Truxmart Announces Private Label Initiative
TORONTO, ON — (Marketwired) — 12/14/15 — Truxmart Tonneau Covers, Inc., (Truxmart) a wholly owned subsidiary of Franchise Holdings International (OTCQB: FNHI) is pleased to announce today that it has begun the roll out of an exclusive private label program of its proprietary line of products to offer to its distributors worldwide.
Steven Rossi, President of Truxmart said, “We are very excited to offer this program to select customers across Truxmart’s distribution network. This program will firmly establish us as a vendor of choice by supplying high quality truck bed covers to distributors in our markets.
“Based on the limited data available to us we conservatively estimate aftermarket segment of the tonneau cover market in North, Central, and South America to be between $500 Million to $1 Billion annually. We conservatively estimate that the market for private label business would represent about 10% of that market. We feel our line of proprietary truck bed covers are well positioned to penetrate this market from a quality and pricing perspective. This program will allow our customers to take advantage of Truxmart’s high quality products, patents, and infrastructure.”
Truxmart expects this program to provide the company with a completely new and untapped revenue stream and assist the company’s growth and revenue targets.
Truxmart’s private label program will provide distributors with existing Truxmart products as well as newly developed products which are specifically branded and designed to suit to the client’s specifications and market requirements.
Truxmart has already begun negotiating private label deals with new and existing distributors in Canada, United States, and in Latin America. Truxmart will continue to provide regular updates on the growth of the Company in the coming weeks and months.
Truxmart’s private label product offering will commence with three unique products and will scale to meet the demand of its customers and their markets.
For more information on Truxmart, please visit www.truxmartcovers.com.
About Franchise Holdings International.
Truxmart, Franchise Holdings International’s wholly owned subsidiary, was founded in 2011 to take advantage of the limited innovation provided by existing tonneau cover manufacturers. Tonneau covers have remained much the same in price and design since 2005 with one main company controlling a majority of the tonneau cover market. This dynamic market segment is in need of a new innovative manufacturer of high quality, functional, and aggressively priced tonneau covers. Truxmart has developed multiple products for all of the most prominent pick up trucks available in North America. Details of most products can be found at www.truxmartcovers.com. Truxmart sells its products through master warehouse distributors, dealers, and online retailers in Canada and the U.S.
This document may contain forward-looking statements, relating to Franchise Holdings International Inc. operations or to the environment in which it operates, which are based on Franchise Holdings International Inc. operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Franchise Holdings Internationals Inc. control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Franchise Holdings International Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Source: Franchise Holdings International, Inc.
Released December 14, 2015