SenesTech Approved as Vendor for All Ace Hardware Stores
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The strategic partnership between SenesTech, Inc. and Ace Hardware represents a significant expansion of SenesTech's distribution channels. The move allows SenesTech to tap into a broader consumer base across the Ace Hardware network, which is substantial given its over 4,500 locations. This could potentially increase the company's market share in the pest control industry and diversify its revenue streams.
Historically, retail partnerships of this scale can lead to increased brand visibility and customer reach. For SenesTech, this could translate into higher sales volumes for their EvolveTM soft bait product, especially if the product is well-received by the do-it-yourself consumer segment that frequents Ace Hardware stores. It's also worth noting that the packaging innovation to include stand-up pouches may enhance shelf presence and appeal to retail consumers.
However, the success of this venture will depend on the effectiveness of the product in a competitive market and the ability of SenesTech to manage the logistics and supply chain demands that come with servicing a large retail network. Additionally, the company's decision to work with rep agency firms could further influence its retail market penetration efficiency.
SenesTech's announcement of its acceptance as a vendor for the full Ace Hardware network could have implications for its financial performance. Investors will likely monitor how this expansion affects the company's revenue growth and profitability in the coming quarters. The direct ordering system could streamline distribution and potentially improve margins by reducing intermediary costs.
Furthermore, the move into the retail space signifies a strategic pivot that may require significant marketing and operational investments. The financial impact of these expenses will be an important factor for stakeholders to consider. If successful, the increased sales volume could offset these costs and lead to a positive impact on the company's bottom line.
It's also crucial to observe the company's stock market performance following this news. Any significant changes in the stock price could indicate investor sentiment regarding the potential of this partnership to contribute to SenesTech's growth trajectory. As with any strategic initiative, the long-term financial benefits will hinge on execution and market response.
"We are excited to be working with Ace Hardware. They represent leaders in the retail market for do-it-yourselfers and the consumer market, for which our EvolveTM soft bait is uniquely positioned," said Joel Fruendt, SenesTech's President and CEO.
"This is the first major move we will make into the retail market. We have expanded our packaging to include stand-up pouches, which are the perfect solution for the retail space. We are also in discussions with various rep agency firms that specialize in representing brands to major retailers and industrial/agricultural suppliers, to represent our line, as this will accelerate our penetration into this market segment," continued Mr. Fruendt.
This development follows the decision previously announced, that some individual Ace franchises were beginning to carry SenesTech's rodent fertility control products.
About SenesTech
We are committed to improving the health of the world by humanely managing animal pest populations through fertility control. We are experts in fertility control to manage animal pest populations. We invented ContraPest, the only
For more information visit https://senestech.com/
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements include, among others, our belief that Evolve soft bait is uniquely positioned for the retail market for do-it-yourselfers and the consumer market; and our belief that our discussions with rep agency firms that specialize in representing brands to major retailers and industrial/agricultural suppliers will accelerate our penetration into this market segment. Forward-looking statements may describe future expectations, plans, results or strategies and are often, but not always, made through the use of words such as "believe," "may," "future," "plan," "will," "should," "expect," "anticipate," "eventually," "project," "estimate," "continuing," "intend" and similar words or phrases. You are cautioned that such statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include, among others, the impacts and implications of the COVID-19 pandemic, the successful commercialization of our products, market acceptance of our products, regulatory approval and regulation of our products and other factors and risks identified from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2022. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. Except as required by law, we do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.
CONTACT:
Investors:
Robert Blum, Joe Dorame, Joe Diaz, Lytham Partners, LLC,
602-889-9700, senestech@lythampartners.com
Company:
Tom Chesterman, Chief Financial Officer, SenesTech, Inc.,
928-779-4143 x825
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SOURCE SenesTech, Inc.
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