Kaival Brands, Koupon Announce Partnership to Increase Customer Options
Kaival Brands Innovations Group (NASDAQ: KAVL) has partnered with Koupon to launch a digital engagement program aimed at enhancing customer interaction with the BIDI® Stick, an electronic nicotine delivery system. This initiative will provide age-verified adult consumers with tailored digital promotions, incentivizing purchases while ensuring compliance with age restrictions. CEO Niraj Patel highlighted the aim to better understand consumer needs, while Koupon's CEO noted the partnership's significance for the convenience store industry.
- Launch of a partnership with Koupon to enhance customer engagement.
- Age-restricted digital promotions for the BIDI® Stick may boost sales.
- Focus on understanding consumer needs aligns with business growth strategies.
- Dependence on regulatory compliance regarding age restrictions poses operational risks.
GRANT, Fla., Dec. 6, 2021 /PRNewswire/ -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company," or "we"), is the exclusive global distributor of products manufactured by Bidi Vapor, LLC ("Bidi Vapor"), including the BIDI® Stick disposable electronic nicotine delivery system ("ENDS"), which is intended exclusively for adults 21 and over, announced that it has partnered with Koupon to create an electronic engagement program involving Koupon's digital promotion platform. The partnership will offer customers who purchase the BIDI® Stick—a premium electronic cigarette—digital opportunities based on their purchases.
The partnership will offer incentives to specific customers based on purchasing habits, allowing users 21 and older of vaping products the opportunity to experience the device and its unique qualities.
"Working with Koupon will facilitate a greater communication with adult users of our products," said Niraj Patel, president and CEO of Kaival Brands, Melbourne, Fla. "We hope to better understand their needs and facilitate the purchase of our premium product."
The goal of the program is to better serve its adult customer base, involving assessment of consumer insights and digital offers to users of Bidi Vapor products, officials said. Age-verified adult consumers can access digital promotions powered by Koupon's technology and redeem them at retail outlets within Bidi Vapor's distribution network. The benefits to consumers grow over time as calculated by the Koupon platform.
In addition, integrated security identifies or limits age-restricted content. "Koupon's age-restriction policies align with our goals," Patel said. "We have always focused on keeping our products out of the hands of minors."
"This partnership is a significant milestone for the convenience store industry," said Brad Van Otterloo, CEO of Koupon. "Partnering with a growing e-cigarette company like Bidi Vapor will benefit the industry as a whole."
Mr. Patel, the Company's President and Chief Executive Officer, owns and controls Bidi Vapor. As a result, Bidi Vapor and the Company are considered under common control and Bidi Vapor is considered a related party.
ABOUT BIDI VAPOR
Based in Melbourne, Florida, Bidi Vapor maintains a commitment to responsible marketing, supporting age-verification standards and sustainability through its BIDI® Cares recycling program. Bidi Vapor's premier device, the BIDI® Stick, is a premium product made with medical-grade components, a UL-certified battery and technology designed to deliver a consistent vaping experience for adult smokers 21 and over. Bidi Vapor is also adamant about strict compliance with all federal, state and local guidelines and regulations. At Bidi Vapor, innovation is key to its mission, with the BIDI® Stick promoting environmental sustainability, while providing a unique vaping experience to adult smokers.
For more information, visit www.bidivapor.com
ABOUT KAIVAL BRANDS
Based in Grant, Florida, Kaival Brands is a company focused on growing and incubating innovative and profitable products into mature and dominant brands in their respective markets. Our vision is to develop internally, acquire, own, or exclusively distribute these innovative products and grow each into dominant market-share brands with superior quality and recognizable innovation. Kaival Brands is the exclusive global distributor of all products manufactured by Bidi Vapor.
Learn more about Kaival Brands Innovations Group, Inc., at www.ir.kaivalbrands.com
Forward-Looking Statements
This press release includes statements that constitute "forward-looking statements" within the meaning of federal securities laws, which are statements other than historical facts that frequently use words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "position," "should," "strategy," "target," "will," and similar words. All forward-looking statements speak only as of the date of this press release. Although we believe that the plans, intentions, and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions, or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such statements. Our business may be influenced by many factors that are difficult to predict, involve uncertainties that may materially affect results, and are often beyond our control. Factors that could cause or contribute to such differences include, but are not limited to, the timing and results of Bidi Vapor's appeal of the FDA's PMTA determinations; the scope of future FDA enforcement of regulations in the ENDS industry; the FDA's approach to the regulation of synthetic nicotine and its impact on our business; the duration and scope of the COVID-19 pandemic and impact on the demand for the products we distribute; the actions governments, businesses, and individuals take in response to the pandemic, including mandatory business closures and restrictions on onsite commercial interactions; the impact of the pandemic and actions taken in response to the pandemic on global and regional economies and economic activity; the pace of recovery when the COVID-19 pandemic subsides; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps that we could take to reduce operating costs; our inability to generate and sustain profitable sales growth; circumstances or developments that may make us unable to implement or realize anticipated benefits, or that may increase the costs, of our current and planned business initiatives; changes in government regulation or laws that affect our business; significant changes in our relationships with our distributors or sub-distributors; and those factors detailed by us in our public filings with the Securities and Exchange Commission. All forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. Except as required under the federal securities laws and the Securities and Exchange Commission's rules and regulations, we do not have any intention or obligation to update any forward-looking statements publicly, whether as a result of new information, future events, or otherwise.
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SOURCE Kaival Brands
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