Correction - Lack of reference to MAR - Jays and Russian retailer sign an agreement with an initial order value of 11.1 MSEK
Regulatory Press Release
Jays Group (publ) sign an agreement with one of Russias largest retailers. Jays group’s subsidiary and headphone manufacturer Jays Headphones will provide headphones to a national campaign during Q2 2019. The initial order value is 11.1 MSEK.
Jays Group AB (publ) announces a new partnership with one of Russias major retailers. The agreement, which has been finalized together with Jays local Russian partner, includes an initial order of 11.1 MSEK in today’s dollar exchange rate. It will affect the turnover and earnings positively during Q2 2019. The transaction is structured so that Jays will have a positive cash flow from the receipt of the order in Q1 2019 to the final delivery during Q2 2019.
” I’m very proud to be able to announce this cooperation with one of the market leaders. Apart from future mutual business opportunities, it also proves that Jays is an attractive partner that has the capacity to win major tenders in a growing competitive headphone environment. To win a prestigious deal like this one it is not enough to deliver a modern product to an attractive price. The choice of Jays as a supplier is also based on high requirements of the actual product such as quality, design and sound profile. All together this has played a major part in closing the deal” says Henrik Andersson, CEO of Jays Group.
Jays will initially supply the headphones as as a part of a nationwide campaign. Throughout the campaign, Jays expects that the company’s products and brand will get a lot of exposure helping to strengthen the Jays overall brand position on the important Russian market.
For further information, please contact: Henrik Andersson, CEO Mobile: +46 761 99 35 55 Email: henrik@jaysheadphones.com
This information is such that Jays Group AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted for publication on February 7, 2019 at. 13:30
Since June 2018, Jays Group consist of the two subsidiaries Jays Headphones and Krusell United Group.
Jays vision and growth strategy is based on strong organic growth with profitability in combination with acquisition-driven growth within the audio segment and other close related verticals within consumer electronics such as smart-connectivity and mobile products. In 2017 Jays Group announced the new Group strategy, with a target of a yearly turnover of 200 MSEK by the end of 2019 and approximately 300 MSEK by the end of the three-year period 2018-2020.
Jays Group AB (publ) is noted at Nasdaq First North. Certified Adviser is Mangold Fondkommission AB. Engelbrektsplan 2, 114 34 Stockholm, tel. 08-503 015 50, e-mail: CA@mangold.se .
