Stryve Business Combination with Andina Acquisition Corp. III
Stryve
Resilient Through COVID
Stryve has worked diligently to ensure the safety of its employees while taking advantage of
opportunities presented as a result of disruptions. Sales exceed pre-COVID levels
Revenue
.
•
Retail: Stryve saw an initial spike in sell-through as a result of pantry-loading in mid-March followed by a sharp
decline in sell-through beginning early-April primarily attributable to a decline in retail store traffic. As of year-end
2020, sell-through at key retailers has largely returned to pre-COVID levels despite no demo activity
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Given the Company's vertical integration, Stryve was able to move quickly to steal placements from brands
experiencing supply chain disruptions
Stryve's sales team continues to secure incremental placements throughout the U.S. virtually
E-Commerce: Stryve was in the middle of a planned e-commerce launch and shift to digital marketing as the
pandemic began. All retail sales declines attributable to COVID have been more than offset by this well executed
e-commerce strategy
Operations
•
The Company's COVID-19 task force quickly implemented strict precautions at Stryve's Madill, OK facility while
HQ employees began working remotely. Demo activity ceased and sales travel has been put on hold in favor of
virtual appointments.
Supply Chain
•
Thorough supply-chain assessment confirmed continuity. Company's beef and packaging supply chain have seen
no disruptions
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