Kaival Brands (OTCQB: KAVLD), the exclusive global distributor of products manufactured by Bidi(R) Vapor LLC, has announced that the Bidi(TM) Pouch will begin production again after being delayed because of COVID-19 restrictions. The company anticipates that the Bidi Pouch, which provides a proprietary tobacco-free nicotine formulation packed in an easy-to-go plastic can, will be launched in September. According to the announcement, production of the pouch has been moved in-house to prevent future delays and bottlenecks. Kaival Brands notes that the nicotine pouch spaces present a significant market opportunity, with a recent study showing an increase in unit sales over the past year of 59.9% in convenience stores located in the United States; MarketResearch.com has projected that the global nicotine pouches market will total an estimated $32.8 billion by the end of 2026. In addition to its announcement about Bidi Pouches, Kaival noted that the company recently completed a reverse split and is temporarily trading under the symbol KAVLD until its anticipated listing on the Nasdaq exchange. “I am pleased to confirm that we expect to take delivery of the pouch-manufacturing machines to our warehouse the end of August and anticipate beginning production in September with our first run expected to yield up to 500,000 cans,” said Kaival Brands founder and CEO Niraj Patel in the press release. “We are excited to launch distribution of the Bidi Pouch and have been working behind the scenes during COVID-based delays to secure initial distribution. To that extent, we are proud to announce that 8,000 points of distribution have been secured and are ready to receive our product.”
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About Kaival Brands Innovations Group Inc.
Based in Grant, Florida, Kaival Brands is a company focused on growing and incubating innovative and profitable products into mature and dominant brands in their respective markets. The company’s vision is to develop internally, acquire, own or exclusively distribute these innovative products and grow each into dominant market-share brands with superior quality and recognizable innovation. Kaival Brands is the exclusive global distributor of all products manufactured by Bidi Vapor. For more information about the company, visit www.KaivalBrands.com.
NOTE TO INVESTORS: The latest news and updates relating to KAVLD are available in the company’s newsroom at http://ibn.fm/KAVL
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