August 12, 2021
VICTORIA, British Columbia, Aug. 12, 2021 (GLOBE NEWSWIRE) -- CE Brands Inc. (TSXV: CEBI; CEBI.WT) ("CE Brands"),a data-driven consumer-electronics company, and its wholly-owned subsidiary eBuyNow eCommerce Ltd. ("eBuyNow"), are pleased to announce 4 new distribution and retail agreements, in line with the goal to become leaders in manufacturing, brand licensing, and global product distribution.
The retail and distribution agreements cover India, Japan, Central Europe and Eastern Europe:
"CE Brand's objective to achieve 192 product categories in the next 5 years means we need a strong supply chain and an equally strong distribution and retail network," said eBuyNow's Chief Executive Officer and Chairman Craig Smith. "By adding Flipkart in India, Synnex in Japan, GT COMPANY in Europe and Forma in Eastern Europe, we continue to expand our ability to distribute licensed products to end-users in 71 countries around the world. With these additions, our strategy to reach 192 product categories at a minimum of $2mm per category by 2026 is on track, and with these additional partners we plan to increase our minimum peak monthly target from $1mm per product category to $1.15mm."
CE Brands uses internal software to analyze market sales data to ensure that it only begins production in a new category if it believes it has the forecasts and ability with the distribution and retail channels to generate an average of over $1mm a month in gross revenues per product category. With these new distribution and retailer additions, CE brands intends to increase this minimum target to $1.15mm.CE Brands' plans related to category expansion are set out in more detail in the following table:
Further, CE Brands announces the filing of the year end financials of both CE Brands and eBuyNow, which can be found on www.sedar.com.
For more information, please see CE Brands' corporate presentation at www.cebrands.ca.
About CE Brands
CE Brands (TSXV: CEBI; CEBI.WT) develops products with leading manufacturers and iconic brand licensors by utilizing proprietary data that identifies key market opportunities. With sales today in over 70 countries, our innovative, highly repeatable process, which we call the CE Method, has created an optimal growth path for CE Brands to be the premier global licensed brand manufacturer.
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Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable securities legislation. In general, forward-looking information refers to disclosure about future conditions, courses of action, and events. The use of any of the words "anticipates", "believes", "expects", "intends", "plans", "will", "would", and similar expressions are intended to identify forward-looking information. More particularly and without limitation, this press release contains forward looking information concerning CE Brands' five-year brand strategy. The forward-looking information is based on certain key expectations and assumptions more particularly described in the prospectus of CE Brands dated June 3, 2021. Although CE Brands believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because CE Brands cannot give any assurance that they will prove to be accurate. By its nature, forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed in this press release. These risks and uncertainties are more particularly described in the prospectus of CE Brands dated June 3, 2021. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date of this press release, and to not use such forward-looking information for anything other than its intended purpose. CE Brands undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities legislation.
Further Information
For further information about CE Brands or its principal operating subsidiary, eBuyNow, please contact:
Kalvie Legat
Chief Financial Officer
778-771-0901
ir@cebrands.ca