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Rritual Superfoods signs distribution deal with largest drugstore chain in US

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Rritual Superfoods (CSE:RSF / FSE:0RW), the maker of mushroom-based health products for the fitness and lifestyle markets, has confirmed that it now has a distribution agreement in place with CVS. CVS is the largest drugstore chain in the US.

The deal is being hailed as a major milestone for the maker of adaptogens. It is an important component in the company’s national retail roll out.

Rritual is poised to dominate a segment where demand and sales are growing exponentially. According to Grandview Research, it is estimated that the global functional food market is projected to reach $275 billion by 2025, growing at 7.9% each year with consumers putting more emphasis on health and wellness.

“In terms of the Rritual brand, placement with CVS further establishes confidence in our products and escalating demand for this category with consumers,” said David Kerbel, Rritual Superfoods CEO. “Rritual’s placement in CVS is doubly significant because our products have been chosen for CVS’s new HealthHUB concept, which aims to transform the ‘consumer health experience’ with education and personalized service from CVS trained professionals at the community level.”

Rritual confirmed that CVS will be carrying the full range of the company’s product lines, targeted at healthy immune system function, brain health and stress management.

Who is CVS exactly?

In 2020, CVS opened 650 HealthHUB locations, and it plans to have 1,500 locations open by the end of 2021. CVS HealthHUB locations offer online streams of wellness and nutrition content from its community rooms in place of in-person classes, and care concierges pivoted to focus on reaching out to patients telephonically.

Rritual and CVS will work together to develop an in-store education program for CVS trained professionals to best serve CVS consumers on their “path to better health.”

Rritual has scaled its production to meet growing demand, with a strategic sales and marketing focus aimed at major retailers across the USA in 2021. As previously noted, Rritual’s retail strategy is disruptive, the company is aiming at national retailers rather than regional rollouts to gain market share and establish category defining leadership.

Caffeine-free, USDA-approved products

Rritual product offerings are all USDA-certified organic and are a caffeine-free option that can be mixed with other beverages or enjoyed by itself. Rritual’s proprietary Immune-Synergy Six Mushroom Blend is the only functional health product on the market that contains a daily prebiotic blend which nourishes a healthy gut microbiome and facilitates balanced digestive function.

The CVS HealthHUB locations offer a broader range of health care services, new product categories, digital and on-demand health tools, trusted advice and personalised care.

More than 20% of HealthHUB stores are now dedicated to health services. HealthHUB teams are improving care for patients managing chronic conditions, with a focus on recommending next best clinical actions and driving medical costs savings. The HealthHUB store format also includes a variety of pathways to nutritional health with one-on-one and group counseling delivered by an in-store dietitian, as well as access to weight loss programs.

The design of the HealthHUB also includes community spaces and digitally enabled offerings. Wellness rooms are available for CVS professionals and community partners to host group events, including health classes, nutritional seminars and benefits education.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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