Clearly Canadian CEO Bobby Genovese told shareholders Tuesday that the brand grew revenue in 2007 for the first time in over 10 years.
Genovese reported that the company’s gross income jumped 42 percent from $7.4 million to $10.6 million, and he expects the company to grow its income by another 50 percent in 2008.
He added that the company had formed strong relationships with major world retailers including Wal-Mart, 7-11 and Whole Foods.
Genovese’s BG Capital Group became a controlling shareholder in Clearly Canadian three years ago. In a letter to investors, Genovese wrote that the company is “well into the major transformation of Clearly Canadian Brands, and are now a more diversified company, controlling numerous brands all focusing on the ‘Good for You Foods‘ market sector.”