Ispire Technology Expands Global Reach through 5-Year Master Distributor Agreement with ANDS for MENA and Global Duty-Free Markets
Rhea-AI Summary
Ispire Technology Inc. (NASDAQ: ISPR) has entered a five-year master distributor agreement with ANDS, a Dubai-based distributor, to expand its global reach. This partnership will bring Ispire's Hidden Hills Club nicotine portfolio to the Middle East, North Africa (MENA) region, and Global Duty-Free markets.
The collaboration covers 20+ MENA markets and provides access to more than 45 airports, cruise ships, airlines, and diplomatic facilities through ANDS' partnerships with major duty-free operators. This strategic move aims to meet the growing demand for harm-reduced alternatives to combustible cigarettes in one of the world's fastest-growing regions for alternative nicotine products.
The partnership leverages ANDS' expertise in regulatory, legal, compliance, brand building, sales, and distribution, along with local market insights, to position Ispire's products effectively in these new markets.
Positive
- Five-year master distributor agreement with ANDS expands Ispire's global reach
- Access to 20+ MENA markets and Global Duty-Free locations
- Partnership provides entry to more than 45 airports, cruise ships, airlines, and diplomatic facilities
- Tapping into one of the fastest-growing markets for alternative nicotine products
- Leveraging ANDS' expertise in regulatory compliance, brand building, and distribution
Negative
- None.
News Market Reaction
On the day this news was published, ISPR gained 5.12%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Under the agreement, Ispire and ANDS will commercialize the Hidden Hills Club brand across 20+ MENA markets, leveraging ANDS' extensive partnerships with major duty-free operators, providing access to more than 45 airports, cruise ships, airlines and diplomatic facilities.
"This collaboration is a pivotal moment for Ispire as we continue to expand our global footprint at a time when consumers are looking for harm-reduced products to transition away from combustible cigarettes," said Michael Wang, Co-Chief Executive Officer of Ispire Technology. "By partnering with ANDS, we gain access to one of the fastest-growing regions in the world, where smoking rates remain high, but there is a significant demand for harm-reduced products. With ANDS' robust regulatory, legal, compliance, brand building, sales and distribution expertise as well as local market insights, we are well-positioned to bring the Hidden Hills Club nicotine portfolio to new markets, offering consumers innovative, harm-reduction alternatives to combustible cigarettes."
"We are thrilled to collaborate with Ispire to bring the Hidden Hills Club nicotine products and their marketing power to the MENA region and Global Duty-Free markets," said ANDS Co-Founder and CEO Fadi Maayta. "With Ispire's cutting-edge products and our extensive reach and expertise, we are confident that this partnership will provide consumers with innovative nicotine delivery solutions that will bring potentially reduced risk products to adult smokers. Together, we aim to meet the evolving needs of consumers in the region while ensuring compliance with local laws and regulations."
The MENA region is one of the fastest-growing markets for alternative nicotine products, where harm reduction is becoming increasingly important. Through this partnership, Ispire and ANDS will offer a comprehensive range of products, including vape devices and nicotine pouches, tailored to meet local demand and preferences.
About ANDS
ANDS is an institution dedicated to the goal of switching adult smokers to potentially reduced-risk products. Utilizing decades of combined experience in Tobacco, Electronic Nicotine Delivery Solutions, Heated Tobacco products, and FMCG, affirming that adult smokers are entitled to better alternatives than continuing to smoke conventional cigarettes.
About Ispire Technology Inc.
Ispire is engaged in the research and development, design, commercialization, sales, marketing and distribution of branded e-cigarettes and cannabis vaping products. The Company's operating subsidiaries own or license more than 200 patents worldwide. Ispire's branded e-cigarette products are marketed under the Aspire name and are sold worldwide (except in the
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act") as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "would," "could," "seek," "intend," "plan," "goal," "project," "estimate," "anticipate," "strategy," "future," "likely" or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company's strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements include, but are not limited to, risks and uncertainties including those regarding: the Company's ability to collect its accounts receivable in a timely manner, the Company's business strategies, the ability of the Company to market to the Ispire ONE™, Ispire ONE's success if meeting its goals, the ability of its customers to derive the anticipated benefits of the Ispire ONE™ and the success of their products on the markets; the Ispire ONE™ proving to be safe, and the risk and uncertainties described in "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Cautionary Note on Forward-Looking Statements" and the additional risk described in Ispire's Annual Report on Form 10-K for the year ended June 30, 2023 and any subsequent filings which Ispire makes with the
IR Contacts:
For more information, kindly contact:
Investor Relations
Sherry Zheng
718.213.7386
ir@ispiretechnology.com
KCSA Strategic Communications
Phil Carlson
212.896.1233
ispire@kcsa.com
PR Contact:
Ellen Mellody
570.209.2947
EMellody@kcsa.com
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SOURCE Ispire Technology Inc.
FAQ
What is the duration of Ispire Technology's (ISPR) agreement with ANDS?
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