The free-from ice cream brand, which Murray invested in earlier this year, has reported a like-for-like revenue growth of 744% for May and June. That was 340% above its revenue target.
After several months of record sales, Oppo said: “Our mission is well-timed for market trends. Overall, we expect this financial year to be 284% growth on last year. This is conservative, as our current like-for-like growth illustrates.”
Rate of sale trebled
“We have built fantastic momentum since winning Start-up of the Year, appearing on Dragons’ Den [in Feburary 2016], and Andy Murray investing alongside 670 others. Since then our distribution has increased by 35% and our rate of sale trebled.”
The company secured more than £300,000 on crowd funding site Seedrs in February 2016. Murray helped the company smash its £150,000 funding target by supplying his own investment of an undisclosed amount.
Speaking earlier this year, after his investment became known, Murray said: “Giving recognition and support to British entrepreneurs is important to me, especially those who are the driving force behind growth-focused businesses.”
Sir Richard Branson
Murray’s investment drew the attention of Virgin Group founder, Sir Richard Branson.
Branson said: “Not only did [Oppo] end up the fastest crowdfunded food and drink business ever, but they became Seedrs’ most-overfunded campaign. That’s an endorsement for your business you can’t buy.”
Oppo ice cream is made using virgin coconut oil and stevia leaves with “added super foods” from Brazil. Oppo claims it has fewer calories than an apple, and a third of the sugar.
The company said: “Oppo aims to make our favourite sweet treats without compromising health. Consumers these days demand products which are healthy without sacrificing taste. Unfortunately most manufactures don't understand that.”
While the ice cream business attracted Murray’s investment, the company failed to make an impact on Dragons’ Den in February. The ice cream business appeared on the television show to pitch its healthy treat, and asked for an investment of £60,000 in return for a 7% stake in the business.
However, the Dragons were unimpressed with the ice cream’s aftertaste, and the owners, Charlie and Harry Thuilliers, walked away with nothing.
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