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17th March by JSBvape world view:The vape brand Supreme has agreed to sell the intellectual property rights of its e-liquid brand T-Juice to a French wholesaler for 4.5 million euros (approximately 4.78 million USD).
Supreme will retain the exclusive manufacturing rights of T-Juice and plan to complete a revenue of 15 million euros (approximately 15.94 million USD) within five years.
This French wholesaler is manufactures, licenses, and distributes a range of fast moving consumer goods, and has established a strategic partnership with La Vape Professional Distribution (LVP), one of France’s largest wholesalers of vapes and e-liquid.
Supreme said the agreement would enable it to focus on its core manufacturing technology and profit expansion, while also simplifying costs.
At the same time, LVP has a wide and complete distribution channel, making it an ideal choice to fully utilize the brand’s development in Europe.
Supreme CEO Sandy Chadha said that these agreements will enable Supreme to do what it does best – further utilize its production base and maximize the profit potential of its product portfolio in the short term. This not only brought a return on Supreme’s initial investment, but also secured a five-year production agreement, which ensured that Supreme was in a favorable position to fully utilize their market position and sales channels in Europe together with LVP.
Lets do best wishes to them!