Tytan Tiles exceeded sales expectations in
2,200 store launch, receiving chase orders from Walmart and
expanded launch to 3,911 stores for the second half of 2023
CLEARWATER, Fla., Feb. 23,
2023 /PRNewswire/ -- Upexi Inc. (NASDAQ:
UPXI) (the "Company" or "Upexi"), a multi-faceted Amazon and
Direct-to-Consumer brand owner and innovator in aggregation, today
announced the Company's children's toy brand, Tytan Tiles
("Tytan"), has officially outpaced their sales projections, almost
doubling the forecasted order since the brand hit shelves in 2,200
stores.
Tytan Tiles line of STEM toys has seen such strong demand since
its entrance into Walmart stores that the retailer placed an
additional order, almost doubling its initial forecast for the
first half of 2023, and will increase rollout of the brand to over
3,900 stores throughout the second half of 2023.
"Our Tytan Tiles team has done a tremendous job exceeding every
expectation with this product category and its quick success in
Walmart has validated the opportunity in the educational toy
category," commented Allan Marshall,
CEO of Upexi. "The initial launch has surpassed all Company
forecasts, resulting in additional orders to keep up with demand.
We are committed to the category and have already committed to up
to four new product launches in 2023/2024. With the start of
Amazon's rollout and the current success in stores and online,
Tytan Tiles is expected to exceed our internal sales forecasts for
2023."
About Upexi, Inc.
Upexi is a multifaceted brand owner with established brands in
the health, wellness, pet, beauty and other growing markets. We
operate in emerging industries with high growth trends and look to
drive organic growth of our current brands. We focus on direct to
consumer and Amazon brands that are scalable and have anticipated,
high industry growth trends. Our goal is to continue to accumulate
consumer data and build out a significant customer database across
all industries we sell into. The growth of our current database has
been key to the year over year gains in sales and profits. To drive
additional growth, we have and will continue to acquire profitable
Amazon and eCommerce businesses that can scale quickly and reduce
costs through corporate synergies. We utilize our in-house, SaaS
programmatic ad technology to help achieve a lower cost per
acquisition and accumulate consumer data for increased
cross-selling between our growing portfolio of brands.
FORWARD LOOKING STATEMENTS:
This news release contains "forward-looking statements" as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
business strategy, potential acquisitions, revenue guidance,
product development, integration and synergies of acquiring
companies and personnel. These forward-looking statements are made
as of the date of this news release, and we assume no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements. Although we believe that the beliefs,
plans, expectations and intentions contained in this press release
are reasonable, there can be no assurance that such beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in our annual
report on Form 10-K and other periodic reports filed from
time-to-time with the Securities and Exchange Commission.
Company Contact
Andrew
Norstrud, Chief Financial Officer
Email: andrew.norstrud@upexi.com
Phone: (702) 332-5591
Investor Relations Contact
KCSA Strategic
Communications
Valter Pinto or Jack Perkins
Email: Upexi@KCSA.com
Phone: (212) 896-1254
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SOURCE Upexi, Inc.