February 2013, Yahoo! Finance- Liberator Signs $17 Million TENGA Distribution Agreement
ATLANTA, GA--(Marketwire - Feb 7, 2013) - 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.
About Liberator, Inc.
Liberator, Inc. is a dynamic vertically integrated public company capitalizing on the emerging sexual wellness revolution through the worldwide marketing of the Liberator® line of products. Established with the conviction that sensual pleasure and fulfillment are essential to a well-lived life, Liberator Bedroom Adventure Gear® empowers exploration, fantasy and the communication of desire, for persons of all shapes, sizes and abilities. Products include Liberator shapes and positioning systems, pleasure objects, and sensual accessories. Liberator, Inc. is headquartered in a 140,000 square foot facility in a suburb of Atlanta, Georgia. Liberator, Inc. has over 120 employees, with products being sold directly to consumers and through hundreds of domestic resellers, on-line affiliates and international licensees. The company is known for cutting-edge advertising and product branding.
For comprehensive investor relations material, including fact sheets, research reports, and videos regarding Liberator, please the Company's investor relations web site at www.invest-in-LUVU-Liberator.com.