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Meet Kaival Brands Innovations Group, Inc. (OTCQB: KAVL), the exclusive worldwide distributor of all products manufactured by Bidi Vapor, LLC. The showpiece they are currently marketing is the Bidi® Stick, this is the only “premium” vapor product on the legal market with an environmentally friendly mass recycling program and is made with medical grade components, a UL certified battery and technology designed to deliver a consistent vaping experience. Thanks to this success, Kaival Brands has now also launched the Bidi® Pouch, a nicotine tray without tobacco.
A deal of unprecedented proportion
Kaival Brands recently entered into an agreement with HT Hackney Co. a leader in convenience store distribution founded over 100 years ago. Thanks to the agreement, Hackney can now stock up on the Bidi® Sticks for distribution. A good development, as Hackney owns over 20 distribution centers in the Southeast and Midwestern United States, which means that at least 25,000 new convenience stores can have the Bidi® Stick and Bidi® Pouch. To put this in a different perspective, in 2020 the Bidi® Stick was available in about 10,000 stores. This makes the new partnership with Hackney the largest distribution agreement Kaival Brands has ever known.
Hackney’s first order of Bidi® Sticks was shipped on January 28, 2021. The new partner will start distributing the Bidi® Stick through its distribution network in no fewer than 22 states, spread across the eastern part of the United States. This development is said to have the potential to triple the total distribution points.
It seems those who do good meet well
Kaival Brands is a company focused on generating shareholder value by incubating innovative products in mature and dominant brands. It does this in a legal and responsible manner. Both Kaival Brands and Bidi Vapor are transparent about the strict adherence to all federal, state and local guidelines and regulations. Kaival Brands is proud to partner with Hackney, which boasts great service standing and history, confirming the Bidi® Stick has the potential to become and remain a true category leader.
In summary, since early 2021 the company has significantly increased the distribution of the Bidi® Stick through national retailers. The total nationwide rollout of 30,000 stores that it had previously set as a target has thus proved to be a realistic goal and there seems to be much more growth possible for Kaival Brands in the remaining months of 2021.
Revenues for the 3 and 6 months ended April 30, 2020 were more than $22 million. In Q3, revenues were $32 million, a remarkable revenue growth of approximately 44% compared to Q2.
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