ToughBuilt Industries Expands European Distribution Footprint Across France Through Large Retail Partners
23 September 2021 - 10:30PM
ToughBuilt Industries,
Inc. ("ToughBuilt") (NASDAQ: TBLT;
TBLTW), today announced that several large home
improvement retailers will offer ToughBuilt products in nearly 500
stores across France. ToughBuilt’s new retail customers include
well-recognized national and multinational chain brands including
Toolstation, Setin Group and Gedimat.
Michael Panosian, Chief Executive Officer of ToughBuilt,
commented, “ToughBuilt continues to gain market share in Europe,
successfully penetrating some of the fastest growing and leading
home improvement chains. France is a multibillion-dollar market,
representing a significant opportunity for ToughBuilt, which we
believe will strengthen our relationships with international
retailers and allow us to gain brand recognition with professional
contractors and do-it-yourself consumers.”
Toolstation, a multinational home improvement chain in France,
currently carries 23 ToughBuilt SKUs, which is expected to increase
to 50 SKUs by end-of-year. Setin Group, a specialized hardware and
tool chain, currently carries 26 best-selling ToughBuilt products.
Gedimat, a major national group of independent home improvement
retailers, will offer ToughBuilt’s entire product catalog and begin
stocking ToughBuilt SKUs this October.
ABOUT TOUGHBUILT INDUSTRIES, INC.
ToughBuilt is an advanced product design, manufacturer and
distributor with emphasis on innovative products. Currently 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 STATEMENTS
This 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) market acceptance of our existing
and new products, (ii) delays in bringing products to key markets,
(iii) an inability to secure regulatory approvals for the ability
to sell our products in certain markets, (iv) intense competition
in the industry from much larger, multinational companies, (v)
product liability claims, (vi) product malfunctions, (vii) our
limited manufacturing capabilities and reliance on subcontractors
for assistance, (viii) our efforts to successfully obtain and
maintain intellectual property protection covering our products,
which may not be successful, (ix) our reliance on single suppliers
for certain product components, (x) 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 (xi) 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
ToughBuilt Industries (NASDAQ:TBLT)
Historical Stock Chart
From Apr 2024 to May 2024
ToughBuilt Industries (NASDAQ:TBLT)
Historical Stock Chart
From May 2023 to May 2024