Innovative Designs Distributorship Expansion

Rhea-AI Summary

Innovative Designs Inc. (OTCQB: IVDN) is negotiating with potential distributors to expand its Insultex House Wrap® coverage into Ohio, Pennsylvania, Colorado, New York, and West Virginia. CEO Joseph Riccelli stated that this expansion would increase their distribution reach to 30% in the contiguous U.S. and aims to significantly boost revenue as new distributors are onboarded. The company specializes in manufacturing Insultex® which is known for being the thinnest and warmest insulator available in the market.

Positive

• Expansion into five new states increases distribution coverage to 30%.
• Potential for substantial revenue growth with new distributors.

Negative

• None.

Pittsburgh, PA, June 13, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Innovative Designs Inc. (OTCQB: IVDN) has been contacted by and entered into negotiations with several companies interested in becoming a licensed distributor of its Insultex House Wrap®. The interested parties would add the following states to the current territories already in place: Ohio, Pennsylvania, Colorado, New York, and West Virginia. Innovative Designs Inc. CEO, Joseph Riccelli, commented, “Adding these new distributors would increase our coverage in the contiguous U.S. to 30%. Our goal has always been to eventually have distributorship coverage in all the key areas across the United States. These additional distributors will be positioned in locations where homebuilders and contractors are in abundance. Our expectations are a substantial increase in revenue as these new distributors come onboard.” 

About Innovative Designs Inc.
Innovative Designs Inc. manufactures the Insultex® House Wrap, Arctic Armor® Line, under the "i.d.i.gear" label featuring INSULTEX®. INSULTEX® is the thinnest, lightest and warmest insulator in the market today. For more information, please visit http://www.idigear.com or www.insultexhousewrap.com.

Disclaimer
Certain statements in this press release constitute "forward-looking" statements as defined by federal law. Such statements are based on assumptions, but there is no assurance that actual outcomes will not be materially different as those implied. Any such statements are made in reliance on the "Safe Harbor" protections provided under the Private Securities Reform Act of 1995 and are subject to various factors, including the risks and matters discussed in the Company's SEC filings available at http://www.sec.gov.

Joseph Riccelli
412-799-0350
joer@idigear.com

FAQ

What is Innovative Designs Inc. planning regarding Insultex House Wrap®?

Innovative Designs Inc. is negotiating with distributors to expand Insultex House Wrap® coverage into Ohio, Pennsylvania, Colorado, New York, and West Virginia.

How much will the new distributors increase IVDN's coverage?

The new distributors will increase Innovative Designs' coverage in the contiguous U.S. to 30%.

What are the anticipated benefits of adding new distributors for IVDN?

The anticipated benefits include a substantial increase in revenue as new distributors become operational.