AMC already offers branded popcorn and is preparing to launch branded gourmet chocolate candies.
AMC Entertainment Holdings Inc. may ramp up its efforts to sell branded products with wine named in honor of the investors that turned the movie theater chain into a meme stock darling.
“Simian” is a nod to the investors who turned the company into a meme stock, who often refer to themselves as “apes” or “ape nation.”AMC has made a concerted push into branded products recently. The company announced a popcorn partnership with Walmart Inc. WMT, +0.02% earlier this year, with the product initially available at hundreds of the retail giant’s stores ahead of the Academy Awards on March 12. The following month, the deal was expanded to encompass 2,600 Walmart stores.
AMC is looking to expand the popcorn partnership to other grocery chains, according to Aron, who said that it could become a $100 million-a-year revenue source for AMC. Aron has also said that AMC is planning to launch branded premium gourmet candy.AMC is no stranger to bold moves, as evidenced by the company’s chain’s $27.9-million investment in gold and silver miner Hycroft Mining Holding Corp. HYMC, +4.44% last year.
Aron addressed the recent stock conversion’s impact last week. “Like you, the coming together of AMC common and preferred stock along with the reverse stock split in August decreased both my number of owned and granted-but-unvested AMC shares/units,” he tweeted Wednesday. “So, I currently have an economic interest in more than 800,000 AMC shares now, rather than the more than 8 million AMC shares and APE units previously.
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