ToughBuilt Industries Expands Relationships with Additional SKUs Available in Three Major Retailers Across Europe
December 01 2022 - 8:30AM
ToughBuilt Industries, Inc. ("ToughBuilt" or the
“Company”) (NASDAQ: TBLT; TBLTW) has today confirmed the Company is
strengthening its relationship with European and UK retailers
Wickes, Toolstation UK & Toolstation France.
After a successful launch of ToughBuilt products, Wickes, which
has 230 locations across the United Kingdom, will be increasing the
number of ToughBuilt SKUs available to its customer base, from 15
to 48 SKUs beginning January 2023.
Additionally, Toolstation UK, with over 550 stores nationwide,
following consistent and impressive sales, Toolstation UK has
increased its ToughBuilt SKUs to 35 total SKUs and has committed to
several national promotions, contributing to a significant uplift
in sales conversions.
Toolstation France has also more than doubled its original
offering of the ToughBuilt range to from 25 to 65 SKUs in total.
The announcement reflects the strengthening of an already
successful relationship between the Company and Toolstation France,
which is one of the country’s leading omnichannel retailers of
tools, commercial construction equipment and building
materials.
Michael Panosian, ToughBuilt CEO-Founder, stated, “We are
pleased to extend our relationship with these three recognized
European retailers, and that ToughBuilt continues to rapidly expand
its international presence.” He continued, “All three customers are
ideal partners for our European and UK operations, underpinned by
the successful growth of ToughBuilt sales offerings and brand
awareness across the continent.”
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. Since launching product sales in 2013, we have experienced
significant annual sales growth. 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 products to the building and home improvement communities
that are innovative, of superior quality derived in part from
enlightened creativity for our end users while enhancing
performance, improving well-being 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, (vii) product
liability claims, (viii) product malfunctions, (ix) our limited
manufacturing capabilities and reliance on subcontractors for
assistance, (x) our efforts to successfully obtain and maintain
intellectual property protection covering our products, which may
not be successful, (xi) our reliance on single suppliers for
certain product components, (xii) 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 (xiii) 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
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