Strategic Partnership Marks Hidden Hills Club
Expansion into the Global Nicotine Products Market
LOS
ANGELES, Aug. 6, 2024 /PRNewswire/
-- Ispire Technology Inc. ("Ispire" or the
"Company") (NASDAQ: ISPR), a leader in the development and
commercialization of vaping technology and precision dosing,
announced its subsidiary, Aspire North America LLC, signed an
exclusive 30-year global licensing agreement with Hidden
Hills Club, marking the US-based lifestyle brand's
expansion into the global nicotine products market.
Under the landmark agreement, Ispire will globally manufacture,
distribute and commercialize Hidden
Hills' branded nicotine products such as reduced-risk
e-cigarettes. The initial Hidden
Hills nicotine products are scheduled to roll out in the
United Arab Emirates and
South Africa in the coming weeks,
followed by the United Kingdom and
European Union over the next few months. Ispire is a leader in
vaping technology, research and development, design and innovation,
forging the worldwide industry standard for vaporized products. The
Company offers a comprehensive line of vaporizers, all-in-ones,
cartridges, batteries and dabbing products and plans to expand its
current product offerings.
Ispire Co-CEO Michael Wang
commented, "Our partnership with Hidden Hills Club enables us to
bring more innovative and reduced-risk nicotine products to a
global audience. The 30-year exclusive license will allow us to
make significant investments in the Hidden Hills brand, ensuring
robust distribution and a deep product portfolio that captures the
essence of this iconic lifestyle brand. Hidden Hills' popularity as a lifestyle brand
– encompassing apparel, clothing and cannabis and hemp products –
has grown at an exponential rate over the last two years.
Partnering with Hidden Hill will help Ispire to capture this
west-coast culture and energy, and infuse it into its nicotine
product offerings globally, under the Hidden Hills brand flag."
Dre Liang CEO of Hidden Hills Club, added, "Teaming up with
Ispire was a strategic decision for us. Ispire's expertise in
vaping technology and its global distribution network provide the
perfect platform to expand our brand into the nicotine products
market. We believe this collaboration will redefine the market with
products that reflect our brand's commitment to quality and
innovation."
Earlier this year, Ispire and Hidden Hills Club teamed
up to launch a one-of-a-kind cannabis and hemp vaping experience
for consumers: Hidden Hills & Friends. The Hidden Hills &
Friends collaboration marries Ispire's dual-tank SWTCH
ONE with a variety of select cannabis and hemp oils from
Hidden Hills and its legendary
friends – Plug 'n Play, Packwoods, Big
Chief and LA Traffic.
The e-vapor and cannabis vaping markets are expected to reach
$29.9 billion and $11.6 billion in 2024, respectively, driven by
the secular trend of healthier tobacco alternatives. As the pioneer
of the "cloud chasing" movement, Ispire is at the forefront of
disruptive vaping technologies, holding over 200 issued patents and
more than 800 patents pending across China, the U.S., E.U. and other countries.
Ispire has received numerous renowned vaping awards, including ECC,
VTC, and NVE, among others.
About Hidden Hills Club
Hidden Hills Club is more than a destination; it is an invitation
for introspection, connection and self-care. Our products are
designed to be your oasis, allowing you to recharge your mind, body
and spirits. Hidden Hills offers a
blend of premium disposables and edible products that balance
flavor and potency. With carefully crafted options, Hidden Hills
Club provides an escape from the hectic work week or a slice of
'you' time on the weekend. All products undergo full-panel
third-party lab testing, adhering to the highest standards of
quality and potency. For more information,
visit www.hiddenhills.club.
About Ispire Technology Inc.
Ispire is engaged in the
research and development, design, commercialization, sales,
marketing and distribution of branded e-cigarettes and cannabis
vaping products. The Company's operating subsidiaries own or
license more than 400 patents worldwide. Ispire's branded
e-cigarette products are marketed under the Aspire name and are
sold worldwide (except in the U.S., People's Republic of China, and Russia) primarily through its global
distribution network. The Company also engages in original design
manufacture (ODM) relationships with e-cigarette brands and
retailers worldwide. The Company's cannabis products are marketed
under the Ispire brand name primarily on an ODM basis to other
cannabis vapor companies. Ispire sells its cannabis vaping hardware
in the US, Europe and South Africa, it also has commenced marketing
activities and customer engagement in Canada and Latin
America. For more information, visit
www.ispiretechnology.com or follow Ispire on
Instagram, LinkedIn, Facebook, Twitter and YouTube.
Forward Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended
("Securities Act") as well as Section 21E of the Securities
Exchange Act of 1934, as amended and the Private Securities
Litigation Reform Act of 1995, as amended, that are intended to be
covered by the safe harbor created by those sections.
Forward-looking statements, which are based on certain assumptions
and describe the Company's future plans, strategies and
expectations, can generally be identified by the use of
forward-looking terms such as "believe," "expect," "may," "will,"
"should," "would," "could," "seek," "intend," "plan," "goal,"
"project," "estimate," "anticipate," "strategy," "future," "likely"
or other comparable terms, although not all forward-looking
statements contain these identifying words. All statements other
than statements of historical facts included in this press release
regarding the Company's strategies, prospects, financial condition,
operations, costs, plans and objectives are forward-looking
statements. Important factors that could cause the Company's actual
results and financial condition to differ materially from those
indicated in the forward-looking statements. Such forward-looking
statements include, but are not limited to, risks and uncertainties
including those regarding: the Company's ability to collect its
accounts receivable in a timely manner, the Company's business
strategies, the ability of the Company to market to the Ispire
ONE™, Ispire ONE's success if meeting its goals, the ability of its
customers to derive the anticipated benefits of the Ispire ONE™ and
the success of their products on the markets; the Ispire ONE™
proving to be safe, and the risk and uncertainties described in
"Risk Factors," "Management's Discussion and Analysis of Financial
Condition and Results of Operations," "Cautionary Note on
Forward-Looking Statements" and the additional risk described in
Ispire's Annual Report on Form 10-K for the year ended June 30, 2023 and any subsequent filings which
Ispire makes with the U.S. Securities and Exchange Commission. You
should not rely upon forward-looking statements as predictions of
future events. The forward-looking statements made in the press
release relate only to events or information as of the date on
which the statements are made in the press release. We undertake no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
after the date on which the statements are made or to reflect the
occurrence of unanticipated events except as required by law. You
should read this press release with the understanding that our
actual future results may be materially different from what we
expect.
IR Contacts:
For more information, kindly contact:
Investor Relations
Sherry Zheng
718.213.7386
ir@ispiretechnology.com
KCSA Strategic Communications
Phil Carlson
212.896.1233
ispire@kcsa.com
PR Contact:
Ellen Mellody
570.209.2947
ispire@kcsa.com
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SOURCE Ispire Technology Inc.