I’M1 to receive 8% royalty of the net sales from all licensed products plus annual advertising fees
CHARLOTTE, N.C.–(BUSINESS WIRE)–Level Brands, Inc. (NYSE American: LEVB), an innovative marketing and licensing company that provides bold, unconventional, and socially responsible branding for leading businesses, today announced its Ireland Men One (I’M1) subsidiary, a lifestyle brand for men who take pride in their appearance, thrive on quality, and value what matters, signed a licensing agreement with Gravocore, the first intelligent, portable, joint-friendly mounted fitness training machine, launched in 2017 in an exclusive partnership with Amazon.
Under the terms of the five-year agreement, Gravocore will pay I’M1 annual brand participation fees, as well as an 8% royalty on net sales of all licensed products sold under the I’M1 brand.
“Since launching in partnership with Amazon in 2017, Gravacore has received impressive customer testimonials and has been referred to as the ‘hottest new fitness equipment’ by Muscle & Fitness magazine,” says Kathy Ireland®, Chairman Emeritus and Chief Brand Strategist of Level Brands. “Gravocore is a great fit for I’M1, our millennial brand for men and the women who love them. We look forward to working with Gorgi Nikkaran, Gravocore’s founder and CEO and his incredible team in expanding the Gravocore brand in the global fitness equipment market.”
“With Gravocore, we’ve created a smarter way to work out, for almost anyone, anywhere,” says Gorgi Nikkaran. “We know Gravocore will change how the world thinks about working out and partnering with I’M1 helps us reach the broadest possible audience.”
Gravocore’s internationally-patented double pulley, rope and harness system engages the whole body so even the most intensive, heart-pumping workouts won’t leave unnecessary stress on vulnerable joints, tendons and ligaments. Almost anyone, at nearly any fitness level, can use Gravocore to increase strength, build muscles, and transform the entire body in as little as five minutes a day. Weighing less than seven pounds, Gravocore’s portability and versatility make it ideal for home and travel workouts alike.
About Level Brands, Inc. (www.LevelBrands.com)
Level Brands is an innovative marketing and licensing company that provides bold, unconventional, and socially responsible branding for leading businesses. The focus of LEVB is licensing and corporate brand management for consumer products, including art, beauty, fashion, the beverage space, health and wellness, and entertainment. License brand marketing is at the core of the Level Brands businesses: kathy ireland® Health & Wellness; Ireland Men One (I’M1), a men’s lifestyle brand established to capitalize on potentially lucrative licensing and co-branding opportunities with brands focused on millennials; Encore Endeavor One (EE1), a provider of corporate brand-management services and producer of experiential entertainment events and products across multiple platforms.
Launched in 2017 in an exclusive partnership with Amazon, Gravocore was invented by Gorgi Nikkaran as the first intelligent, portable, joint-friendly mounted training machine. With Gravocore, almost anyone—at nearly any fitness level—can increase strength, build muscles and transform the entire body in as little as five minutes a day. Lightweight and portable, Gravocore promises on-the-go total body engagement and joint-friendly fluidity of motion. Visit Gravocore.com, join Gravocore on Facebook or follow @gravocore on Instagram and Twitter.
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as ”should,” ”may,” ”intends,” ”anticipates,” ”believes,” ”estimates,” ”projects,” ”forecasts,” ”expects,” ”plans,” and ”proposes.” These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to our material dependence on our relationship with kathy ireland® Worldwide, our limited operating history, our ability to expand our business and significantly increase our revenues and our ability to report profitable operations in future periods, among others. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in Level Brands, Inc.’s Annual Report on Form 10-K for the fiscal year ended September 30, 2017 as filed with the Securities and Exchange Commission (the “SEC”) on December 26, 2017 and our other filings with the SEC. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of Inuvo and are difficult to predict. Level Brands, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law.
Craig Brelsford, 407-644-4256
Kathy Ireland® / (kiWW®)
Rona Menashe, EVP, 310-246-4600