SOURCE: Petrone Worldwide, Inc.

March 23, 2017 09:00 ET

Petrone Worldwide Announces the Signing of a Strategic Agreement to Undertake Direct Sales and Distribution to all Dewan & Sons Customers in North America

WESTON, FL--(Marketwired - Mar 23, 2017) - Petrone Worldwide, Inc. (OTCQB: PFWI), a leader in the hospitality industry with global operations capabilities, announces today the signing of a strategic alliance with Dewan & Sons. Dewan & Sons India, a leading Houseware articles export house with an established presence in the United States has appointed Petrone as the North American exclusive agent, with this strategic alliance to undertake direct sales and JIT distribution to all Dewan customers in North America. "The value-added warehousing and distribution (VAWD), dedicated contract carriage (DCC), domestic transportation management (DTM) of PFWI coupled with JIT and lean inventory management will be a significant cost savings for Dewan and will create a projected $5,000,000+ in new revenue for PFWI adding dramatic value to the company and its shareholders," said Victor Petrone, CEO and founder of PFWI.

Victor Petrone, CEO further says, "The service includes Direct Store delivery of Dewan's products to retail stores, thereby bypassing a retailer's distribution center to increase inventory turns and reduce margins for Dewan." Petrone will be serving the following Dewan clients in North America: Wal Mart, Sam's Club, TJ Maxx, Home Goods, and Marshall's.

"We evaluated many companies to determine the functionality that would best fit our organization. Petrone is the ideal organization based on its ability to augment our current capabilities and its significant market strength in the logistics and warehousing segment, now with direct sales and service. This strategic alliance with Petrone creates increased real-time communication with our purchasing agents and creates a new service which is preferable, allowing reduced Minimum Order inventory. Dewan has a large array of high profile customers that we currently service. We have grown to a point that in order to expand and support the growing needs of our customers, we must partner with an organization such as Petrone. We are all very excited and look forward to working with the team. With the addition of these capabilities Petrone Worldwide is able to drive value for its customers through lower costs and faster time-to market," said Surender Gandhi, President of Dewan & Sons.

Petrone Worldwide, Inc. will continue to update both the public and shareholders on a regular basis by way of press releases, financial statements and other SEC disclosures.

About Dewan & Sons:
Dewan & Sons is a manufacturer in India focused on the production of articles of Brassware, Copperware, galvanized & wrought iron, aluminum ware, stainless steel utensils, EPNS and EPSS for luxury brands and mass merchandisers in North America and Europe in the houseware, furnishings marketplace. They offer, lighting, textiles, bath ware, décor, outdoor and garden products. The in- house design team works closely with leading design houses to bring new collections for every season and provide an unmatched combination of inspired design, high quality and unparalleled value.

About Petrone Worldwide, Inc. (OTCQB: PFWI):
Petrone Worldwide, Inc. is a leader in the hospitality industry with global operations capabilities. Now providing third party logistics for overseas manufacturing companies attempting to sell their goods in North America, PFWI sells and markets products under its own proprietary name and acts as distributor for a wide variety of companies to the hospitality trade. For more information visit www.petroneworldwide.com .

Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.

Contact Information

  • For further information, please contact:
    Victor Petrone
    2200 N. Commerce Parkway
    Suite 200
    Weston, FL 33326
    954-529-2000