ToughBuilt Partners with WingPoint Group to Launch Amazon Online Storefront along with New Product Categories
LAKE FOREST, Calif., Feb. 12, 2019 (GLOBE NEWSWIRE) -- 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/.
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.
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Released February 12, 2019