GenTech
Proudly Secures Deal with TruLife
Distribution to Drive Growth in
SINFIT Digital Sales
Denver, CO
-- October 21, 2020 -- InvestorsHub NewsWire
-- GenTech Holdings, Inc. (OTC
PINK:
GTEH) ("GenTech" or the "Company"),
an emerging leader
in the high-end Premium Coffee (www.secretjavas.com), Hemp Wellness
(www.hakunasupply.com) and Functional Foods
(www.SINFITnutrition.com)
marketplaces, along with its
SINFIT
Nutrition brand
("SINFIT"), is excited to announce that
the Company has signed a new marketing, sales, and distribution
agreement (the "Agreement")
with
TruLife
Distribution
("TruLife") (TruLifeDist.com),
a leader in marketing, distribution, compliance, e-commerce, and
advisory services in the Functional Foods marketplace.
The main focus of
the new Agreement will be to accelerate
the growth of e-commerce sales of SINFIT products, particularly over the
Amazon.com platform.
TruLife provides direct access to sales
on Amazon, Walmart, Rakuten, Wish, TopHatter, and other top e-commerce
platforms, allowing clients to instantly list, ship, and sell
products through any major platform,
with an experienced team of experts and a proven track record of
success in brand placement and digital sales strategies.
"We have already demonstrated
a significant &
expansive growth curve since taking
control of the SINFIT brand in June,"
commented Harold Vaca, VP Domestic Sales
of
SINFIT. "But the vast majority of
that growth has been driven by large purchase orders from major
distribution partners, both domestic and international. We are also
committed to aggressively pursuing end-market consumer direct
purchases through our e-commerce footprint, which will provide
additional growth and diversify our cash flow ecosystem, making our
overall strategy less dependent upon
any one source of demand, while driving further growth
in total sales."
Management notes that
e-commerce sales
represent a sizeable portion of overall retail sales growth
worldwide, with more than $3.5 trillion in online sales accounting
for over 14% of total pre-pandemic
global retail
sales. Since
the onset of the global health crisis, that ratio has shifted
decisively further in favor of e-commerce sales,
which is not likely to entirely revert back upon the advent of a
viable and widely accessible vaccine.
Vaca added, "We have seen an epic
process of market penetration for e-commerce platforms this year as
major online retailers have begun to reach a much wider base of
consumers – people who haven't ever shopped much online, but have
been forced to during recent months out of personal health
concerns. Many of them will almost certainly continue to make use
of e-commerce now that they have tried it out, at least to some
extent, making e-commerce an essential sales channel for
SINFIT
products.
TruLife
has the network,
team, experience, and resources to dramatically augment our
e-commerce
performance."
SINFIT branded products registered
over $2.2 million in global sales in 2019, and are now approved for
sale and available for purchase on the Walmart.com and Amazon.com
e-commerce platforms as well as in over 2,500 GNC locations in
North America and over 10,000 global physical and e-commerce stores
across more than 10 countries around the world.
SINFIT products as well-positioned
relative to peers and to the long-term macro tailwind defining the
functional foods market, which saw sales top $267 billion in
February of this year on a global basis, with sales in the US
reaching $63 billion, according to Euromonitor 2020. This trend is
part of a larger supportive momentum in the general category, with
global sales of organic food and drink topping $105 billion in 2018
(Ecovia
2019). U.S. organic food sales also reached $47.9 billion, up 5.9%
in 2018 (OTA 2019). In 2019, 77% of U.S. adults used dietary
supplements, an all-time high (CRN 2019). U.S. supplement sales are
estimated to have reached $49.3 billion in 2019, up 6.2% (NBJ
2019).
About GenTech Holdings,
Inc.:
GenTech Holdings, Inc. is a publicly
traded company under the symbol
GTEH. The Company launched a high-end Coffee Subscription
service in early 2020 called Secret Javas, owns a Functional Food
company, SINFIT Nutrition and recently closed
its acquisition on Products-Groups' "Hakuna
Supply".
Forward-Looking Statements
This press release
may contain forward-looking statements, including information about
management's view of GenTech, Inc.'s future expectations,
plans and prospects. In particular, when used in the preceding
discussion, the words "believes," "expects," "intends," "plans,"
"anticipates," or "may," and similar conditional expressions are
intended to identify forward-looking statements. Any statements
made in this news release other than those of historical fact,
about an action, event or development, are forward-looking
statements. These statements involve known and unknown risks,
uncertainties and other factors, which may cause the results
of GenTech, its subsidiaries and concepts
to be materially different than those expressed or implied in such
statements. Unknown or unpredictable factors also could have
material adverse effects on GenTech's future results. The
forward-looking statements included in this press release are made
only as of the date hereof. GenTech cannot guarantee future
results, levels of activity, performance or achievements.
Accordingly, you should not place undue reliance on these
forward-looking statements. Finally, GenTech undertakes no obligation to
update these statements after the date of this release, except as
required by law, and also takes no obligation to update or correct
information prepared by third parties that are not paid for
by GenTech.
Corporate
Contact:
invest@gentech.group
www.gentechholdings.com
