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."
https://www.globenewswire.com/news-release/2021/08/12/2279847/0/en/CE-Brands-and-eBuyNow-Announce-Four-New-Retail-and-Distribution-Agreements-and-Filling-of-Year-End-Financial-Statements.html