ToughBuilt Partners with WingPoint Group to Launch Amazon Online Storefront along with New Product Categories
February 12 2019 - 9:00AM
ToughBuilt Industries, Inc. (“ToughBuilt”) (NASDAQ: TBLT;
TBLTW), a designer, manufacturer and distributor of
innovative tools and accessories to the building industry, today
announced it has partnered with WingPoint Group, a manufacturers’
consulting agency, to help launch and manage ToughBuilt’s Amazon
online store front and overall online presence. WingPoint will also
aid in expanding ToughBuilt’s product portfolio into new product
categories, both online and offline.
WingPoint is a retail consultancy firm with over 18 years of
experience and is comprised of former senior executives from
Amazon, Google, and Best Buy. WingPoint specializes in ecommerce
strategy, online and offline retail account management, and digital
marketing.
Michael Panosian, Chief Executive Officer of ToughBuilt,
commented, “We are pleased to partner with WingPoint, as they have
an impressive track record driving online sales for a number of
leading brands. Launching an Amazon storefront and our entry into
other market places globally is an important next step in our
strategy to grow our overall presence. In addition, we are
adding new SKUs and expanding into new product categories, both
online and offline, in order to leverage the strong brand loyalty
among our customers.”
Ben Bounketh, Co-Founder and Vice President of WingPoint Group,
stated, “We are truly excited to work with Michael Panosian and the
ToughBuilt team to support the global expansion of their brand and
product lines, both online and across their retail network. Our
goal is to establish a strong online presence, while introducing
new product categories, in order to capitalize on the growing
customer demand.”
About ToughBuilt Industries, Inc.
ToughBuilt is a leading designer, manufacturer and distributor
of innovative tools and accessories to the building industry. 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) negative clinical trial results or lengthy
product delays in key markets, (iii) an inability to secure
regulatory approvals for the sale of our products, (iv) intense
competition in the medical device 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) insufficient or
inadequate reimbursement by governmental and other third party
payers for our products, (ix) our efforts to successfully obtain
and maintain intellectual property protection covering our
products, which may not be successful, (x) legislative or
regulatory reform of the healthcare system in both the U.S. and
foreign jurisdictions, (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.
Contact:
Crescendo Communications, LLC Email: TBLT@crescendo-ir.com Tel:
(212) 671-1021
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