LAKE FOREST, Calif., September 23, 2021 (GLOBE NEWSWIRE) – ToughBuilt Industries, Inc. (« ToughBuilt ») (NASDAQ : TBLT ; TBLTW), today announced that several major home improvement retailers will carry ToughBuilt products in nearly 500 stores across France. ToughBuilt’s new retail customers include well-recognized national and multinational chains including Toolstation, Setin Group and Gedimat.
Michael Panosian, CEO of ToughBuilt, said: “ToughBuilt continues to gain market share in Europe, successfully entering some of the fastest growing and largest home improvement chains. France is a multi-billion dollar market, representing a significant opportunity for ToughBuilt, which we believe will strengthen our relationships with international retailers and allow us to build brand awareness among professional contractors and DIY consumers.
Toolstation, a multinational home improvement chain in France, currently offers 23 ToughBuilt SKUs, which are expected to grow to 50 SKUs by the end of the year. Setin Group, a hardware and tooling chain, currently carries 26 best-selling ToughBuilt products. Gedimat, a leading national group of independent home improvement retailers, will carry ToughBuilt’s entire product catalog and begin stocking ToughBuilt SKUs in October.
ABOUT TOUGHBUILT INDUSTRIES, INC.
ToughBuilt is a leading product designer, manufacturer and distributor with a focus on innovative products. Currently focused on tools and other accessories for the professional construction and DIY industries. We market and distribute various lines of home improvement and construction products for the DIY and professional markets under the TOUGHBUILT brand, within the global multi-billion 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 consists of three main categories, with several additional categories in various stages of development, including soft items and knee pads and sawhorses and work products. Our mission is to provide the building and home improvement communities with innovative, high-quality products, derived in part from enlightened creativity for our end users, while improving performance, well-being and brand loyalty. Additional information about the Company is available at: https://www.toughbuilt.com/.
This press release contains “forward-looking statements”. Such statements may be preceded by the words “intention”, “may”, “will”, “plans”, “expects”, “plans”, “projects”, “predicts”, “estimates”, “aims”. , “Esteem”, “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 control of the Company, and cannot be predicted or quantified and, by Therefore, actual results may differ materially from those expressed or implied by these forward-looking statements. These risks and uncertainties include, without limitation, the risks and uncertainties associated with (i) market acceptance of our existing and new products, (ii) delays in introducing products into key markets, (iii) an inability to obtain regulatory approvals for the ability to sell our products in certain markets, (iv) intense competition in the industry from much larger multinational companies, (v) liability claims due to product failures, (vi) product malfunctions, (vii) our limited manufacturing capabilities and use of sub-contractors for support, (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 s to meet our business needs in the future and that such raising of capital may be costly, dilutive or difficult to obtain and (xi) the fact that we operate in several foreign jurisdictions, exposing us to fluctuations in rates exchange rates, logistics 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 are presented in the documents filed by the company with the Securities and Exchange Commission (SEC), including the annual report of the company on the 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 website 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.
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Source : ToughBuilt Industries, Inc