Vinco Ventures, Inc. announces deal with OPTEC International, Inc.

Rhea-AI Summary

Vinco Ventures (BBIG) announced that its growth platform, Markets on Main, has struck a new agreement with OPTEC International for distributing innovative health products. The collaboration focuses on live shopping and digital commerce and includes two core products: the UV-C LED iWand, which disinfects surfaces effectively, and the Hydroxyl Portable Air Sterilizer that eliminates bacteria and viruses. This venture aligns with Vinco's B.I.G. strategy, aiming to leverage digital monetization and growth opportunities in health and wellness.

Positive

• Agreement with OPTEC International expands product offering for Markets on Main.
• Launch of innovative products like the iWand and Hydroxyl Portable Air Sterilizer enhances Vinco's market presence.
• Aligns with Vinco's B.I.G. strategy, focusing on growth and digital monetization.

Negative

• None.

Bethlehem, PA, Dec. 02, 2020 (GLOBE NEWSWIRE) -- Vinco Ventures, Inc. (NASDAQ: BBIG), today announced its growth platform Markets on Main has executed a new agreement with OPTEC International, Inc. for the production and distribution of their innovative health and wellness products on live shopping and digital commerce.

Markets on Main, one of Vinco’s growth platforms, provides full-service management for products for live shopping and digital commerce worldwide. Additionally, Markets on Main also provides the logistic services streamlining the process for its chosen product partners. “Markets on Main is excited to be working with OPTEC International, Inc.,” said Brian McFadden, Chief Strategy Officer. “Distribution and growth deals like the one we closed with OPTEC are perfect for our Markets on Main growth platform,” McFadden continued. “OPTEC has cutting edge products and the celebrity names to back them up. We look forward to their product launches and to be a part of their growth strategy long term.” This new contract offers the Markets on Main the opportunity to distribute OPTEC’s two core products: the I-Wand and Hydroxyl Portable Air Sterilizer.

The initial product launch will be the UV-C LED iWand which is a slim, hand-held device that disinfects all surfaces and kills 99.9% of bacteria and viruses and is proven to work in 50 seconds. Perfect for cell phones, steering wheels, or dining tables, the iWand is made from military grade aluminum and fits in a pocket.

The second product is a one of the kind Hydroxyl Portable Air Sterilizer, a small, safe, and quiet sterilizer inhibits the growth of bacteria, viruses, and germs in the home office or car and is 99.9% effective. It promotes a safe environment for everyone, including children and pets. In addition to sterilization, this device also removes dust and deodorizes.

“This collaboration is the perfect way to leverage our platform, Markets on Main, under Vinco Ventures’ umbrella and is just one of the opportunities presented to us under our new ‘B.I.G.’ Strategy,” said Chris Ferguson, CEO.

About Vinco Ventures, Inc.

Vinco Ventures, Inc. (BBIG) is a mergers and acquisition company focused on digital commerce and consumer brands. Vinco’s B.I.G. (Buy. Innovate. Grow.) strategy will seek out acquisition opportunities that are poised for scale and grow said acquisitions through targeted traffic and content campaigns. For more information, please view our investor presentation or visit Investors.vincoventures.com.

Forward-Looking Statements and Disclaimers

Certain statements in this announcement are forward-looking statements which are based on the Company’s expectations, intentions and projections regarding the Company’s future performance, anticipated events or trends and other matters that are not historical facts, including expectations regarding: (i) the Company’s long-term targets, goals and strategies; (ii) the expected benefits of the Company’s focus on digital monetization; (iii) the future impact of the preemptive actions the Company took in response to the COVID-19 pandemic coupled with its cash flow generation and balance sheet and liquidity profile; (iv) the Company’s strategies for each of its segments, including its focus on recurring revenue, its balance sheet and variable cost structure, and the opportunities in the industries the Company serves; (v) the Company’s positioning for future growth and its ability to optimize performance of existing businesses, pursue its disciplined acquisition strategy and effectively manage its capital structure; (vi) the fragmentation of the markets in which the Company operates, the acquisition opportunities in those markets, the Company’s intent to continue to explore opportunistic acquisitions and the Company’s capacity to absorb additional acquisitions; (vii) certain expected 2020 financial results, including the Company’s updated guidance for 2020, the assumptions it made and the drivers contributing to its guidance; (viii) the Company’s flexibility to capitalize on the current environment and invest in potential strategic opportunities; and (ix) the impacts of the COVID-19 pandemic on the future operating and financial performance of the Company and its customers, the Company’s plans and strategies to adapt and respond to the pandemic and the expected impact of those plans and strategies. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: (i) economic conditions, competition and other risks that may affect the Company’s future perfor

FAQ

What is the new agreement between Vinco Ventures (BBIG) and OPTEC International about?

Vinco Ventures has signed an agreement for the production and distribution of health and wellness products through its Markets on Main platform.

What products will Vinco Ventures distribute from OPTEC International?

Vinco will distribute the UV-C LED iWand and Hydroxyl Portable Air Sterilizer.

How does Vinco Ventures' B.I.G. strategy relate to the new agreement?

The new agreement aligns with Vinco's B.I.G. strategy focused on acquiring and growing innovative products.

What is the effectiveness of the UV-C LED iWand announced by Vinco Ventures?

The UV-C LED iWand is designed to disinfect surfaces and kill 99.9% of bacteria and viruses in 50 seconds.

What are the benefits of the Hydroxyl Portable Air Sterilizer?

The Hydroxyl Portable Air Sterilizer inhibits the growth of bacteria and viruses, ensuring a safe environment.