TORONTO, ON--(Marketwired - July 14, 2016) - TruXmart LTD has received an "exciting" U.S. $82,000 opening private label order for the next-generation Forte tonneau cover from a large North American aftermarket auto parts and accessory master warehouse distributor.
As an opening order, it was considered a 'trial.' We expect the order to grow as customers market the product. A full order, comprising a full trailer load of 350-600 units, is estimated at nearly USD$95,000.
TruXmart, a wholly owned subsidiary of Franchise Holdings International, Inc. (OTCQB: FNHI), estimates it could annually receive 10-15 orders from this customer valued at $1.1 - $1.4 million in potential revenues for the new and innovative Forte tonneau cover.
"This initial order, with its strong profit margin, is outstanding validation for the rigorous development process we engaged in for the new Forte," said Steven Rossi, TruXmart's President. "We are so honoured that this customer is working with TruXmart for its attention to fit, quality, R&D, and strong/growing patent portfolio. It is a very exciting moment for our company."
Rossi added that the customer is also reviewing purchasing private label soft Tri Fold and Low Profile Roll Up covers from TruXmart within 2016, after TruXmart finalizes model changes and improvements. TruXmart plans to grow a private label customer base in Canada, the U.S. and Latin America with its Forte, Smart Roll, and Tri Fold tonneau covers.
"TruXmart will grow ethically, with a mandate not to oversaturate the market, working closely with key customers in this program," Rossi added. "With the Forte, we have broken new ground in quality and have priced it aggressively, while increasing margins for the company."
"Over $15,000,000 of tonneau covers are estimated to be sold in the U.S., each day, yet only about one in five truck owners, of the 50 million registered light trucks in the USA, have a tonneau cover protecting their truck's bed," Rossi said. TruXmart believes that the next generation Forte hard folding cover will help achieve its goals for exponential growth in 2016 revenues.
For more information on TruXmart, please visit www.truxmartcovers.com
About Franchise Holdings International. TruXmart, Franchise Holdings International's wholly owned subsidiary, was founded in 2011 to take advantage of the limited innovation provided by existing tonneau cover manufacturers. Tonneau covers have remained much the same in price and design since 2005 with one main company controlling a majority of the tonneau cover market. This dynamic market segment is in need of a new innovative manufacturer of high quality, functional, and aggressively priced tonneau covers. TruXmart has developed multiple products for all of the most prominent pick up trucks available in North America. Details of most products can be found at www.truxmartcovers.com. TruXmart sells its products through master warehouse distributors, dealers, and online retailers in North America and is expanding to Central and South American distribution of its products.
This document may contain forward-looking statements, relating to Franchise Holdings International Inc. operations or to the environment in which it operates, which are based on Franchise Holdings International Inc. operations, estimates, forecasts and projections. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict, and/or are beyond Franchise Holdings Internationals Inc. control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Consequently, readers should not place any undue reliance on such forward-looking statements. Franchise Holdings International Inc. disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.