Slinger Bag Hits Record US D2C Monthly Sales

Rhea-AI Summary

Slinger Bag (OTCQB: SLBG) has achieved remarkable growth with direct consumer sales surpassing $1.1M in April 2021, marking its strongest monthly performance to date. The innovative tennis ball launcher, launched in mid-2020, is now distributed in over 45 countries with projected global distribution deals worth $200M over five years. The company's targeted marketing strategy has significantly reduced customer acquisition costs by fivefold. Expect continued strong demand as markets rebound from the pandemic, boosting both domestic and global sales.

Positive

• Direct consumer sales exceeded $1.1M in April 2021, the highest monthly performance so far.
• Global distribution agreements are valued at over $200M in cumulative consumer value over the next five years.
• Significantly reduced customer acquisition costs by nearly five times since launch.

Negative

• None.

• Strong sales fueled by successful targeted marketing strategy
• High demand expected to continue into the summer months
• Company continues global expansion while refining its direct to consumer market penetration domestically
  

BALTIMORE, May 05, 2021 (GLOBE NEWSWIRE) -- Slinger Bag (OTCQB: SLBG), a sports brand launched in mid-2020 and focused on innovating game improvement equipment for all ball sports with an initial focus on the global tennis market, has reached a significant sales landmark with its first product, the Slinger Bag. The Slinger Bag is the world’s most portable ball launcher, a product that has taken the world of tennis by storm.

In April 2021, less than one year from its launch, the company recorded direct to consumer sales in excess of $1.1M for the US market – its strongest ever monthly performance. The sales are not inclusive of the company’s global distribution channels, and only account for its US direct to consumer channel. According to the company, sales look likely to continue on this trajectory as the summer approaches and a number of important markets start to emerge from the global pandemic. It’s important to note that sales numbers are preliminary, unaudited and subject to change due to returns, fees and accounting adjustments.

“The rapid growth of Slinger Bag has been phenomenal. The reception and adoption of the Slinger Bag as an essential training tool for all levels of tennis players is evident in our numbers. Orders have accelerated, and achieving this milestone is also set to benefit our global distribution partners.” says Juda Honickman, Slinger Bag’s Chief Marketing Officer. “We have been able to fine tune our marketing since launch, significantly reducing our cost of acquisition by nearly five fold when we started in July 2020. This has been achieved by investing in a highly targeted, multi-channel marketing approach, including brand ambassador activation, micro-influencer activity and the recruitment of a significant number of brand advocates who have facilitated growth and helped build a brand community through personal word of mouth, or via online and social media.”

Since launch, the Slinger Bag ball launcher has secured distribution in over 45 countries worldwide across six continents and its global distribution deals are worth over $200M in cumulative consumer value over the next five years. Continuous acclaim from key media such as Forbes, The Wall Street Journal, Fox Business, Financial Times and WIRED has helped fuel global growth and recognition, as sales and growth targets have continually been surpassed where Slinger Bag is sold around the world. High profile commercial tie-ins with key industry players in the tennis market such as Dunlop and Wilson have also helped Slinger Bag establish itself as a significant sports technology player in the tennis industry. Credible influencer associations with top players such as Tommy Haas, the Bryan brothers and legendary coach Nick Bolettieri have served to underscore the new brand’s credibility and intent.

The Slinger Bag is available to order now - to find out more about Slinger Bag, visit https://slingerbag.com.

ENDS

For Investor Relations inquiries visit www.slingerbagir.com or contact investors@slingerbag.com or 443-407-7564

For U.K, Europe, New Zealand and Russia contact the UK Press Office, Joe Murgatroyd, Press@slingerbag.com, at Brandnation, +44(0)207 940 7294

For Slinger Bag media enquiries in U.S & CANADA contact the US Slinger Bag Press Office, Brenna Byrne at UpRoar PR, bbyrne@uproarpr.com 312-607-8117.

Slinger Bag Legal Counsel: Kalfa Law. Contact: shira@kalfalaw.com

About Slinger Bag^®: About Slinger Bag^®: 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 next-generation sports consumer products 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^® Tennis Ball Launcher and Accessories. Slinger Bag^® has underpinned its proof of concept with over $200M of retail value in global distribution agreements since the Spring of 2020. Led by CEO Mike Ballardie (former Prince CEO and Wilson EMEA racquet sports executive) Slinger^® is now primed to continue to disrupt what are traditional global markets with its patented, highly transportable and affordable Slinger^® Launcher.

Slinger Bag 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.

FAQ

What were Slinger Bag's sales figures for April 2021?

Slinger Bag reported direct consumer sales exceeding $1.1M in April 2021, its strongest monthly performance.

What is the stock symbol for Slinger Bag?

The stock symbol for Slinger Bag is SLBG.

How many countries does Slinger Bag distribute its products in?

Slinger Bag has secured distribution in over 45 countries worldwide.

What is the projected value of Slinger Bag's global distribution deals?

Slinger Bag's global distribution agreements are projected to be worth over $200M in cumulative consumer value over the next five years.

What marketing strategies has Slinger Bag implemented to boost sales?

Slinger Bag has implemented a targeted, multi-channel marketing strategy that includes brand ambassador activation and micro-influencer activity.