LAKE FOREST, Calif., Dec. 10, 2015 /PRNewswire/ -- XFit Brands, Inc. (OTC: XFTB), a global supplier of fitness and MMA equipment sold at retail and fitness outlets worldwide whose brands include XFit Brands®, Throwdown®, and Transformations™, today announced that the company has relocated its corporate offices to Lake Forest, California and consolidated its U.S. warehousing footprint to a single 26,000 square foot facility.
The Company's new warehousing facility and headquarters enables the company to meet current demand from existing major fitness/gym customers and creates a showroom that demonstrates the Company's state of the art functional fitness equipment, MMA training gear and retail goods for major customers. The additional footprint also enables the company to house the inventory to be able to expand its brands to the U.S. retail market.
One of the company's key strategies is to serve as a one-stop shop for major Gym customers. The new facility enables the Company to demonstrate the breadth of XFit's capabilities to those customers, and just contributed to the securing of another major supply arrangement with one of the world's largest fitness franchises. This agreement is expected to have a material impact on the business.
XFit Brands' CEO, Dave Vautrin commented, "We badly needed to expand our facilities to keep up with demand, which is a good problem to have. This facility remedies that problem, giving us larger warehousing and support center space which makes our inventory management and supply chain operations less complex, as well as expect to reduce our costs to serve, supporting the 45% gross margin that XFit achieved this past quarter."
XFit Brands® competes in the rapidly growing functional fitness market and is a key supplier to major gym outlets. The global gym and fitness outlet reached $78 billion in revenue in 2014 according to research from the International Health, Racquet and Sportsclub Association (IHRSA). XFit Brands® has addressed the growing trend by supplying operators with its full portfolio of products allowing a one-stop-shop for major gym and fitness operators.
About XFit Brands®
XFit Brands, Inc. designs, develops, and markets and sells functional equipment, training gear, apparel, and accessories for the impact sports market and fitness industry worldwide. The Company's mission is to become the leading developer and marketer of functional fitness brands and products at retail and fitness outlets worldwide. The Company's products span the Impact Sports, Mixed Martial Arts (MMA), High and low impact fitness and Cross Training, and other Action Sports and are marketed and sold under the Throwdown®, XFit Brands®, and Transformations™ brand names. The Company's products are marketed and sold through gyms, fitness facilities, and direct to consumer throughout the world. The Company's websites are www.xfitbrands.com and www.throwdown.com.
Safe Harbor Disclosure
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends that are not historical facts, such as statements regarding our future financial condition or results of operations, our prospects and strategies for future growth, and the implementation of our marketing and branding strategies. The forward-looking statements contained in this press release reflect our current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause events or our actual activities or results to differ significantly from those expressed in any forward-looking statement. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, results, actions, level of activity, performance or achievements. Other important risk factors that may affect the Company's business, results of operations and financial position are discussed in its most recently filed Quarterly Report on Form 10-Q and in other Securities and Exchange Commission filings. The forward-looking statements contained in this press release reflect our views and assumptions only as of the date of this press release. Unless required by applicable law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
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SOURCE XFit Brands, Inc.