ToughBuilt Industries Expands European Distribution in France and Spain
- ToughBuilt's expansion into La Platforme Du Batiment and Prolians will allow the company to reach a potential 600,000+ customers in France and Spain, opening up new revenue streams and increasing shareholder value.
- None.
- ToughBuilt Products will be sold through French Retailer, La Platforme Du Batiment and Prolians in France and Spain.
- Expanded distribution will provide access to ToughBuilt products to a potential 600,000+ customers, across both retail groups.
IRVINE, Calif., Aug. 08, 2023 (GLOBE NEWSWIRE) -- ToughBuilt Industries, Inc. ("ToughBuilt” or the “Company") (NASDAQ: TBLT; TBLTW) has announced today, the Company is expanding distribution in the European Union with two major retail groups, La Platforme Du Batiment and Prolians, servicing professional customers in France and Spain.
Prolians, a part of the Descours and Cabaud Group, is an expert dealer of construction supplies and provides daily support to professionals from more than 200 trades. Its 450,000 customers1 count on a complete range of supplies and numerous services. ToughBuilt’s expansion into the retailer will include representation in more than 290 storefronts across France and Spain.
La Platforme Du Batiment, a division of the Saint Gobain Group in France, is committed to a
ToughBuilt’s Chief Executive Officer, Michael Panosian, stated “We are pleased to be supplying to La Platforme Du Batiment and Prolians and to build relationships with these highly regarded retail distributors in France and Spain, and further expand our network into new professional-focused storefronts in the European Union. We continue to grow our distribution worldwide, accessing additional new revenue streams with careful steps to build toward greater shareholder value.”
1 Descours & Cabaud, The Group https://www.descours-cabaud-carrieres.com/en/the-group/
ABOUT TOUGHBUILT INDUSTRIES, INC.
ToughBuilt is an innovative, advanced product developer, manufacturer, and distributor with emphasis on innovative products, currently focused on tools and other accessories for the professional and do-it-yourself construction industries. We market and distribute various home improvement and construction product lines for both the do-it-yourself and professional markets under the TOUGHBUILT brand name, within the global multibillion dollar per year tool market industry. All of our products are designed by our in-house design team. Since launching product sales in 2013, we have experienced significant annual sales growth. Our current product line includes three major categories, with several additional categories in various stages of development, consisting of Soft Goods & Kneepads and Sawhorses & Work Products. Our mission is to provide products to the building and home improvement communities that are innovative, of superior quality derived in part from enlightened creativity for our end users while enhancing performance, improving well-being and building high brand loyalty. Additional information about the Company is available at: https://www.toughbuilt.com/.
FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements.” Such statements include, but are not limited to, statements regarding the intended use of proceeds from the offering and may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the impact of the worldwide COVID-19 pandemic and government actions, on our business, (ii) supply chain disruptions, (iii) market acceptance of our existing and new products, (iv) delays in bringing products to key markets, (v) an inability to secure regulatory approvals for the ability to sell our products in certain markets, (vi) intense competition in the industry from much larger, multinational companies, (vii) product liability claims, (viii) product malfunctions, (ix) our limited manufacturing capabilities and reliance on subcontractors for assistance, (x) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (xi) our reliance on single suppliers for certain product components, (xii) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain, (xiii) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction, (xiv) our use of the net proceeds in this offering, and (xv) market and other conditions. More detailed information about the Company and the risk factors that may affect the realization of forward looking statements is set forth in the Company’s filings with the Securities and Exchange Commission (SEC), including the Company’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements because of new information, future events or otherwise, except as required by law.
| Investor Relations Contact: | ||
| KCSA Strategic Communications | ||
| David Hanover | ||
| toughbuilt@kcsa.com | Source: ToughBuilt Industries, Inc |
FAQ
What retail groups is ToughBuilt expanding distribution with in the European Union?
How many customers will ToughBuilt have access to through this expansion?
