PlantX Life Inc. (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) aims to redefine the plant-based community through e-commerce, with a core objective of becoming the most trusted and convenient destination for people living plant-based lives. PlantX is a multifaceted marketplace providing consumers all things plant-based ranging from an efficient e-commerce experience, connecting consumers with interactive PlantX brick-and-mortar stores, and a PlantX home delivery system for products, meals, recipes and more.
PlantX is a high-growth technology company focusing on consumer-packaged goods (“CPG”) for the plant-based opportunity. The PlantX platform aims to serve as the digital face of this community with its one-stop-shop for everything plant-based, including:
- An easy-to-use e-commerce shopping experience featuring the following:
- Plant-based grocery items (from all your pantry needs to vitamins, cosmetics and even pet food)
- Meal delivery with recipes created by well-known plant-based chefs throughout the world
- Plant shop – delivering a wide variety of affordable indoor houseplants to homes across Canada and the U.S.
- Easy to follow plant-based recipes every week
- Partnerships with restaurants, nutritionists, chefs and brands
- A community of like-minded individuals
- State-of-the-art flagship PlantX locations
Since first launching in February 2020, PlantX Life has offered various services available through its comprehensive platform. This online marketplace features over 5,000 items across diverse product categories such as pantry items, beverages, personal care, pet food and indoor plants. In addition, PlantX has collaborated with renowned chefs and nutritionists to create 20 unique and pre-made meals delivered to the comfort of your own home.
Headquartered in Vancouver, Canada, PlantX’s mission is to spearhead the plant-based movement, celebrate and promote health and wellbeing, raise plant-based awareness in a hyper-palatable world, connect with global consumers and forge a welcoming plant-based community.
The company currently reports 4 million stock options and 24 million warrants outstanding, with a total of 88,832,159 shares issued and outstanding and a total market cap of $89.9 million on January 18, 2021. PlantX has continued to catalyze its capital markets dynamics by applying to list its common shares on the Nasdaq Capital Market (“NASDAQ”). The company’s common shares are eligible for electronic clearing and settlement through The Depository Trust Company (“DTC”) in the United States.
With its comprehensive e-commerce platform, PlantX is strongly positioned for a prominent role in the fast-growing plant-based food market, e-commerce and the online food delivery sectors. The global plant-based food market is expected to reach $74.2 billion by 2027, expanding at a CAGR of 11.9%. Similarly, the online food delivery market has steadily grown, especially during the current pandemic. This trend seems here to stay. In the United States alone, the sector is expected to report $28.5 billion by 2024, with companies such as UberEats experiencing 152% increases in food deliveries in the summer of 2020.
Complementary to these trends, and as a result of the COVID-19 pandemic, online sales and digitization have also both grown exponentially in 2020. Grocery shopping has seen a remarkable transition to e-commerce, with online grocery sales growing by 53% in 2020. Amid the pandemic-imposed physical interactions and related consumer behavior change, large retailers have been compelled to meet this surge in e-commerce demand. For example, Whole Foods Markets has increased its online sales capacity by over 60% in 2020. The global meal kit delivery system is also becoming increasingly popular and is expected to achieve a market value of $19.92 billion by 2027, expanding at a CAGR of 12.8%.
PlantX aims to capitalize on this anticipated exponential market growth of the plant-based, e-commerce and home-delivery industries.
Digital Platform for the Plant-Based Community
The digital interface provided by PlantX spans a health and wellness initiative that offers thousands of plant-based products, meal delivery, indoor plants, recipes and a community space for those who are like-minded about plant-based products and healthy lifestyles. PlantX has been compared to Amazon, except with a focused tailored selection of plant-based offerings.
PlantX provides everything a consumer needs for plant-based living at the click of a button. With PlantX, customers can:
- Find recipes
- Read blogs
- Join a community forum
- Listen to podcasts
- View cosmetics
- Research vitamins
- Purchase plant-based pet foods
- Read corporate updates
- Subscribe to an insightful newsletter
The company’s website was designed with a user-friendly interface that allows customers to visit the site and easily find what they need. Forums for communicating with a plant-based community make it easier to swap recipes or locate the best restaurants serving vegan and vegetarian-friendly cuisine.
PlantX Flagship Locations – British Columbia (Canada), San Diego (California), & the State of Israel
PlantX will link the e-commerce platform to flagship brick-and-mortar stores for a highly sensory customer experience. This is anticipated to drive corporate growth and global brand recognition.
These PlantX branded flagship locations will first launch in:
Customer engagement, education and creating a global plant-based community will be furthered through this initiative.
PlantX Restaurant Partnerships
With consumers becoming better informed and more health and environmentally conscious, a growing number of restaurants will start catering to the needs of customers who are vegan, vegetarian, have food-allergies (or specialized diets), or simply want to eat healthier.
PlantX proactively aims to support this change and help restaurants meet the needs of the plant-based community. Restaurants that want to increase revenue, drive traffic and make an impact can therefore partner with PlantX to better serve their customers by expanding and refining their menus.
Future Goals for PlantX Life
Having successfully completed all of the milestones that PlantX had set-out to achieve in the second half of 2020, PlantX strives to continue scaling through organic growth, strategic partnerships and accretive M&A opportunities. The upcoming plans from PlantX includes a global expansion strategy for distribution in North America, Europe and Israel.
Verticals launched in 2020 include:
- New meals and programs by renowned chefs
- Flagship PlantX locations
- PlantX branded goods
- United States meal delivery and LIV
- Online peer-to-peer fitness
Sean Dollinger, the Founder of PlantX Life Inc., has had a very active professional career that started when he was only 17. While still in college, he started a delivery service that soon became one of Canada’s largest delivery firms (before companies like Postmates and Uber Eats ever existed). In 2014, Mr. Dollinger founded Namaste Technologies, the largest international e-commerce distributor of vaporizers and accessories. He brought Namaste public and turned it into a $1.2 billion business in two years. After finding a plant-based diet himself, and seeing the massive benefits that it provided for him, he decided he wanted to find a way to give back to the community and focus on something he loves. PlantX Life was born from this desire and became his passion project. He truly walks the talk.
Lorne Rapkin, CPA, CA, LPA, is the President and CEO of PlantX Life and is also a partner at Rapkin Wein LLP. He has experience with clients in almost every industry, including finance, professional services, real estate, automotive, media and manufacturing. Mr. Rapkin works very closely with investment and public firms, seeking to comply with IFRS accounting standards. His roles often require him to work with management on go-public transactions, acquisitions and mergers. His keen attention to detail is an asset to any client he works with, and PlantX is no exception.
Julia Frank is the COO of PlantX Life. She has an MBA in digital entrepreneurship, and, in her past roles, she set up renowned strategies for large corporations like BMW and Daimler in Germany. Beyond her professional business prowess, Ms. Frank finds tremendous joy in preparing delicious and nutritious plant-based meals and is the face of the company. She practices a healthy and active lifestyle that includes experiencing as many cultures as possible to add more knowledge of the industry at large. This globally inclusive perspective gives her the unique advantage of being able to see plant-based living from all angles.
Alex Hoffman is the company’s CMO and has spent the last 10 years in the creative field cultivating her passion for design and appreciation for beauty. This is apparent in all of the creative decisions and outcomes seen at PlantX. Her role within the company is to oversee all of the brand marketing activities, establish and execute key processes for rapid growth, and work closely with management to refine the brand’s message for key segments and emerging opportunities. She has a sharp vision for exactly what’s needed to convey the company’s core messages and principles to both the public and investors, and she is a visionary with respect to creative marketing ideas and concepts.
- First-Mover Advantage: PlantX maintains a first-mover advantage as the first (known) public company fully focused on the plant-based e-commerce space.
- Strong Execution: PlantX has strong business fundamentals. The company is well-capitalized with cash on the balance sheet, no debt, low CapEx requirements and diverse revenue streams.
- Discounted to Peers: For the month of December 2020, PlantX achieved a gross revenue of $1,029,883. PlantX is strongly positioned against public plant-based peers, who are trading at much higher revenue multiples.
- High-Growth Sectors: PlantX’s operates in three high-growth industries – the plant-based, e-commerce/technology and consumer-packaged goods sectors. PlantX plans to fill the void in the marketplace by bridging the gap between these investment opportunities.
- Organic Growth & Strategic M&A: The company plans to grow organically through new partnerships, global brick-and-mortar locations and additional product verticals, as well as through a pipeline of accretive M&A opportunities.
- Global Positioning: The move for PlantX is global, and the intent to list on Nasdaq evidences PlantX’s commitment to investor accessibility and corporate growth.