Business
Iconic Brands Reports Record Financial Results for Full Year 2021
Iconic Brands Reports Record Financial Results for Full Year 2021.
About this update from Iconic Brands, Inc.
[{"type":"text","content":"\n Total revenue for fiscal year 2021 increased 74% year-over-year, driven primarily by sales from newly acquired TopPop LLC (“TopPop”), products, which include the popular “cocktails-to-go” pouches and alcohol ice pops AMITYVILLE, NY, June 16, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Iconic Brands, Inc. (OTCQB: ICNB) (“Iconic” or the “Company”), a leader in the development, design and delivery of alcohol and non-alcohol beverages, today reported its financial results for the full year ended December 31, 2021. Full Year 2021 Financial Highlights Total revenue for the fiscal year ended December 31, 2021, was $4,960,016, an increase of $2,111,103, or approximately 74%. Unaudited pro forma revenue for the FY ending December 31, 2021, was $14,853,763, an increase of $9,763,008, or approximately 192%. Comparisons to 2020 financial results reflect the Company’s July 2021 acquisition of TopPop, one of the leading providers of ready-to-freeze alcohol ice pops. Full Year 2021 Highlights Completed a $40 million private placement. Iconic used proceeds to acquire 100% of TopPop and expand TopPop’s existing 30,000 square foot FDA-registered facility, and to ramp up domestic and international growth of its Bellissima brand by increasing brand awareness through social media and digital marketing, hiring brand ambassadors and product influencers, increasing inventory, and preparing to roll out new brands in the near future. Completed the July 2021 acquisition of TopPop, a premier product development, contract manufacturing and packaging company specializing in flexible packaging applications in the food, beverage and health categories. It is a leader in innovating low-calorie, ready-to-go drinks; ready-to-freeze (RTF); and ready-to-drink (RTD) products. It holds the federal and state licenses necessary to manufacture and blend malt-, wine- and spirits-based products. The acquisition has positioned Iconic as a vertically integrated company, expanding its capabilities to include the development, production and distribution of alcohol brands. In September 2021, TopPop leased an additional 65,000 square foot manufacturing facility in Pennsauken, New Jersey. The facility reached full-scale production capability at the end of March 2022. It has approximately $4 million of high-speed...