Kaival Brands (OTCQB: KAVL) is the exclusive global distributor of products manufactured by Bidi Vapor LLC. Bidi Vapor’s primary offering, the Bidi(R) Stick, is one of the fastest-growing closed system vaping products in the U.S. and the only vape product on the market with an ecologically friendly, mass-recycling program. Kaival Brands also recently launched the Bidi(TM) Pouch by Bidi Vapor, a tobacco-free nicotine pouch. Kaival Brands commenced business operations in March 2020 and reported aggregate revenues of approximately $55 million for the first two quarters following its inception. The company’s management estimates that fiscal 2021 revenues will be in the range of $400 million to $450 million. This projection is based on the growth the company has experienced during fiscal 2020 and the continued demand for the Bidi Stick as evidenced in Goldman Sachs’ recent research report showing a surge in total dollar sales growth to 1,845% to lead the category for the 12-week period ended Nov. 28, 2020. “While we are very pleased with the substantial growth and adoption of the Bidi Stick in the marketplace, we are extremely proud of our commitment to the environment and keeping the product out of the hands of minors,” said KAVL CEO Niraj Patel.
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About Kaival Brands Innovations Group Inc.
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. For more information, visit the company’s website at www.KaivalBrands.com.
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