An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
CCA Industries, Inc. Announces the Sale of Bikini Zone Brand
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Tags
Rhea-AI Summary
CCA Industries, Inc. has sold its Bikini Zone brand to NFI, LLC for $2,500,000 plus inventory at cost ($243,000). The proceeds will be used to pay off the outstanding line of credit balance ($1,241,000) and for working capital purposes. Internet-based sales in the first nine months of 2023 were over $4.7 million, a 42% increase compared to the same period in fiscal 2022. The company plans to increase internet advertising and focus on high-gross-margin brands to improve profitability.
Positive
Sale of Bikini Zone brand for $2,500,000 plus inventory at cost. Increased internet-based sales by 42% in the first nine months of 2023. Plans to increase internet advertising and focus on high-gross-margin brands.
Negative
None.
FORT WASHINGTON, PA / ACCESSWIRE / October 2, 2023 / CCA Industries, Inc. (OTC Pink:CAWW) has sold its Bikini Zone brand to NFI, LLC effective October 1, 2023. The brand was sold for $2,500,000 plus inventory at cost for an estimated $243,000 and includes all intellectual property pertaining to the Bikini Zone brand. The Company will be using the proceeds to pay off its outstanding line of credit balance of approximately $1,241,000 with the balance to be used for working capital purposes. The Company plans on maintaining the available line of credit. Christopher Dominello, the Company's Chief Executive Officer commented, "This is a good step forward for CCA to recover from the losses of the past few years. We plan on using some of the proceeds to increase our internet advertising which has proven effective. The internet-based sales in the first nine months of 2023 were over $4.7 million compared to approximately $3.3 million for the same period in fiscal 2022, an increase of over 42%. We anticipate having continued growth in this sales channel. We are also taking additional steps to improve profitability including reducing packaging costs and having a greater focus on our brands that have a high gross margin. We believe that the sale of Bikini Zone gives us the working capital flexibility to achieve the goal of returning the Company to profitability and bringing value to the shareholders."
About CCA Industries Inc.
CCA Industries, Inc. manufactures and markets health and beauty aids, each under its individual brand name. The products include, principally, "Plus White" toothpastes and teeth whiteners, "Nutra Nail" nail care treatments, "Porcelana" skin care products, "Scar Zone" scar treatment products, "Sudden Change" anti-aging skin care products, "Hair Off" depilatory products, "Solar Sense" sun care products and "Neutein" brain health supplements which the Company licensed in January 2022.
cca industries, inc. has successfully developed and marketed innovative health and beauty products for more than 20 years. millions of consumers know cca by the brands they buy: plus white® toothpaste and teeth whitening kits, the sudden change® skin care line, nutra nail® manicure products and gel prefect™ 5 minute gel color, and the bikini zone® line of after hair removal remedies and depilatory products. the mega-t® dietary supplement line of effective diet aids utilizes the latest advances in formulations for weight loss, while mega-t® green tea chewing gum and mints offer green tea's antioxidant benefits in a delicious and convenient form. cca also markets the solar sense® line of sun-care products, the cherry vanilla® family of vanilla-based fragrances, hair off® depilatories, wash ’n curl® hair care, scar zone® scar management and first aid products and ipr-3® foot care, as well as shave zone® men's after-shave relief from bumps and irritation. throughout the years, cca ha