Children’s wear Peekaboo Beans June 2019 revenue increased by 300% YoY
The global US$339 billion by 2024. The children’s wear market is projected to grow at a CAGR of 8.1% from 2019 to 2024. With 26% of the population being under 15 years old the market is huge. Children’s wear companies that can stand out from the crowd with great products and marketing are growing even faster. is forecast to reach
Peekaboo Beans Inc. (CSE: BEAN | OTCQB: PBBSF) is a growing Canadian company working in the children’s apparel industry. The Company was started as a grassroots company 10 years ago in Richmond British Columbia and now has a staff of 20 with about 1,200 independent sales representatives.
Peekaboo’s values and products
The concept was born from a personal and practical idea by founder and CEO Traci Costa who sought a better way to dress her daughter in ultra comfortable, durable, stylish and most importantly, made for ‘playful living’ clothes. Traci’s desire to create a better alternative to children’s wear that was more functional for children drove her to create her first collection. With this goal in mind, Peekaboo designs children’s clothing intentionally crafted to inspire independence and confidence while providing comfort for every occasion.
Founder and CEO Traci Costa states: “It’s not just about the clothes, it’s about play, passion, and possibility. It’s about product with a purpose.”
Rather than using a ‘fast fashion’ approach which focuses on minimal design and high volume manufacturing of inexpensive clothing (cheap & low quality), Peekaboo focuses on unique and practical design using ethical manufacturing.
The name Peekaboo Beans was inspired by a game founder Traci played with her first daughter and their favorite snack, edamame. Even Canadian Prime Minister Justin Trudeau’s children can be seen wearing Peekaboo Beans fashion.
Growing brand loyalty, marketing, and online presence
Peekaboo is lowering operational costs and is now reaching a greater target audience as their brand name and brand loyalty continues to grow. The Company is transitioning to an omni-channel marketing and business model that will give the push needed to ramp up marketing spend and enhance brand positioning through various campaigns. Peekaboo Beans approach to online shopping is providing a stress free and flexible environment that children can participate in hosted from the comfort of home.
June revenue up ~300% YoY
The Company has just had a very successful sales month of June 2019. The summer sales for June resulted in $160,000 in revenue across Peekaboo’s various distribution channels, that’s a ~300% increase on the June 2018 revenue of $41,000.
Traci Costa, CEO and President of Peekaboo Beans, commented: “We are very excited with our June revenue results and are eager to see how we can continue to beat our expectations moving forward.”
Q1 2019 expenses down
The Company’s Q1 2019 expenses have been reduced from $1.1 m to $570,000 and commission costs lowered to 9% from 28% on average.
Peekaboo Beans Inc. is a children’s apparel brand with a focus on environmentally responsible clothes that are intentionally designed to inspire play. Based in Richmond British Columbia, Canada; Peekaboo has a market cap of C$ 2.5 million.