ATLANTA, GA, Feb 07 (Marketwire) --
Liberator, Inc. (OTCQB: LUVU) today announced the signing of a new
three-year, $17 million exclusive marketing and distribution agreement
with TENGA Co., Ltd.
OneUp Innovations, Inc., the operating company of Liberator, has been the
exclusive U.S. distributor for Tokyo-based Tenga since 2010. Under the
new agreement, OneUp Innovations has agreed to purchase JPY 1.25 billion
of TENGA products for sale and distribution in the United States over the
next three years. At current exchange rates and at current selling
prices, this represents approximately $17 million in wholesale sales
revenue for Liberator.
"The Tenga line of male masturbators is the number one selling male sex
toy in Japan and we believe Liberator is the best partner to continue our
expansion in North American," said Mr. Koichi Matsumoto, CEO of Tenga.
"We are extremely pleased that TENGA has decided to continue our
partnership as we work with them to reach the next level of success in
the U.S.," stated Louis Friedman, CEO of Liberator, Inc. "Over the last
three years we have greatly expanded the sales and distribution of TENGA
products through traditional adult channels as well as drug store, mass
market and other mainstream channels including emerging internet flash
sites. We expect this trend to gain momentum as more and more mainstream
adult male consumers begin to appreciate the sexual wellness benefits of
the full line of TENGA products."
The TENGA male sexual enhancement devices are innovative in their
function and product design, shaped and sized in such a way that they
look and feel like any other toiletry a man would normally carry or use
while at home or on the road.
Originally posted here