AXIL Announces Sales Representative Agreement with Fuel Medical Group
Rhea-AI Summary
AXIL Brands, Inc. (NYSE American: AXIL) has announced a non-exclusive sales representative agreement with Fuel Medical Group, a leading business advisory company for audiology and ENT practices. Under this agreement, Fuel will sell and promote AXIL's hearing performance product line through its affiliated network.
The partnership will make AXIL products available on various platforms, with affiliates benefiting from Fuel's practice support benefits. This collaboration aims to expand AXIL's presence in the commercial market by leveraging Fuel's national presence and strategic footprint. Fuel's network includes over 3000 affiliated locations, which will now have access to AXIL's product line of hearing protection.
Positive
- Non-exclusive sales representative agreement with Fuel Medical Group
- Expansion of AXIL's product offerings to the commercial market
- Access to Fuel's network of over 3000 affiliated locations
- Potential for increased sales and market presence
Negative
- None.
News Market Reaction – AXIL
In the trading session that priced this news, AXIL declined 11.11%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
LOS ANGELES, July 31, 2024 (GLOBE NEWSWIRE) -- AXIL Brands, Inc. (“AXIL,” “we,” “us,” “our,” or the “Company”) (NYSE American: AXIL), an emerging global consumer products company for AXIL® hearing protection and enhancement products and Reviv3® hair and skin care products, today announced a non-exclusive sales representative agreement (“Agreement”) with Fuel Medical Group (“Fuel”), a leading business advisory company serving audiology, ear, nose and throat practices across the nation.
Under the Agreement, Fuel intends to sell and promote AXIL’s lineup of hearing performance product line, which includes GS Extreme 2.0®, XCOR®, XCOR Digital®, and the Trackr™ series hearing solutions through its affiliated network. AXIL products will be available in various platforms and affiliates will benefit from Fuel’s practice support benefits including group purchasing, strategy alignment, staff training and development.
“This relationship will further expand AXIL’s offerings to the commercial market by leveraging Fuel’s national presence and strategic footprint,” said Tyler Smith, National Director of Sales of AXIL Brands. “Fuel is an innovative market leader with a top-tier team, and we are extremely pleased to welcome them to our family of sales representative partnerships.”
“Fuel is happy to announce our partnership with Axil and give our more than 3000 affiliated locations access to Axil’s superior product line of hearing protection,” said Brendan Ford, co-founder of Fuel Medical Group.
About Fuel
As the leading business advisory company serving audiology and ear, nose and throat practices across the nation, Fuel Medical Group provides an award-winning array of custom insights, tools and actionable solutions that enhance practice performance and impact patient outcomes.
About AXIL
AXIL (NYSE American) is an emerging global consumer products company. The Company is a manufacturer and marketer of premium hearing enhancement and protection products, including ear plugs, earmuffs, and ear buds, under the AXIL® brand and premium hair and skincare products under its in-house Reviv3 Procare brand - selling products in the United States, Canada, the European Union and throughout Asia. To learn more, please visit the Company's website at www.reviv3.com and, for the AXIL® brand, visit www.axilbrands.com.
Forward-Looking Statements
This press release contains a number of forward-looking statements within the meaning of the federal securities laws. The use of words such as “believe,” “expect,” “continue,” “will,” “intends”, “prepare,” “should,” and ”focus,” among others, generally identify forward-looking statements. These forward-looking statements are based on currently available information, and management’s beliefs, projections, and current expectations, and are subject to a number of significant risks and uncertainties, many of which are beyond management’s control and may cause the Company’s results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things: (i) the Company’s ability to grow net sales as anticipated and perform in accordance with guidance; (ii) our ability to generate sufficient revenue to support the Company’s operations and to raise additional funds or obtain other forms of financing as needed on acceptable terms, or at all; (iii) potential difficulties or delays the Company may experience in implementing its cost savings and efficiency initiatives, including integrating the AXIL® brand; (iv) the Company’s ability to compete effectively with other hair and skincare companies and hearing enhancement and protection companies; (v) the concentration of the Company’s customers, potentially increasing the negative impact to the Company by changing purchasing or selling patterns; (vi) changes in laws or regulations in the United States and/or in other major markets, such as China, in which the Company operates, including, without limitation, with respect to taxes, tariffs, trade policies or product safety, which may increase the Company product costs and other costs of doing business, and reduce the Company’s earnings; and (vii) the impact of unstable market and general economic conditions on the Company’s business, financial condition and stock price, including inflationary cost pressures, the possibility of an economic recession and other macroeconomic factors, geopolitical events, and uncertainty, decreased discretionary consumer spending, supply chain disruptions and constraints, labor shortages, ongoing economic disruption, including the effects of the Ukraine-Russia conflict and the Israel-Hamas conflict, and other downturns in the business cycle or the economy. There can be no assurance as to any of these matters, and potential investors are urged to consider these factors carefully in evaluating the forward-looking statements. Other important factors that may cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company’s filings with the U.S. Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Except as required by law, the Company does not assume any obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.
Investor Relations:
AXIL Investor Relations Team
(888) 638-8883
investors@axilbrands.com
