The announcement celebrates GABY’s commitment to honoring the traditional cannabis culture while building a sustainable, scalable operation
SAN DIEGO, CA / ACCESSWIRE / October 19, 2021 / GABY Inc. (“GABY” or the “Company”) (CSE:GABY)(OTCQB:GABLF), a California consolidator of cannabis dispensaries and the parent company of San Diego’s Mankind Dispensary (“Mankind”), announces a series of initiatives that have helped steer Mankind towards operational and cultural improvements since acquiring the dispensary in April 2021.
Highlights of these operational improvements include:
The onboarding of several key positions including – Simon Lileikis as President (Starbucks), Marshall Minor as CFO (Shryne Group/STIIIZY), and Rick Foltz as Director of Retail Ops (Art of Shaving, Nike).
Implemented $2.3 MM in annual savings commencing in Q4 -21 through payroll savings and operating cost efficiencies.
Logistics improvements at its distribution operation, Wild West Industries, Inc. (“Wild West Industries”), improving inventory turns, and reducing inventory on hand down from 45 days to 20 days.
Launched its proprietary brands onto Mankind shelves accounting for roughly 20% of cannabis flower sales at Mankind. GABY’s newest brand, Kind Republic™ sold over $1MM in Mankind dispensary in just over 6 months and boasts avariable gross margin of almost 75%.
Restructured delivery business with expected revenue increase over the next 12 months