Business
Naples Soap Company Enhances Ancillary Product Lines and Expands Wholesale Offerings
Naples Soap Company Enhances Ancillary Product Lines and Expands Wholesale Offerings.
About this update from Naples Soap Company Inc.
[{"type":"text","content":"\nNaples Soap Company (OTC PINK: NASO), a retail leader and wholesale provider of self care products, has recently expanded its wholesale product line beyond its traditional line of branded skin and hair care products to include complementary, high-quality ancillary bath and home items. This strategic move came about as the Company recognized that pricing from the middle market providers was increasing at an unsustainable rate. Profit margins were decreasing and lead times were increasing.\n\n\nTo reverse this trend, Naples Soap Company started using its buying power with 14 stores and a robust e-commerce division, to skip the middle market broker and buy direct from the manufacturer. The Company has added over 100 new skus that complement its legacy product lines including soap dishes, makeup bags, hats, body scrubbers, facial scrubbers, hair ties, pedicure products and more. “These are products that our customers have been buying elsewhere, but now we’ve made it more convenient for customers to find them in our stores all under one roof,” said Deanna Wallin, Founder and CEO of Naples Soap Company. “We’ve seen a 4% increase in our profit margin since the start of this direct-buy effort. We’ve moved the needle during our slowest time of year and are gearing up with even more product offerings for the busy holiday shopping season.”\n\n\nIn addition to improving Naples Soap Company’s retail store profit margins by adding these new product lines, the Company is extending these same product offerings to its wholesale clients. “We work with boutiques, retail shops and spas all over the country. By passing along similar savings to our wholesale partners, we are helping them move from traditional keystone pricing to 70% plus margins. For a small mom-and-pop retail shop, that’s huge,” stated Wallin. “We vet the products, ensure the quality control, deliver in a timely fashion and help them increase their margins. It’s a win-win.”\n\n\nNaples Soap Company timed the launch of this new strategy to align with the peak buying cycle of their wholesale client base. Retailers are finalizing their holiday merchandise buys and bringing in fresh and new merchandise. “Since kicking off this effort a month ago, we’ve seen solid results with wholesale buye...