– Agreement with EVB increases capacity and improves payment terms
– Establishes new centralized fulfillment in Southern China to expand direct international shipments to major customers
LAKE FOREST, CA / ACCESSWIRE / June 21, 2016 / XFit Brands, Inc. (XFTB), a global supplier of fitness and MMA equipment sold at retail and fitness outlets worldwide, whose brands include Throwdown® and Transformations™, today announced that it has agreed to an expanded relationship, centralized fulfilment and improved financial terms with EVB, one of the Company’s existing supply chain partners to further support its international expansion.
Shenzhen, China-based EVB recently visited XFit Brand’s global headquarters in Lake Forest, California to conclude the new agreement. EVB has been an existing partner with the Company for the past three years, and the new agreement builds on the increasing success that XFit Brands has been experiencing in executing its one-stop-shop for major fitness operators around the world. As the Company continues to secure the leading health club operators and supply agreements, it has been building its inventory to be more responsive to the demand. The extended terms enable the firm to better service key accounts on many levels.
As part of the agreement, a new centralized fulfillment center will be established at the EVB facilities in Shenzhen. The new facility will consolidate XFit Brand’s manufacturing from its 5 different manufacturers across China. It will increase the Company’s efficiencies and reduce its cost to serve through consolidation of shipments to major international customers utilizing the new fulfillment center and logistics capabilities. As part of the expansion, XFit Brands will also be augmenting its portfolio to be produced with EVB.
Dave Vautrin, CEO of XFit Brands commented, “EVB has been a great partner or the Company, and the expanded relationship with them enables us to further our international expansion. The Company has been growing at >40%, and this agreement will enable us to continue that growth and do so more efficiently. We believe the agreement will enable us to better meet demand and optimize working capital, as the company works to fulfill recent agreements in North America, as well as Saudi Arabia, Australia and adjacent countries.”
About XFit Brands Inc.
XFit Brands, Inc. known for it’s experiential fitness products, 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 products and services spanning MMA, cross training, and other high and low impact fitness regimes and owns the trademarks Throwdown® for its for its functional fitness line, MMA portfolio, and Transformations® in programming. The company’s portfolio of brands and products are sold in many countries around the world and supply many of the leading Health Club and Fitness outlets throughout the United States. The Company’s websites are www.xfitbrands.com and www.throwdown.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 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.
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