PK Beans' ESG Minded Focus Supported by Strong Growth in Sales for Sustainability Initiative
Vancouver, British Columbia--(Newsfile Corp. - March 11, 2021) - Peekaboo Beans Inc. (CSE: BEAN) (OTC Pink: PBBSF) ("PK Beans" or the "Company") a responsible and innovative children's apparel brand is pleased to announce an update on its sustainability initiative, PK Replay which launched in 2020.
The Company's sustainable initiative continues to meet positive reception supported by steady growth in demand since launching selling over 2098 pre-loved pieces to date, resulting in $31,308 of revenue, and proof of concept. Second-hand PK Beans styles currently provide a 56% margin and repurposed items boast an 86% gross margin for the Company. With the high quality and longevity of PK Beans clothing, being able to offer good quality second-hand and re-purposed products is a beneficial revenue stream for customers, as well as having a positive impact on our environment. Research trends expect the second-hand market to reach $64B in the next 5 years. This continues to be an economic and environmentally exciting opportunity for the brand.
"We are proud of the high-quality clothing we create and believe that the life of each of our garments should last beyond just one child," says CEO, Traci Costa. "We have dedicated ourselves to creating this environmental initiative as part of our ESG minded business practices, lessening consumption and keeping textiles out of landfills."
About Peekaboo Beans Inc.
PK Beans is an innovative children's apparel brand with a focus on environmentally responsible clothes that are intentionally designed to inspire play. Through an omni-channel approach, Peekaboo Beans engages sellers through social platforms, including Instagram and Facebook, as well as online retailers, to maximize revenue and build brand loyalty. The Company works to promote a playful lifestyle for children by designing comfortable clothes that are built to last.
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
For more information, please contact the Company at:
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.
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