TOUGHBUILT™ Q3 2020 AMAZON GROSS SALES REACHED $2,070,000
ToughBuilt Industries reported gross sales of $2,070,000 for Q3 2020 and $4,500,000 for the nine months ending September 30, 2020, through its U.S. and Canadian Amazon storefronts. CEO Michael Panosian emphasized challenges met with growth, expanding into new markets, and a strategic launch on Amazon that has increased product exposure. The company remains focused on sales from both commercial and private sectors, leveraging Amazon’s marketing capabilities for future growth.
- Q3 2020 gross sales reached $2,070,000.
- Total gross sales for the nine months ended September 30, 2020, were $4,500,000.
- Successful business strategy and market penetration through Amazon.
- None.
Lake Forest , Calif, Nov. 04, 2020 (GLOBE NEWSWIRE) -- ToughBuilt Industries, Inc. (“ToughBuilt” or the “Company”) (NASDAQ: TBLT; TBLTW) today announced gross sales through its U.S. & Canadian Amazon storefronts for the quarter ended September 30, 2020 were
Michael Panosian, Chief Executive Officer of ToughBuilt, commented, “The last 9-months have been challenging but extremely rewarding for ToughBuilt and our partners. Not only have we increased sales, we continue to penetrate new geographical markets and support our customers with timely delivery of products. Our launch last year through our Amazon storefront has been a successful business plan that we believe is strategic in many facets, including but not limited to global market exposure for our products.
We maintain a consistent flow of sales from the commercial and private sectors which we believe will be balanced as we continue to utilize the marketing and far-reaching capabilities of Amazon.com.”
ABOUT TOUGHBUILT INDUSTRIES, INC.
ToughBuilt is an advanced product design, 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 our 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) market acceptance of our existing and new products, (ii) delays in bringing products to key markets, (iii) an inability to secure regulatory approvals for the ability to sell our products in certain markets, (iv) intense competition in the industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) our efforts to successfully obtain and maintain intellectual property protection covering our products, which may not be successful, (ix) our reliance on single suppliers for certain product components, (x) 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 (xi) 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:
Andrew J. Barwicki
Investor Relations
Tel: 516-662-9461
Andrew@barwicki.com
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