September 06, 2017
Peekaboo Beans Announces Strategic Partnership with Servicequest to Expand into U.S.
Peekaboo Beans, the British Columbia-based retailer of ethically sourced children’s apparel, recently announced that it has engaged the services of ServiceQuest, a direct selling business incubator, to help strategically execute its planned expansion into the United States later this Fall.
“After seeing the enormous success companies such as The Pampered Chef have had with the support of ServiceQuest, we are eager to partner with them to deploy our U.S. expansion strategy this Fall,” said Traci Costa, Founder and CEO of Peekaboo Beans. “We are confident their experience and expertise will lead us to exciting hypergrowth.”
Founded in 1988, ServiceQuest helps direct selling companies create global strategies to deliver outstanding service to distributors and customers and drive overall company growth and success.
“There are always four corners on which a successful enterprise is created in direct selling: brand appeal, product advocates, vision, and structure,” said Terrel Transtrum, Founder and CEO of ServiceQuest. “Peekaboo Beans has all four and I see tremendous potential to begin scaling on the foundation that Traci and her team have crafted and tested. It’s time for growth!”
Peekaboo Beans also recently announced its third quarter 2017 financial results. The company achieved a 20 percent increase in sales, a significant increase in contribution margin from 11 percent to 22 percent, and 80 percent growth in Independent Stylist numbers over the same period last year.
“We continued to see strong momentum across our business during the third quarter,” said Costa. “We are setting the stage for a strong launch into USA this Fall, coming off our strongest sales quarter ever. This gives us a strong foundation to build on.”