IRVINE, Calif., Sept. 19, 2022 (GLOBE NEWSWIRE) — ToughBuilt Industries, Inc. (“ToughBuilt”) (NASDAQ: TBLT; TBLTW)today announced the company’s entry into the category of global market segments for measuring and marking with a feature-rich family of measuring tapes and chalk rolls.
The global market for measuring and marking tools is valued at US$1.4 billion in 2021 and is projected to reach more than US$1.8 billion by 2028*.
ToughBuilt enters this category with both imperial and metric ProBlade™ tape measures, each featuring a heavy-duty, 11-foot, triple-coated, high-contrast nylon blade. outstanding and an intuitive blade control trigger that provides professionals with exceptional one-button control when in use. These products are expected to position ToughBuilt as the immediate standard bearer in this segment, catering to professionals, enthusiasts and do-it-yourself customers. The company’s newest products will be available in October through a leading US home improvement retailer and through ToughBuilt’s growing strategic network of North American and global retail partners and buying communities, serving over 15,500 storefronts worldwide.
Michael Panosian, CEO of ToughBuilt Industries stated, “Our entry into measuring and marking tools allows us to generate new revenue streams from this new category globally, with a range of tapes and chalk rolls that set the benchmark for professional durability.” Panosian continued, “We look forward to expanding the reach of the ToughBuilt brand and gaining additional market share in this more than $1.4 billion product segment.”
* Market Research Guru via MarketWatch.com
ABOUT TOUGHBUILT INDUSTRIES, INC.:
ToughBuilt is an advanced product design, manufacturer and distributor with a focus on innovative products. Currently we focus on tools and other accessories for the professional and do-it-yourself construction industry. We market and distribute diverse lines of home improvement and construction products for both the DIY and professional markets under the TOUGHBUILT brand name within the multi-billion dollar global tool market industry. All of our products are designed by our in-house design team. Since starting product sales in 2013, we have experienced significant annual sales growth. Our current product line consists of three main categories with several additional categories in various stages of development consisting of Soft Goods & Kneepads and Sawhorses & Work Products. Our mission is to provide the building and home improvement communities with products that are innovative and of the highest quality, derived in part from enlightened creativity for our end users, while enhancing performance, enhancing well-being and building strong brand loyalty. For more information about the company, visit: https://www.toughbuilt.com/.
FORWARD LOOKING STATEMENTS
This press release contains “forward-looking statements.” Such statements may be preceded by the words “intend”, “may”, “will”, “plan”, “expect”, “anticipate”, “forecast”, “forecast”, “estimate”, “aim”, “believe”. ‘, ‘hopes’, ‘potential’ or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control and cannot be predicted or quantified, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, without limitation, risks and uncertainties related to (i) the impact of the global COVID-19 pandemic and regulatory measures on our business, (ii) supply chain disruptions, (iii) the market acceptance of our existing and new products , (iv) delays in launching products in key markets, (v) inability to obtain regulatory approvals to sell our products in certain markets, (vi) intense competition in the industry from much larger, multinational companies, (v) product liability claims , (vii) product malfunctions, (viii) our limited manufacturing capabilities and reliance on subcontractors for support, (ix) our efforts to successfully obtain and maintain intellectual property protection for our products, which may not be successful, (x) our dependence on individual suppliers for certain products ktcomponents, (xi) the fact that we will need to raise additional capital to meet our business needs in the future and that such Capi Raising capital may be costly, dilutive or difficult to raise and (xii) the fact that we do business in operate in multiple foreign jurisdictions, exposing us to exchange rate fluctuations, logistical and communications challenges, burdens and costs of complying with foreign laws and political regulations, and economic instability in each jurisdiction. More detailed information about the company and the risk factors that may affect the implementation of forward-looking statements are included in the company’s filings with the Securities and Exchange Commission (SEC), including the company’s annual report on Form 10-K and its quarterly reports on Form 10-Q. Investors and security holders are urged to peruse these documents free of charge on the SEC’s website at http://www.sec.gov. The Company undertakes no obligation to publicly update or revise any of its forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations contact:
KCSA Strategic Communication
Source: ToughBuilt Industries, Inc
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