This EU expansion opportunity sounds like it will be huge for charlie's club sales going forward!
MIAMI, FLORIDA – (Marketwired – Sept. 3, 2014) - Charlie’s Club, a subscription-based, members-only electronic cigarette (“e-cigarette”) service wholly-owned by Gilla Inc. (“Gilla” or the “Company”) (OTCQB:GLLA), is pleased to announce that it has entered into a Letter of Intent (the “LOI”) with a European partner for a joint venture to license and market Charlie’s Club in 32 European countries.
“These are exciting times for Charlie’s Club and Gilla,” stated Graham Simmonds, CEO of Gilla, who recently announced the launch of charliesclub.com. “Our new European partner has a substantial e-cigarette background in the EU, along with a wealth of experience managing affiliate programs. This partnership, along with our online subscription model featuring free hardware, will have us taking the European e-cigarette market by storm!”
The LOI stipulates that this will be an exclusive arrangement between the two parties, and that they will be splitting the net revenue of all European sales after costs of goods sold, direct costs and marketing costs on an equal basis.
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