CVSL And Tomboy Tools Sign Letter Of Intent
OPENS DOOR TO HOME IMPROVEMENT AND HOME SECURITY MARKETS
DALLAS and DENVER, July 12, 2013 /PRNewswire/ -- Tomboy Tools, Inc., an Entrepreneur Magazine "Top 100 Brilliant Company," and CVSL Inc. [stock symbol: CVSL] announced today that they have signed a letter of intent for Tomboy Tools to become part of CVSL's family of direct selling companies.
Founded in 2000 by Chief Executive Officer Janet Rickstrew and Chief Technical Officer Mary Tatum, Tomboy Tools sells a line of tools ergonomically designed to be comfortable for women, through an independent sales force throughout the US and in Canada. The company's sales force offers its customers hands-on home improvement education through home tool parties.
In addition to its line of more than 75 tools, Tomboy offers a state-of-the-art GE wireless home security system, with 24/7 monthly fee-based monitoring and several different security packages to choose from.
Tomboy Tools has been featured in articles in many national publications, such as Woman's Day Magazine, Better Homes and Gardens, Brides Magazine, Family Circle, Readers Digest and All You Magazine, as well as HGTV's Design Star, NBC Nightly News and The Today Show. The company donates a percentage of all profits to organizations that help women, for purposes including women's shelters and breast cancer research, as well as animal welfare charities.
CVSL Chairman John Rochon noted that the U.S. market for power and hand tools is estimated at $11 billion annually, while the market for residential and small business electronic security system sales, installation, monitoring and service in the U.S. and Canada is estimated at $13 billion. "Both of these markets offer enormous potential for direct selling, and Tomboy Tools has found a unique way to serve both markets," he said.
"During the past decade, we've built a loyal following and shown that education along with tools designed especially for women have great appeal. Now, we're ready to take the next step of going public, so we can bring our story and our business opportunity to even more women. Becoming part of CVSL will give us the perfect way to grow. We're so excited to move forward and become the newest member of the CVSL family," said Ms. Rickstrew.
Mr. Rochon said that Tomboy Tools will be an excellent fit as part of CVSL's strategy. "Tomboy Tools is what I call a gazelle, meaning a promising company with a great product line that's ready for fast growth," said Mr. Rochon. "We look forward to having it join us under the CVSL umbrella."
Television personality and home improvement expert Paige Hemmis, host of ABC's Extreme Makeover: Home Edition recently partnered with Tomboy Tools to help encourage women to enjoy home projects and share "how-to" knowledge.
About CVSL (www.cvsl.us.com)
CVSL Inc. is an innovative public company pursuing a strategy of gathering together multiple companies in the direct selling, or micro-enterprise, sector. Each company maintains its own separate brand identity, leadership and product line, while achieving efficiencies through sharing of back office resources and best practices.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements that involve risks and uncertainties. All statements other than statements of historical fact contained in this press release are forward-looking statements. We have attempted to identify forward-looking statements by terminology including "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," or "will" or the negative of these terms or other comparable terminology. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. These statements are only expectations and involve known and unknown risks, uncertainties, and other factors, including the risks outlined under "Risk Factors" in our Annual Report on Form 10-K for our fiscal year ended December 31, 2012 and those discussed in other documents we file with the Securities and Exchange Commission, which may cause our actual results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements to differ materially from expectations. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations.
SOURCE CVSL Inc.
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