Edison Nation Forms Strategic Alliance with Venture Partner IdeaPros

Date : 01/15/2020 @ 1:00PM
Source : Business Wire
Stock : Edison Nation Inc (EDNT)
Quote : 1.91  0.04 (2.14%) @ 3:01PM

Edison Nation Forms Strategic Alliance with Venture Partner IdeaPros

Edison Nation (NASDAQ:EDNT)
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Edison Nation, Inc., a multifaceted ecosystem that fosters innovation and drives IP, media and consumer products, is pleased to announce the commencement of a strategic alliance with venture partner IdeaPros. Through this alliance, the two innovator platforms will collaborate to develop select product lines.

Edison Nation will handle development, sourcing, production, distribution, and sales for certain brands created by IdeaPros entrepreneurs. Initial collaborations will include offerings from Lotus, a beauty sponge cleaning tool, and Raw Beauty Co., an organic skincare line.

With the help of Edison Nation, Lotus, created by FiFi Larney, will launch two different sizes of the cleaning tool that will be sold individually as well as in kits with make-up blenders and cleaning solution.

Raw Beauty Co., created by Aziza Nicholson, develops high-quality natural, organic, cruelty-free products. Edison Nation will first launch a complete, five-product facial regimen, with body and hair products to follow. The company will distribute the products via Amazon as well as other e-commerce and retail channels.

“With this alliance, Edison Nation is forming a strong, mutually beneficial relationship with a key player in the innovation sector,” says Chris Ferguson, CEO of Edison Nation. “The global skincare industry is projected to be worth $183 billion by 2025, so we are thrilled to begin this endeavor by helping develop products in this sector and other industries.”

Fred Cary, Co-Founder of IdeaPros, comments, “IdeaPros is hyper-focused on building extraordinary products with broad market appeal. Now, with our strategic partnership with Edison Nation, we have a world-class partner with the talent and resources necessary to introduce these products to the nation and beyond. I am personally honored to have this association and we have an extraordinary and continuing product flow that will keep us all busy for years to come.”

About Ideapros

IdeaPros® is the world's first Super Venture Partner™. Led by co-founder Frederick Cary, a nationally known industry leader with decades of experience, IdeaPros helps brilliant entrepreneurs bring their innovative product ideas to life.

About Edison Nation, Inc.

Edison Nation, Inc. (EDNT), is a multifaceted ecosystem which fosters innovation and drives IP, media and consumer products. Edison offers innovation sourcing, product design, sales, manufacturing, and fulfillment services. Edison Nation’s model is to source innovative ideas to launch internally or license to brand partners. Edison Nation hopes to leverage its television property, Everyday Edisons, to become the recognized leader in the innovator community.

For more information, please visit www.edisonnation.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing the Company's views as of any subsequent date. Such forward-looking statements are based on information available to the Company as of the date of this release and involve a number of risks and uncertainties, some beyond the Company's control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including consumer, regulatory and other factors affecting demand for the Company's products, any difficulty in marketing the Company's products in global markets, competition in the market for consumer products, any inability to raise capital to fund operations and service the Company's debt. Additional information that could lead to material changes in the Company's performance is contained in its filings with the SEC. The Company is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of new information, future events or otherwise.

Investor Relations: Aimee Carroll Phone: (484) 893-0060 Email: Investors@edisonnation.com

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