Slinger Bag Enters China Market through Partnership with Powerway Sports
Slinger Bag (SLBG) has launched its innovative ball launcher in China through a five-year partnership with Powerway Sports. Sales will commence in September, targeting the growing tennis market with approximately 8 million players. Powerway Sports has extensive experience as China’s top supplier of tennis balls and aims to leverage its connections to promote the Slinger Bag. The Chinese tennis market is valued at over US$2 billion annually. With global revenues projected to reach US$250 million within five years, Slinger is poised for significant growth.
- Strategic five-year partnership with Powerway Sports for distribution in China.
- Expected consumer sales launch in September, targeting a market of 8 million regular tennis players.
- Powerway Sports is a leading distributor with proven success in the Chinese sports market.
- Chinese tennis market valued at over US$2 billion annually, indicating strong growth potential.
- Projected cumulative consumer revenues of US$250 million over the next five years.
- None.
Tennis continues to deliver significant growth and investment in China and Slinger will be bringing its innovative Slinger Bag ball launcher to the Chinese market with Powerway Sports
BALTIMORE, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Slinger Bag (OTCQB: SLBG) ("Slinger" or the "Company"), a sports brand focused on innovating game improvement technology and equipment, with the vision to become a connected sports company, is announcing today its launch into the Chinese market via a five-year distribution partnership with Shanghai and Xiamen-based Powerway Sports (PWS). Under the terms of the deal, PWS will be exclusive distributor for Slinger of the Slinger Bag ball launcher, as well as for related Slinger branded accessories.
PWS was founded in 1999 and for the past two decades has been a leader in the Chinese tennis and sports markets. PWS’s extensive tennis experience includes working with global brands such as Dunlop, Wilson and Slazenger, and in 2020 PWS were the #1 supplier of tennis balls across the Chinese market. PWS is also the exclusive distribution partner for Bridgestone Golf and ASICS footwear.
Consumer sales of the Slinger Bag in China will begin in September through a comprehensive launch campaign across multiple e-commerce platforms. Tennis is now a leading participation sport with approximately 8 million people in China playing regularly (up from 1M in 1988) and with over 25,000 tennis courts across China. The Chinese tennis market is estimated to be worth in excess of US
“We are delighted to be joining the Slinger Bag success story at such an exciting time both for tennis in China and for Slinger as a new brand in global tennis. We are anticipating a very high demand for the Slinger Bag ball launcher in the Chinese market,” said Peter Chang, owner of PWS. “An extensive, multi-dimensional launch marketing program is planned along with significant grassroots activities. We believe that when players and coaches try the Slinger Bag they will quickly appreciate the game-changing potential of this incredible product. With our extensive history within the China tennis industry and our many existing partnerships with leading Chinese tennis coaches, academies and particularly with the China Tennis Association, our aim is to introduce all avid tennis players to the Slinger brand and the Slinger Bag launcher as quickly as we can starting in September this year.”
Enthusiasm for tennis in China has been fueled over the years by the successes of a number of breakthrough Chinese tennis stars including Peng Shuai and Li Na, who became China’s first Grand Slam Champion in 2011. The Men’s and Women’s China tour swing now includes 4 ATP events and 8 WTA events, underlining the significance of the China tennis market to the overall future growth and prosperity of the sport itself.
Slinger Bag is now represented in over 60 markets globally across 6 continents with expected cumulative consumer revenues now closing in on US
“China is a massive and growing tennis market and as a new tennis brand we are thrilled to have found such a strong and experienced partner in Powerway Sports,” said Mike Ballardie, CEO of Slinger. “Their market experience as a distributor is unequalled, and they share our enthusiasm and belief in the market potential of Slinger in China. We look forward to working closely with the team at PWS for the launch of Slinger through an extensive investment program incorporating marketing, promotion and local social media activities with the objective to put the Slinger Bag in front of all core tennis players across the country.”
The Slinger Bag is available to order now - to find out more about Slinger Bag, visit https://slingerbag.com.
ENDS
For Slinger Investor Relations inquiries visit www.slingerbagir.com, or contact investors@slingerbag.com or 443-407-7564
For Slinger media enquiries in U.K, Europe and Australia contact the UK Press Office, Joe Murgatroyd, Press@slingerbag.com, at Brandnation, +44(0)207 940 7294
For Slinger media enquiries in U.S & Canada contact the US Press Office, Brigid Margeson, bmargeson@uproarpr.com, at Uproar PR, 415.939.8779
Slinger Legal Counsel: Kalfa Law. Contact: shira@kalfalaw.com
About Slinger®: Slinger® is a new sports brand focused on delivering innovative, game improvement technologies and equipment across all ball sport categories. With the vision to become a leading connected sports company, Slinger® enhances the skill and enjoyment levels of players of all ages and abilities. Slinger® is initially focused on building its brand within the global tennis market, through its Slinger Bag® Tennis Ball Launcher and Accessories. Slinger Bag® has underpinned its proof of concept with over
About Powerway Sports: Powerway Sports is a leading distributor of Sporting goods in China. Having seen initial success in distributing Dunlop they then built up a very successful business for Wilson who, as a result, ultimately moved their business model to a subsidiary operation with PWS moving back to distribute Dunlop and Slazenger in 2014. Today PWS distributes Dunlop, Slazenger, Carlton, Bridgestone Golf and Asics Footwear. PWS is currently the leading supplier of Tennis Balls to the Chines Tennis Market.
Slinger Disclaimer: Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve a high degree of risk and uncertainty, are predictions only and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company’s products and services, the ability to complete development plans in a timely manner, changes in relationships with third parties, product mix sold by the Company and other factors described in the Company’s most recent periodic filings with the Securities and Exchange Commission, including its 2019 Annual Report on Form 10-K and quarterly reports on Form 10-Q.
Forward-Looking Statements: This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company's product development, clinical and regulatory timelines, market opportunity, competitive position, possible or assumed future results of operations, business strategies, potential growth opportunities and other statement that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management's current beliefs and assumptions.
These statements may be identified by the use of forward-looking expressions, including, but not limited to, "expect," "anticipate," "intend," "plan," "believe," "estimate," "potential, "predict," "project," "should," "would" and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company's filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
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