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Consumer Electronics Retailer Sees At-Home Fitness Market Growing Rapidly
TUT Fitness Group signs Vendor Master Agreement with Best Buy Canada Ltd.
The agreement will promote TUT Trainer™ and TUT Rower™ on top-ranked BestBuy.ca ecommerce store
Best Buy operates 160 stores across Canada and attracts 250 million visits annually to its stores and ecommerce website
Per the terms of the agreement, Best Buy will feature TUT Fitness Group's patented TUT Trainer™ and TUT Rower™ exercise equipment on its top-ranked online stores. Best Buy Canada is the most-visited multichannel retailer in the country, with over 250 million visits in-store and on BestBuy.ca each year. 80% of Canadians live within 25 km of a Best Buy store.
"As Canada's largest consumer electronics retailer, Best Buy is a fantastic retail partner for TUT Fitness Group. They can expose our brand to a large number of shoppers each year. We especially appreciate the enthusiasm that Best Buy has shown for our ground-breaking exercise products," said Mark Addison, Director of Strategic Sales & Partnerships at TUT Fitness Group.
LICENSING, SALES & DISTRIBUTION:
TUT Fitness products feature internationally patented, stackable TUT Plates™ resistance bands as the core element in both its TUT Trainer™ Tower and TUT Rower™, which are being marketed and sold into the $10.7 billion market for home gym equipment. TUT Fitness Group intends to further revolutionize the home gym market by licensing its stackable resistance band technology to other equipment manufacturers.
Parties interested in resale, wholesale, regional and international distribution and licensing should contact Mark Addison at: email@example.com.
ABOUT TUT FITNESS GROUP:
TUT is a Vancouver-based Canadian manufacturer of high-performance fitness products. The company has designed, patented, and manufactured one of the world's smallest (11.6 lbs), and most affordable high-performance home gyms. Incorporated in 2018, TUT is an emerging player in the connected Home Gym and Fit Tech hardware space, targeting the US$10.7B Global Home Exercise Equipment Market1 and Online Fitness Market, expected to be US$30B by 20262.
TUT's patented, industry-first, stackable resistance bands (TUT Plates™) allow the user to increase or decrease resistance loads with up to 200 lbs of resistance. Utilized in both the TUT Trainer™ Tower and TUT Rower™, this new breakthrough in functional strength and cardio training incorporates Time Under Tension to target every muscle group without the added pressure to joints or tendons, optimizing workouts, and raising the bar for personal home gyms.
For further information please contact:
CEO, TUT Fitness Group Inc.
Certain statements in this release are forward-looking statements or information, which include the outcomes and expectations from the Vendor Master Agreement with Best Buy, TUT Fitness Group licensing its technology, expectations and outcomes from the TUT Fitness Group's patented technology, development of technologies, customer demand for TUT Fitness Group's products, the updates to TUT products, future plans, regulatory approvals and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, security threats, and dependence on key personnel and including those other risks filed under the Company's profile on SEDAR at www.sedar.com. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment and technology failures, litigation, increase in operating costs, the impact of COVID-19 or other viruses and diseases on the Company's ability to operate, competition, failure of counterparties to perform their contractual obligations, exchange rate fluctuations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
1 Source: Fortune Business Insights
2 Source: Global Market Insights, Inc.
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SOURCE TUT Fitness Group Limited
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