Victory Marine Holdings Going Full Throttle After Launching Strategic Alliance With Premium Boat Builder Robalo/Chaparral in 2020

Rhea-AI Summary

Victory Marine Holdings (OTC PINK:VMHG) has announced a strategic alliance with Chaparral and Robalo Boats, enhancing their presence in the marine industry. This partnership positions VMHG as the exclusive distributor for these premium brands in Costa Rica. The alliance aims to leverage Chaparral and Robalo's strong market share in both luxury and recreational boating sectors. Despite challenges in 2020, sales inquiries have surged as restrictions ease, prompting optimism for increased sales in 2021.

Positive

• Exclusive distribution rights for Chaparral and Robalo boats in Costa Rica.
• Partnership with established brands known for premium watercraft products.
• Increased sales inquiries as Covid restrictions are lifted.

Negative

• None.

MIAMI, FL / ACCESSWIRE / February 17, 2021 / Victory Marine Holdings (OTC PINK:VMHG) continues to remain steadily on course with the announcement of its recent strategic alliance developed with premium boat builder Chaparral and Robalo Boats, a wholly owned subsidiary of Marine Products Corporation (MPX).

"It has been a remarkable time for us," says Orlando Hernandez of Victory Marine Holdings. "It was impossible not to be affected by the global tragedy unfolding before us daily. Yet, with dedicated focus and determination, we are now positioned to take full advantage of the coming economic resurgence."

2020 presented wide-ranging challenges, encompassing restrictions on travel, commerce, and business development. Our association with Chaparral and Robalo will open the door to unlimited growth potential in 2021 and beyond:

• Chaparral and Robalo Boats is a well-recognized and respected brand in the marine industry. They are known for premium watercraft products popular with luxury boaters and the recreational boating market.

• In addition to the luxury marine market, Chaparral and Robalo enjoys significant market share with their outboard pleasure boats, outboard sport deck boats, Vortex jet boats, and Robalo outboard sport fishing boats.

• Victory Marine Holdings will be the sole and exclusive distributor for Chaparral and Robalo boats in Costa Rica.

• Even as Covid restrictions were in place for most of 2020, they were able to create sales. As restrictions have been lifted, inquiries have increased, and all expectations indicate sales will rise accordingly.

• Chaparral and Robalo are two of the most respected names in boat building whose history of stability, innovation, and success is the power propelling them to the forefront of the boating industry worldwide.

About Victory Marine Holdings

Victory Marine Holdings (OTC:VMHG), is a recreational marine provider seeking to bring the best product and best service in different areas of this amazing industry. We are focused on providing our client a one stop experience in all their recreational marine needs from new and used boats to financing, insurance, documentation, and accessories. To view our inventory, please visit https://www.victoryyachts.com/

Forward-Looking Statements.

Forward-Looking Statements certain statements in this release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified using words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors. We assume no obligation to update the information contained in this news release.

Contact Information:

Orlando Hernandez
Victory Marine Holdings
www.VictoryYachts.com
(800) 317-2441

SOURCE: Victory Marine Holdings Corp.

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https://www.accesswire.com/630221/Victory-Marine-Holdings-Going-Full-Throttle-After-Launching-Strategic-Alliance-With-Premium-Boat-Builder-RobaloChaparral-in-2020

FAQ

What is the strategic alliance announced by Victory Marine Holdings?

Victory Marine Holdings has formed a strategic alliance with Chaparral and Robalo Boats, becoming their exclusive distributor in Costa Rica.

How will the partnership with Chaparral and Robalo Boats impact VMHG?

The partnership aims to boost sales and market presence for VMHG in the luxury and recreational boating sectors.

What market share do Chaparral and Robalo Boats have?

Chaparral and Robalo Boats hold significant market share in the outboard pleasure boats and sport fishing segments.

How did Covid restrictions affect Victory Marine Holdings in 2020?

Despite 2020 challenges, VMHG managed to create sales and is now witnessing an increase in inquiries as restrictions ease.