New Products on the way---->> ToughBuilt Industries to Launch New SKUs; Widen Distribution Network
Lake Forest, California--(Newsfile Corp. - March 13, 2020) - ToughBuilt Industries, Inc. (NASDAQ: TBLT) (NASDAQ: TBLTW) ("ToughBuilt") is an innovator within the home improvement and construction products space. The Company designs, develops, manufactures, and distributes a number of innovative products for the building industry in the United States and across the globe. With a core focus on safety, Toughbuilt's key offerings include tool pouches, tool rigs, tool belts and accessories, tools bags, totes, office organizers, laptop bags, cell phone and tablet covers, kneepads, sawhorses, miter saws, table saws, roller stands, and gloves. The Company has a wide distribution of its products across retail outlets, big box stores, professional outlets, e-commerce platforms, as well as direct marketing to construction companies.
The ToughBuilt management is looking to cover every potential product that falls within the umbrella of safety in the construction process. After launching the technology-focused business segment providing mobile solutions, the company is now looking to launch a whole new range of SKUs. It developed over 70 new SKUs in the previous quarter and has a very promising pipeline which includes offerings like thermal imaging, meter testing, and dual laser measurement. The management looks to launch all its innovative offerings after having them jobsite-tested and its goal is to become a market leader in every new category that it is looking to enter with a minimal time-to-market for its new products. It is also looking to expand on its capacity and have a wider distribution in order to grow fast.
The Company is distributing its products through a wide network of online as well as offline retailers. In the United States, its key partners include giants like Lowe's, Home Depot, Walmart, and Menards whereas its key partners in the rest of the world include Leroy Merlin in Europe, Sodimac in Latin America, Kincrome, and Bunnings Warehouse in the United Kingdom, Australia, and New Zealand. The management is also in the process of penetrating second-tier stores such as True Value, Ace, HD Supply, and so on. The Company has access to about 3,400 retail outlets in the United States and is distributing its products in 22 countries as of date. Its online retail strategy is currently focused on Amazon alone but the management is looking to add more online retail partners.
It is worth noting that ToughBuilt caters to a $350 billion home improvement market which grew at more than 5% in 2019. Its target customer base is as high as 12.5 million Americans including construction employees, production employees, and supervisors. The management aims to target professionals like plumbers, electricians, painters, architects, carpenters, building inspectors, surveyors, roofers, and different kinds of contractors to push for direct sale of its products. For more details on the Company, please visit https://www.toughbuilt.com/.
ToughBuilt is a leading designer, manufacturer and distributor of innovative tools and accessories to the building industry. We market and distribute various home improvement and construction product lines for both the do-it-yourself and professional markets under the TOUGHBUILT® brand name, within the global multibillion 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 includes three major categories, with several additional categories in various stages of development, consisting of Soft Goods & Kneepads and Sawhorses & Work Products. Our mission is to provide products to the building and home improvement communities that are innovative, of superior quality derived in part from enlightened creativity for our end users while enhancing performance, improving well-being and building high brand loyalty Additional information about the Company is available at: https://www.toughbuilt.com/.
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