CE Brands and eBuyNow Announce Four New Retail and
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:
- A direct vendor relationship between eBuyNow and The Flipkart Group, one of India’s leading digital commerce entities and includes group companies Flipkart, Myntra, and PhonePe. Started in 2007, Flipkart has enabled millions of consumers, sellers, merchants, and small businesses to be a part of India’s e-commerce revolution. With a registered customer base of over 200 million, offering over 150 million products across 80+ categories. Flipkart will begin ranging the Motorola Smartwatch line of products in August 2021 with long term proposals around the new range of Motorola Smartwatches and Wearables for 2021 and beyond.
- An exclusive distribution agreement between eBuyNow and GT COMPANY for Germany, Italy, France, Austria, Netherlands, Belgium and the UK as well as non-exclusive in The Czech Republic, Poland and Hungary. GT COMPANY has grown a powerful distribution network with specialized retailers, e-tailers and mail order companies demonstrating an in-depth knowledge of the market to distribute innovative products. GT COMPANY has completed their initial order and forecasts with eBuyNow and will distribute to its extensive network of European retailers all Kodak products licensed by eBuyNow under the agreement.
- A distribution agreement with eBuyNow and SYNNEX Japan for the Motorola range of branded Smartwatches and Wearables manufactured under the eBuyNow License agreement. SYNNEX Japan is a Japanese subsidiary of SYNNEX Corporation in the United States, SYNNEX Japan provides added value as a “hybrid distributor” by proposing solutions that combine domestic and overseas products and services in order to solve customers’ problems in addition to the conventional wholesale business. SYNNEX Japan has listed immediately the Moto360 in Japan on Amazon.jp and Moto360.jp
- A distribution agreement for the Kodak range of Baby Monitors, Security Cameras and Air Purifiers between eBuyNow and FORMA VS for Albania, Bosnia and Herzegovina, North Macedonia, Bulgaria, Slovenia, Montenegro and Romania, Serbia, Kosovo and Croatia. FORMA VS has completed its initial order and forecasts with eBuyNow and will distribute to their extensive network of Eastern European retailers all Kodak products licensed by eBuyNow under the agreement.
“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:
|Managing demand||Industrializing||Purchasing||Executing||North Star|
|Categories per Factory Average||1||2||3||4||4|
|Total Categories Being Sold||8||24||72||144||192|
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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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.
For further information about CE Brands or its principal operating subsidiary, eBuyNow, please contact:
Chief Financial Officer