$KAVL Kaival Marketing Services Hires Former Swisher International VP of Sales
https://www.globenewswire.com/news-release/20...Sales.html
GRANT, Fla., Dec. 07, 2022 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company" or "we,” “our” or similar terms), the exclusive U.S. distributor of all vapor products manufactured by Bidi Vapor, LLC ("Bidi Vapor"
, which are intended for adults 21 and over, today announced that Kaival Marking Services (“KMS”), the third-party vendor responsible for executing Kaival Brands’ marketing and sales strategies, has hired Dean Simmons, a former Vice President of Sales of Swisher International, in preparation for an expected resurgence of revenue growth following a pivotal legal victory for Bidi Vapor this past summer.
Mr. Simmons will join KMS as the Senior Vice President of Sales and Corporate Development, effective immediately. During his time at Swisher, a major other tobacco products (OTP) manufacturer, Mr. Simmons was responsible for leading Swisher’s national sales department, calling on wholesale and retail accounts throughout the convenience, mass-merchandisers, drug, grocery, and tobacco-outlet retail channels. His team deployed the Jacksonville, Florida-based manufacturer’s flagship brands, including Swisher Sweets, BLK, Optimo and Goodies.
Simmons joins a sales team at KMS that includes Todd Wheeler, a former top sales executive for Reynolds American Inc. (RAI), Winston-Salem, N.C. Wheeler was with RAI for 16 years before becoming national sales director for KMS in 2000. While at RAI, Wheeler was senior division manager for trade marketing. In that position, Wheeler oversaw independent and account outlets to deliver both volume and share targets. Successful brand launches included Camel SNUS, VELO, VUSE Vapor portfolio.
The expanded sales and marketing capability at KMS comes as Kaival Brands and KMS are gearing up for anticipated revenue growth. As previously reported, on August 23, 2022, the 11th Circuit Court of Appeals overruled the Food and Drug Administration’s (the “FDA”) marketing denial order related to Bidi Vapor’s flagship product, the BIDI® Stick electronic nicotine delivery system (“ENDS”). That decision has allowed Bidi Vapor to continue to market (through Kaival Brands and KMS) all flavor varieties of the BIDI® Stick in the United States. All ENDS product on the market today that do not have marketing authorization from FDA are subject to enforcement, at the FDA’s discretion.
Eric Mosser, President and Chief Operating Officer of Kaival Brands, stated, "We applaud KMS on strengthening their robust and accomplished marketing and sales team by securing a top talent in the industry. KMS’s hiring of Mr. Simmons brings Kaival Brands more ability to rapidly grow sales, so we look forward to all that Dean will achieve towards the goals set before KMS and contribute to our overall success.”
“Adding Dean will allow KMS to maximize its market penetration potential quickly with several new retail customers that have been waiting to sell BIDI® Stick,” said Russell Quick, President of KMS, Jacksonville Beach, Fla. “Dean’s extensive leadership background in OTP, as well as his connections with top accounts here in the U.S., make him a valuable asset to our growing sales team.”
Mr. Simmons stated “I am excited to join the KMS/Kaival Brands team and bring my expertise in this field to expand the market reach of BIDI® Stick. I will look to further grow what KMS has started by not only introducing BIDI® Stick to new accounts, but expanding contacts within existing accounts leveraging the background and relationships I have built up over the years.”
As previously reported, on November 15, 2022, Kaival Brands reached a three-year extension agreement with KMS to provide marketing and sales services for Kaival Brands. Potential compensation for KMS includes performance-based common stock option awards from Kaival Brands that can vest annually based on total net revenues and profit margins achieved by Kaival Brands from KMS’s efforts over the term of the agreement, with a maximum vesting to occur upon achievement of $180,000,000 in total net revenues reported within the 3-year term.
https://www.globenewswire.com/news-release/20...Sales.html
GRANT, Fla., Dec. 07, 2022 (GLOBE NEWSWIRE) -- Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) ("Kaival Brands," the "Company" or "we,” “our” or similar terms), the exclusive U.S. distributor of all vapor products manufactured by Bidi Vapor, LLC ("Bidi Vapor"
, which are intended for adults 21 and over, today announced that Kaival Marking Services (“KMS”), the third-party vendor responsible for executing Kaival Brands’ marketing and sales strategies, has hired Dean Simmons, a former Vice President of Sales of Swisher International, in preparation for an expected resurgence of revenue growth following a pivotal legal victory for Bidi Vapor this past summer. Mr. Simmons will join KMS as the Senior Vice President of Sales and Corporate Development, effective immediately. During his time at Swisher, a major other tobacco products (OTP) manufacturer, Mr. Simmons was responsible for leading Swisher’s national sales department, calling on wholesale and retail accounts throughout the convenience, mass-merchandisers, drug, grocery, and tobacco-outlet retail channels. His team deployed the Jacksonville, Florida-based manufacturer’s flagship brands, including Swisher Sweets, BLK, Optimo and Goodies.
Simmons joins a sales team at KMS that includes Todd Wheeler, a former top sales executive for Reynolds American Inc. (RAI), Winston-Salem, N.C. Wheeler was with RAI for 16 years before becoming national sales director for KMS in 2000. While at RAI, Wheeler was senior division manager for trade marketing. In that position, Wheeler oversaw independent and account outlets to deliver both volume and share targets. Successful brand launches included Camel SNUS, VELO, VUSE Vapor portfolio.
The expanded sales and marketing capability at KMS comes as Kaival Brands and KMS are gearing up for anticipated revenue growth. As previously reported, on August 23, 2022, the 11th Circuit Court of Appeals overruled the Food and Drug Administration’s (the “FDA”) marketing denial order related to Bidi Vapor’s flagship product, the BIDI® Stick electronic nicotine delivery system (“ENDS”). That decision has allowed Bidi Vapor to continue to market (through Kaival Brands and KMS) all flavor varieties of the BIDI® Stick in the United States. All ENDS product on the market today that do not have marketing authorization from FDA are subject to enforcement, at the FDA’s discretion.
Eric Mosser, President and Chief Operating Officer of Kaival Brands, stated, "We applaud KMS on strengthening their robust and accomplished marketing and sales team by securing a top talent in the industry. KMS’s hiring of Mr. Simmons brings Kaival Brands more ability to rapidly grow sales, so we look forward to all that Dean will achieve towards the goals set before KMS and contribute to our overall success.”
“Adding Dean will allow KMS to maximize its market penetration potential quickly with several new retail customers that have been waiting to sell BIDI® Stick,” said Russell Quick, President of KMS, Jacksonville Beach, Fla. “Dean’s extensive leadership background in OTP, as well as his connections with top accounts here in the U.S., make him a valuable asset to our growing sales team.”
Mr. Simmons stated “I am excited to join the KMS/Kaival Brands team and bring my expertise in this field to expand the market reach of BIDI® Stick. I will look to further grow what KMS has started by not only introducing BIDI® Stick to new accounts, but expanding contacts within existing accounts leveraging the background and relationships I have built up over the years.”
As previously reported, on November 15, 2022, Kaival Brands reached a three-year extension agreement with KMS to provide marketing and sales services for Kaival Brands. Potential compensation for KMS includes performance-based common stock option awards from Kaival Brands that can vest annually based on total net revenues and profit margins achieved by Kaival Brands from KMS’s efforts over the term of the agreement, with a maximum vesting to occur upon achievement of $180,000,000 in total net revenues reported within the 3-year term.
