Xfit Brands, Inc. Executes Agreement with Brazilian Partner to Sell $2,000,000 in Gross Sales
Licenses its MMA Brand trademark and intellectual property
Focuses on Mass Market, Specialty and direct channels of distribution
LAKE FOREST, CA / ACCESSWIRE / March 6, 2017 / XFit Brands, Inc. (XFTB), a global supplier of fitness, MMA equipment and Sports Surfaces sold worldwide whose brands include Throwdown, Transformations, EnviroTurf and GlideBoxx, today announced that it has executed a licensing agreement for $2,000,000 in sales in Brazil over the next 2 years.
XFit Brands is excited to announce the licensing agreement for Throwdown®, one of its internally recognized brands. Throwdown® entered into an agreement with MELLGINE REPRESENTACOES LTDA, a Brazilian Corporation. The licensing agreement guarantees no less than one million US dollars in sales and a 10% minimum payment to XFIT Brands, Inc. per year. The agreement encompasses mixed martial arts (MMA) gloves, punching bags, exercise equipment and Throwdown® branded apparel. Mixed Martial Arts is second only to soccer in Brazil and the demand for quality merchandise has continued to be strong in Brazil. MELLGIN REPRESENTACOES, LTDA, a Brazilian Corporation (MELLGIN) brings with it strong retail and ecommerce distribution in Brazil and other regions of South America. Xfit also recently completed the refinancing with PIMCO and the acquisition of GlideBoxx and EnviroTurf, and has been rapidly growing its business around the world. The Company has grown its revenues at a double-digit rate for the past 3 years. The new additions also facilitate penetration of multiple new potential outlets across colleges and other campuses, where EnviroTurf Sports Surfaces are currently placed and have longstanding relationships.
Mellgine Representacoes, Ltda intends on launching life style apparel, accessories, training equipment, protective equipment weight training gear and agility training gear and the channels of distribution for this license agreement include Mass Market, Sporting Goods, Specialty Stores, Department Stores, Direct to consumer. Mellgin Representacoes Ltda. Is a privately held company active in the area of agents and dealers of commodity contracts, founded in 1994. For over 20 years Mellgin has manufactured and distributed quality licensed apparel and products in retail distribution in Brazil and other regions of South America.
About XFit Brands®
XFit Brands, Inc., is one of the leading suppliers of functional fitness brands, products, and equipment sold at retail and fitness outlets worldwide. The company provides a full portfolio of functional fitness products, Mixed Martial Arts gear, and other high and low impact fitness regimes and owns the Throwdown® and XFIT Brands® trademarks registered in more than 30 countries for its Functional Fitness line and its MMA portfolio, Transformations® in programming and training, GlideBoxx® sports training system, and now EnviroTurf Sports Training Surfaces. The company's portfolio of brands and products are sold in many countries around the world and supply many of the leading Gym and Fitness outlets throughout the United States. The Company's websites are www.XfitBrands.com, www.Throwdown.com www.GlideBoxx.com and www.EnviroTurfServices.com
Safe Harbor Disclosure
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statement reflecting management's current expectations regarding future results of operations, economic performance, financial condition and achievements of XFit, including statements regarding XFit's expectation to see continued growth. The forward-looking statements are based on the assumption that operating performance and results will continue in line with historical results. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate. Forward-looking statements, specifically those concerning future performance are subject to certain risks and uncertainties, and actual results may differ materially. XFit Brands competes in a rapidly growing and transforming industry, and other factors disclosed in the Company's filings with the Securities and Exchange Commission may affect the Company's operations. Unless required by applicable law, XFit undertakes no obligation to update or revise any forward-looking statements.
For investor inquiries please contact:
Scott Cameron
investorRelations@xfitbrands.com
(949) 916-9680
Websites: www.XFitBrands.com
SOURCE: XFit Brands, Inc.
