5 yr settlement consists of unique distribution partnership
BALTIMORE, April 08, 2020 (GLOBE NEWSWIRE) — Slinger Bag Inc. (OTC: SLBG), a sports activities model targeted on innovating recreation enchancment tools for all ball sports activities (“Slinger Bag” or “Firm”), with an preliminary deal with the worldwide tennis market, has introduced its inaugural world distribution settlement with the main Japanese sporting tools distributor, Globeride Inc.
The partnership names Globeride Inc. because the unique distributor of Slinger Bag merchandise within the Japanese market together with its new Slinger Launcher Bag – a serious innovation within the world tennis market. Globeride plans to launch the Slinger Bag model to Japanese shoppers from July 2020.
Tennis is rising at a critical pace throughout Asia and Japan is acknowledged because the second largest world marketplace for the game with over 3 million gamers – a market which additionally consists of Delicate Tennis. Statistics reveal that there are 1.3 million avid tennis gamers, those that play weekly, and Globeride has demonstrated its religion within the Slinger Bag by committing to seize at the least 2.5% of this Japanese avid participant group over the period of the five-year settlement, which equates to a minimal buy order of 32,500 Slinger Launcher Luggage.
The deal will see Globeride market Slinger Bag via a mix of an aggressive on-line, direct-to-consumer enterprise concentrating on gamers and coaches; via its in depth community of tennis wholesalers and retailers and thru Japanese faculties, universities and related governing our bodies of tennis throughout Japan. This can allow Slinger Bag to activate its world model plan and to construct on the success it has already seen in its Kickstarter© and Indiegogo© crowdfunding campaigns, which had been the very best grossing sports activities product campaigns ever launched thus far.
Slinger Bag CEO Mike Ballardie says: “We’re delighted to be aligning Slinger Bag with the main sports activities tools distribution firm in Japan. Globeride Inc, with their 40+ yr expertise within the Japanese tennis market, will unlock the door to entry the all-important common tennis gamers market, facilitating our capacity to deliver our market-changing merchandise to a nation of tennis gamers and followers.
“In my earlier function as CEO of Prince, I labored intently with the Globeride staff to drive income and market share in one of many world’s largest and most energetic tennis markets. I do know first-hand that Globeride’s vastly skilled tennis division’s administration will drive long-term progress and success for the Slinger Bag model, beginning by constructing a strong grassroots basis of instructing professionals and tennis influencers. Globeride’s dedication to Slinger Bag, as a brand new model available in the market, over a five-year time period demonstrates a big stamp of approval for the Slinger Bag model and our merchandise. We’re excited to be embarking on a journey with our new distribution companion to ship our imaginative and prescient of stimulating elevated participation in tennis by making it extra accessible for gamers and followers, no matter age or capacity.”
Kazunari Suzuki, President at Globeride Inc. mentioned: “We’ve been extraordinarily impressed by Slinger Bag. Our market testing over the previous 4 months opened our eyes to a brand new product class in tennis which is usually a really conventional sport. The Globeride household holds out nice hope for the long-term success of Slinger Bag merchandise with Japanese gamers of all ages and talents. The Slinger Launcher Bag is unrivalled within the tennis business. With its top quality specification mixed with its inexpensive retail worth we’re assured that the Slinger Launcher Bag can change the sport for the higher and that we are going to see fast adoption of Slinger Bag merchandise by the worldwide tennis group, beginning right here in Japan.”
Based in 1958, Globeride Inc. (7990.T) is listed on the Tokyo Inventory Change. Globeride is a number one producer of fishing sort out, via Daiwa® and of golf tools via OnOff® and others with gross sales and distribution operations throughout the globe. Globeride can be the unique licensee for Prince® for all racquet sports activities classes and is the unique distributor for Corratec® and different cycle manufacturers in Japan.
To find extra on Slinger Bag, go to https://slingerbag.com
About Slinger Bag®
Slinger® is a brand new sports activities model targeted on delivering revolutionary, recreation enchancment applied sciences and tools throughout all Ball Sport classes. With the imaginative and prescient to turn out to be a next-generation sports activities shopper merchandise firm, Slinger® enhances the ability and pleasure ranges of gamers of all ages and talents. Slinger® is initially targeted on constructing its model inside the world Tennis market, via its Slinger® Tennis Ball Launcher and Equipment. Slinger® has underpinned its proof of idea with over $1 Million in gross sales of its Tennis Ball Launcher. Led by CEO Mike Ballardie (former Prince CEO and Wilson EMEA racquet sports activities government) Slinger® is now primed to proceed to disrupt what are conventional world markets with its patented, extremely transportable and inexpensive Slinger® Launcher.
Slinger Bag Disclaimer:
Protected Harbor Assertion below the Non-public Securities Litigation Reform Act of 1995. Statements on this press launch that aren’t strictly historic are “forward-looking” statements inside the that means of Part 27A of the Securities Act of 1933, as amended and Part 21E of the Securities Change Act of 1934, as amended. These statements contain a excessive diploma of danger and uncertainty, are predictions solely and precise occasions or outcomes could differ materially from these projected in such forward-looking statements. Components that might trigger or contribute to variations embody the uncertainty relating to viability and market acceptance of the Firm’s services, the power to finish software program improvement plans in a well timed method, adjustments in relationships with third events, product combine bought by the Firm and different components described within the Firm’s most up-to-date periodic filings with the Securities and Change Fee, together with its 2019 Annual Report on Kind 10-Ok and quarterly experiences on Kind 10-Q.
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