Kaival Brands (NASDAQ: KAVL), the exclusive global distributor of all products made by Bidi(R) Vapor LLC, including the BIDI(R) Stick disposable electronic nicotine delivery system (“ENDS”), is expanding its distribution by adding both wholesale and retail accounts. Kaival anticipates the new distribution footprint will cover an estimated 28,000 additional stores. The announcement comes after the U.S. Food and Drug Administration issued a marketing denial order (“MDO”) to Bidi Vapor last year, as it did for some 96% of all manufacturers of flavored ENDS. However, earlier this year the U.S. Court of Appeals for the Eleventh Circuit granted Bidi Vapor a judicial stay of the MDO, while the courts determine the result of Bidi Vapor’s ongoing merits-based litigation. “We are encouraged by growing sales volumes in our second fiscal quarter generated by both established wholesalers and retailers selling the BIDI Stick in new stores, as well as new wholesale and retail accounts being added to our distribution network,” said Kaival Brands CEO Niraj Patel in the press release. “We anticipate the activation of approximately 3,900 new store locations over the next 45 days, including one new major retailer having already placed orders totaling more than $1.1 million. . . . The judicial stay granted in February allowed us to resume sale of all 11 flavored products in the BIDI Stick lineup. We are eager to return our flavored products to the shelves of retailers that comply with the Prevent All Cigarette Trafficking Act so adult consumers can enjoy their preferred flavors once again. As a result of the judicial stay, we expect revenues to resume an upward trajectory as renewed distribution ramps up and sales of flavored BIDI Sticks increase.”
To view the full press release, visit https://ibn.fm/RPzNV
About Kaival Brands Innovations Group Inc.
Based in Grant, Florida, Kaival Brands is a company focused on growing and incubating innovative and profitable products into mature and dominant brands in their respective markets. The company’s vision is to develop internally, acquire, own or exclusively distribute these innovative products and grow each into dominant market-share brands with superior quality and recognizable innovation. Kaival Brands is the exclusive global distributor of all products manufactured by Bidi Vapor. For more information about the company, visit www.KaivalBrands.com.
NOTE TO INVESTORS: The latest news and updates relating to KAVL are available in the company’s newsroom at http://ibn.fm/KAVL
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