's Annual Information Form, filed
on SEDAR on March 6, 2024. Investors,
potential investors, and others should give careful consideration
to these risks and uncertainties. We caution investors not to rely
on the forward-looking statements contained in this press release
when making an investment decision in our securities. The
forward-looking statements in this press release speak only as of
the date of this release, and we undertake no obligation to update
or revise any of these statements, except as required under
applicable securities laws. If we do update certain
forward-looking information, no inference should be made that we
will further update such or other forward-looking information.
SOURCE KITS Eyecare Ltd.
