AI assistant
CREATIVE NEWTECH LIMITED Capital/Financing Update 2021
62737_rns_2021-08-04_a370e11a-918a-4c05-bb55-3843c319ce76.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
Date: August 04, 2021
To, The Manager Listing Department National Securities Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East) Mumbai- 400051
Sub: Distribution agreement with Hyperice Inc.
Dear Sir,
We are pleased to enclose a copy of press release regarding distribution agreement with Hyperice Inc. for their range of massage and compression devices in India.
Kindly take the same on record.
Thanking you,
Yours Faithfully By Order of the Board For Creative Peripherals & Distribution Limited
Tejas Doshi Company Secretary and Compliance Officer ACS – 30828
August 04, 2021, Mumbai
Creative Peripherals and Distribution Limited
Business Update Release
Agreement with Hyperice Inc. – niche brand in recovery, health, wellness & fitness space
Products like massagers, compression devices etc.
Exclusive Pan-India distribution agreement for wide range of products
Mumbai, August 04, 2021: Creative Peripherals and Distribution Limited (NSE: CREATIVE) market specialists for experiential products in IT, Imaging, Lifestyle, and Security domains with a pan-India presence, is pleased to announce its distribution agreement with Hyperice Inc.
Creative Peripherals would be the exclusive distributor for a broad range of Hyperice's fitness, wellness & health products starting with massagers and compression devices across India. The products range would encompass percussion technology, dynamic air compression (DAC), vibration technology, thermal technology, ice compression technology (ICT) and an app.
Hyperice is a niche well-established brand specializing in technology-based products for massage and muscle relaxation across the world. The brand is associated with NBA and Olympics for their product offerings, with the likes of Grand Slam Champion Naomi Osaka endorsing the brand for its benefits for athletes as well as common people alike.
Its products are used worldwide not only by professional athletes and fitness enthusiasts but also people with a sedentary lifestyle; and India is a high potential growth market for such products, with increasing health awareness among the masses.
This association is a significant addition to the Company's brand portfolio and widens our product vertical in the health and wellness category.
Creative Peripherals and Distribution Limited
Management Comment:
Commenting on this development, Mr. Ketan Patel, Chairman & Managing Director of Creative Peripherals & Distribution Limited said:
"We are pleased to announce our exclusive tie-up with Hyperice Inc. for the distribution of their range of products across India.
With our pan-India network and online presence, we were identified as an ideal partner by Hyperice to penetrate into the high-potential Indian market through this exclusive agreement. This marks our foray into the health and wellness vertical and further diversifies our product mix.
Hyperice is a renowned brand used by professional athletes as well as fitness enthusiasts and amateurs across the world. The brand has a variety of products based on different technologies that facilitate muscle recovery and relaxation which would help muscle problems associated with a sedentary lifestyle as well. It has a strong and niche brand calling globally, and we believe India is a high-potential untapped market for such products.
Creative Peripherals and Distribution Limited
This development marks another positive turn amidst the current market scenario which is facing headwinds from the second wave of the pandemic. With health and wellbeing becoming of prime importance during such times, fitness products such as these would gain popularity quickly. We continue to strive towards being the best supply chain partner for global brands wishing to grow in India. I would like to thank all our employees and stakeholders for their continued hard work and support in our endeavors, and wish everyone good health and safety."
About Hyperice
Hyperice is on a mission to help the world move better. As the global recovery technology leader, specializing in vibration, percussion and thermal technology, Hyperice is used by the most eliteathletes, professional sports leagues and teams to optimize player performance. Hyperice hasapplied its technology and know-how to industries such as fitness, esports, healthcare, massage, and workplace wellness on a global scale. In March 2020, Hyperice acquired Normatec, innovators of cutting-edge dynamic compression systems, in December 2020 acquired RecoverX, pioneers of intelligent thermal technologies, to deliver next-generation performance and wellness solutions and in July 2021 acquired Core, both an app and a handheld meditation device designed to track heart rate and stress levels. For more information, visit www.hyperice.com .
Company Overview
Established in 1992, Creative Peripherals and Distribution Limited is a well-established company in India's Information and Communication Technology distribution market. Through a robust network of partners and distribution channels, the Company has made a strong foothold in the IT distribution market in the country. The Company has an omni-channel network across all three channels of online, offline and retail trade.
Creative Peripherals specializes in market entry and penetration for global brands. The Company offers demographic intelligence, and enables the formulation and execution of marketing strategies for its clients. In addition to such services, Creative continues to focus on timely delivery, diversification of its product portfolio, sustained long-term relationships with its channel partners, and extending value-added services over and above distribution.
These efforts have enabled the Company to win long running contracts as well as garner accolades in the Industry as amongst the best distributors in India by leading brands. Creative Peripherals is associated with over 20 renowned brands globally. These brands encompass a wide range of applications and help the Company to cater to a broad array of customers, both in the consumer and industrial businesses. Moreover, the Company is well-positioned to leverage the changing trends in the technology industry and be a part of the paradigm shift towards digitization in India.
Creative Peripherals and Distribution Limited
Creative Peripherals has a unique value-added business model. They provide end-to-end solutions, from market research and competition analysis for brands, to import, distribution, sales and servicing for the brand. Additionally, the Company suggests and executes marketing strategies and recommends viability in specific regions across India for their clients. This is enabled by specialized skill sets, local insights and experience, along with relevant market intelligence. Creative Peripherals also prepares strategic plans for market entry for foreign brands and their target category.
Furthermore, the Company conducts pre-sales and marketing activities for the success of the brand as well as to enable the channel partners to leverage their expertise and bottom line. Creative Peripherals works closely with partners across channels including Large Format Retail (LFR), e-commerce and specialized retailers. The Company is one of the few large distributors who conduct specialized training modules, events and promotional activities at the ground level with channel partners. They also conduct workshops and demos for resellers. This is possible due to the dedication and experience of the corporate and sales teams which constantly track latest market developments to build a closer market connect.
The Company's wide reach and superior logistics capabilities helps it provide end-to-end services including warranty and post-warranty, high-level repair services, and response centres, among others. Such expertise and superior quality of service has led to increased confidence of brands, many of which have chosen Creative Peripherals as exclusive partners and have been with the Company since over five years. The Company focuses on higher operational efficiencies and adding higher-margin and value-added products to its existing product portfolio and such brand associations are a concrete step in that direction.
For more details please visit: www.ecreativeindia.com
| Company: | Investor Relations |
|---|---|
| Abhijit Kanvinde | Bridge Investor Relations Pvt. Ltd. |
| Chief Financial Officer | Rahul Trivedi / Savli Mangle |
| Creative Peripherals and Distribution Limited | E-mail: [email protected] / |
| E-mail: [email protected] | [email protected] |
For further information please contact:
Note: Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other risk factors, viewers are cautioned not to place undue reliance on these forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.