LOS ANGELES - AXIL Brands, Inc. (NYSE American: AXIL), known for its AXIL hearing protection and enhancement products, has entered into a distribution agreement with Terrang MP-Sec France, a supplier of products to authorities and government agencies. The deal grants Terrang MP-Sec France exclusive rights to distribute AXIL's portfolio in several European countries, including France, Belgium, and Italy.
The distribution agreement encompasses AXIL's range of hearing performance systems, such as the GS Extreme 2.0®, XCOR®, XCOR Digital®, and the Trackr™ series. According to AXIL CEO Jeff Toghraie, this partnership is a strategic move to "strengthen and expand our distribution network within the EU" and is expected to drive growth and enhance customer support in the region.
Terrang MP-Sec France holds a significant position in the military, police, and security sectors, which may provide AXIL with a robust channel to market its hearing protection products.
AXIL, also the creator of Reviv3® hair and skin care products, operates a global e-commerce consumer products business. The company markets its products across the United States, Canada, the European Union, and Asia.
The press release also contained forward-looking statements regarding AXIL's expectations for sales growth and operational performance. However, it noted that these projections are subject to risks and uncertainties that could cause actual results to differ materially. These include the company's ability to generate sufficient revenue, competition, customer concentration, regulatory changes, and broader economic conditions such as inflation, potential recessions, and geopolitical events.
Investors are advised that the information discussed in the forward-looking statements has inherent risks and that AXIL does not undertake any obligation to update these statements based on subsequent events or new information.
This news article is based on a press release statement from AXIL Brands, Inc.
"In other recent news, Axil Brands, a personal care industry player, has announced significant changes in its operations. The company's Board of Directors has approved the relocation of its principal executive offices from Alhambra, California, to Beverly Hills, effective November 1, 2024. The move, as detailed in a recent 8-K filing with the Securities and Exchange Commission, is part of the company's evolution of its business operations.
In addition to the relocation, Axil Brands has entered into a sales representative agreement with Fuel Medical Group, a nationwide business advisory firm. The partnership aims to expand the distribution of Axil's hearing performance products, including the GS Extreme 2.0®, XCOR®, XCOR Digital®, and Trackr™ series, through Fuel's extensive network. This collaboration is expected to provide Fuel's over 3,000 affiliated locations with access to Axil's product line.
These are recent developments in Axil's operations, demonstrating the company's strategic changes and partnerships aimed at expanding its product distribution."
InvestingPro Insights
AXIL Brands, Inc. (NYSE American: AXIL) has shown some promising financial metrics that align with its recent strategic move to expand distribution in Europe. According to InvestingPro data, AXIL boasts impressive gross profit margins of 72.31% for the last twelve months as of Q1 2023, indicating strong pricing power for its hearing protection and enhancement products. This high margin could provide the company with financial flexibility as it expands into new markets through the Terrang MP-Sec France partnership.
An InvestingPro Tip highlights that AXIL holds more cash than debt on its balance sheet, which could be advantageous as the company seeks to grow its presence in the European market. This solid financial footing may allow AXIL to invest in marketing and support for its new distribution channels without taking on excessive risk.
Another relevant InvestingPro Tip notes that AXIL's stock price often moves in the opposite direction of the market. This characteristic could be of interest to investors looking for diversification in their portfolios, especially given the company's expansion into new geographical markets.
It's worth noting that InvestingPro offers 11 additional tips for AXIL, providing a more comprehensive analysis for investors interested in deeper insights into the company's financial health and market position.
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