Kaival Brands (OTCQB: KAVL), a company focused on developing products into mature, dominant brands, is the sole distributor of the Bidi(TM) Stick, an innovative nicotine device designed to provide a smokeless, ashless and premium vaping experience for adult consumers. The Bidi Stick is rapidly gaining momentum in the global e-cigarette market, projected to hit $59.3 billion by 2027. Kaival is building a growing distribution network, with its Bidi Stick products now stocked across thousands of U.S. retail and convenience store locations, as well as recently exported to foreign retailers in Guam through Ambros Inc. On the heels of impressive third quarter sales totaling approximately $32.4 million, with gross profits of $4.4 million over the three-month period ending July 31, 2020, Kaival looks to further expand. “We had an extremely busy and fruitful third fiscal quarter,” Kaival president and CEO Niraj Patel stated in a recent article describing the company’s success amidst explosive growth of the vaping industry. “We experienced a rising demand for our exclusively distributed premium product, the Bidi Stick. We have seen an increase in sales of almost 44% from the previous quarter, with our sales growth occurring mostly organically through smaller distribution channels and wholesalers. Now in the fourth fiscal quarter, we are focused on expanding our distribution into large national retailers and convenience chains.”
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About Kaival Brands Innovations Group Inc.
Kaival Brands is focused on growing and incubating innovative and profitable products into mature and dominant brands in their respective markets. Kaival’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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