ToughBuilt Industries Expands Distribution of 84 Product SKUs in All 96 Sears Stores in Mexico
October 25 2022 - 8:30AM
ToughBuilt Industries, Inc. ("ToughBuilt") (NASDAQ: TBLT;
TBLTW), announced today that the Company has expanded its
distribution of 84 ToughBuilt branded products to be sold in all
Sears’ Mexico locations, totaling 96 storefronts nationwide. Sears
continues to be a leading supplier to its core consumers in the
hardware and home improvement trades in Latin America, and its
comprehensive store count and geographical presence across Mexico
offer ToughBuilt an opportunity to offer a wide product range to
professional end users in the country.
Sears operates as a part of Grupo Carso, one of Latin America's
most diversified retail cooperatives, making the iconic hardware
brand Mexico’s second-largest departmental store.1 Additionally,
with many cardholders in Mexico, Sears is among the largest
non-banking credit issuers in the nation.2
Michael Panosian, ToughBuilt’s CEO, commented, “ToughBuilt is
pleased to have this strategic opportunity to capture an additional
share of Latin America’s hand tools market. This expansion of the
ToughBuilt product lines in Sears locations across Mexico offers
the chance to establish further brand presence in crucial global
trade locations.”
- Grupo Sanborns |
Sears (gsanborns.com.mx)
-
Informe-Anual-Carso-2021-ENG.pdf
ABOUT TOUGHBUILT INDUSTRIES,
INC:ToughBuilt is an advanced product design,
manufacturer, and distributor with emphasis on innovative products.
Currently, we are focused on tools and other accessories for the
professional and do-it-yourself construction industries. We market
and distribute various home improvement and construction product
lines for both the do-it-yourself and professional markets under
the TOUGHBUILT brand name, within the global multibillion dollar
per year tool market industry. All of our products are designed by
our in-house design team. Our current product line includes three
major categories, with several additional categories in various
stages of development, consisting of Soft Goods & Kneepads and
Sawhorses & Work Products. Our mission is to provide innovative
products to the building and home improvement communities that
enlighten creativity for our end users while enhancing performance,
and building high brand loyalty. Additional information about the
Company is available at: https://www.toughbuilt.com/.
FORWARD-LOOKING STATEMENTSThis press release
contains “forward-looking statements.” Such statements may be
preceded by the words “intends,” “may,” “will,” “plans,” “expects,”
“anticipates,” “projects,” “predicts,” “estimates,” “aims,”
“believes,” “hopes,” “potential” or similar words. Forward-looking
statements are not guarantees of future performance, are based on
certain assumptions and are subject to various known and unknown
risks and uncertainties, many of which are beyond the Company’s
control, and cannot be predicted or quantified and consequently,
actual results may differ materially from those expressed or
implied by such forward-looking statements. Such risks and
uncertainties include, without limitation, risks and uncertainties
associated with (i) the impact of the worldwide COVID-19 pandemic
and government actions, on our business, (ii) supply chain
disruptions, (iii) market acceptance of our existing and new
products, (iv) delays in bringing products to key markets, (v) an
inability to secure regulatory approvals for the ability to sell
our products in certain markets, (vi) intense competition in the
industry from much larger, multinational companies, (v) product
liability claims, (vii) product malfunctions, (viii) our limited
manufacturing capabilities and reliance on subcontractors for
assistance, (ix) our efforts to successfully obtain and maintain
intellectual property protection covering our products, which may
not be successful, (x) our reliance on single suppliers for certain
product components, (xi) the fact that we will need to raise
additional capital to meet our business requirements in the future
and that such capital raising may be costly, dilutive or difficult
to obtain and (xii) the fact that we conduct business in multiple
foreign jurisdictions, exposing us to foreign currency exchange
rate fluctuations, logistical and communications challenges,
burdens and costs of compliance with foreign laws and political and
economic instability in each jurisdiction. More detailed
information about the Company and the risk factors that may affect
the realization of forward-looking statements is set forth in the
Company’s filings with the Securities and Exchange Commission
(SEC), including the Company’s Annual Report on Form 10-K and its
Quarterly Reports on Form 10-Q. Investors and security holders are
urged to read these documents free of charge on the SEC’s web site
at http://www.sec.gov. The Company assumes no obligation to
publicly update or revise its forward-looking statements as a
result of new information, future events or otherwise.
Investor Relations Contact:KCSA Strategic
CommunicationsDavid Hanovertoughbuilt@kcsa.com
Source: ToughBuilt Industries, Inc
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