Green Innovations Ltd. to Expand into $53 Billion Pet Care Sector
MIAMI, Fla., Feb. 1, 2013 /PRNewswire/ -- Green Innovations Ltd. (OTCQB: GNIN) (OTCBB: GNIN) ("Green Innovations" or the "Company") is pleased to announce that its wholly-owned subsidiary, Green Hygienics, Inc. ("Green Hygienics"), intends to expand their current product offerings to include a selection of pet care and grooming products.
"The pet industry in North America is booming and an increasing number of pet owners are spending more money than ever before to ensure that their beloved animal family members are healthy and happy," stated Bruce Harmon, Chief Executive Officer of Green Innovations. "Expanding the number of products we offer to include a variety of pet care wipes should increase our appeal as a premier vendor with our current customers and make us more attractive to new retailers and wholesalers that would consider carrying our products."
According to a recent report by the American Pet Products Association (APPA), Americans spent approximately $52.7 billion on pet products and services in 2012, an increase of 10.5% over 2010. With an estimated 72.9 million American pet owning homes (62% of all American homes), pet care spending is expected to see an additional five years of annualized growth of 5.4%.
Products currently being considered for addition to the Green Hygienics product lineup include, multiple package formats of specifically formulated and veterinarian approved pet wipes, paw wipes, eye cleaning wipes, ear wipes, medicated anti-itch wipes, bathing wipes, and tooth cleaning products. Each pet wipe product can be made from traditional sourced paper or 100% biodegradable organically grown bamboo.
"We plan to work with our current customers and suppliers to make certain that we put together the best possible pet care product selection for consumers and to ensure the quality and supply sustainability of the new products," stated Tray Harrison, National Sales Manager of Green Hygienics. "Based on our previous dealings with our supply chain, we estimate that our new pet care product offerings should be available to retailers and distributors in the second quarter of this year."
About Green Innovations Ltd.
Green Innovations Ltd., through its wholly-owned subsidiary Green Hygienics, Inc., is the exclusive licensed North American distributor of American Hygienics Corporation's 100% tree-free bamboo-based product line, including personal care and paper-based goods. The Company provides consumers the opportunity to enjoy high-quality and performance eco-friendly goods from dedicated experts that have been producing bamboo products for over a decade, along with the cost-benefit of local raw material manufacturing, and the satisfaction of knowing that by using these products they are doing their part to reduce their carbon footprint and to continue the movement towards a more healthy and sustainable planet.
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This press release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, and specifically references to the types of new products to be offered and the timing of their expected availability. Green Innovations has not yet secured definitive agreements with suppliers to carry pet products and there can be no assurance that it will be able to do so. The reader can identify these forward-looking statements by forward-looking words such as "may," "will," "expect," "potential," "anticipate," "forecast," "believe," "estimate," "project," "plan," "continue" or similar words. The reader should read statements that contain these words carefully because they discuss future expectations, contain projections of future results of operations or of financial condition, or state other forward-looking information. Forward-looking statements include, but are not limited to, statements regarding potential products, customers, revenues, expansion efforts, and future plans and objectives of Green Innovations Ltd. ("Green Innovations"). The risk factors listed in our disclosure documents and the cautionary language on this website provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations and projections described by Green Innovations in its forward-looking statements. Actual results relating to, among other things, product launch, sales, customer acceptance and market share could differ materially from those currently anticipated in such statements. Factors affecting forward-looking statements include: consumer preferences, competition from more established brands, ability to develop market share; changes in the operating costs; changes in economic conditions, foreign exchange and other financial markets; changes of the interest rates on borrowings; hedging activities that Green Innovations develops or produces; changes in the investments levels; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which Green Innovations operates; technological, mechanical and operational difficulties encountered in connection with Green Innovations' development activities; and labor relation matters and costs. The reader should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by Green Innovations from time to time with the Securities and Exchange Commission and other regulatory authorities.
SOURCE Green Innovations Ltd.