ToughBuilt Industries Launches Two New Product Lines Globally, Including its First Technology-Enabled Laser
ToughBuilt Industries has launched new laser and level product lines, now available through its global partners serving 14,400 stores. The integrated products are designed for both professional and DIY builders and connect with the ToughBuilt Connect mobile app, allowing easy room measurements and data sharing. CEO Michael Panosian expressed excitement over this technology-enabled innovation, marking it as the first of many planned product launches to disrupt the home improvement market. The company introduced five SKUs for levels and three SKUs for lasers, with e-commerce availability expected in 2022.
- Launch of lasers and levels expands product offerings.
- Integration with ToughBuilt Connect app enhances user experience.
- Products available through partners servicing 14,400 stores increases market reach.
- Expectation of e-commerce launch in 2022 could drive sales growth.
- Risks related to market acceptance of new products.
- Dependence on supply chain and single suppliers may impact production.
ToughBuilt’s new lasers and levels are available to its global partners servicing 14,400 stores
Company’s technology-enabled laser represents first product to be connected to its mobile app, ToughBuilt Connect
LAKE FOREST, Calif., Nov. 30, 2021 (GLOBE NEWSWIRE) -- ToughBuilt Industries, Inc. ("ToughBuilt") (NASDAQ: TBLT; TBLTW), announced today that it has launched two new product lines, ToughBuilt lasers and levels, which are available across its global partners and buying groups servicing 14,400 stores globally. The Company’s patented lasers are fully integrated with its mobile application, ToughBuilt Connect, which allows professional and DIY builders to quickly measure rooms, seamlessly upload information to a smartphone, and create shareable information with the touch of a button.
Michael Panosian, ToughBuilt’s CEO, commented, “We are extremely excited with the launch of our first technology-enabled tool, which is integrated with our mobile app. This was the result of years of research and development and marks the first of many planned new ToughBuilt tools intended to disrupt the home improvement market. To date, we have seen tremendous traction in our product launches, and are confident that these new launches will continue to surpass our customers’ expectations.”
ToughBuilt has initially introduced five unique stock keeping units (“SKUs”) for its line of levels and three SKUs for its line of lasers. The Company has made these lines available for purchase to global partners and expects an e-commerce launch in 2022.
ToughBuilt’s mobile app, ToughBuilt Connect, is available for download in the App Store or Google Play for free.
ABOUT TOUGHBUILT INDUSTRIES, INC.
ToughBuilt is an advanced product design, manufacturer and distributor with emphasis on innovative products. Currently, we are 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 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, (v) product liability claims, (vii) product malfunctions, (viii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (ix) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (x) our reliance on single suppliers for certain product components, (xi) 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 and (xii) 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. 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 as a result of new information, future events or otherwise.
Investor Relations Contact:
KCSA Strategic Communications
David Hanover
toughbuilt@kcsa.com
Source: ToughBuilt Industries, Inc
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