NEW YORK, April 16, 2020 /PRNewswire/ -- SparBar Inc., the original pioneer of SparBar™ boxing, Mixed Martial Arts (MMA) and fitness equipment, is pleased to announce a corporate update on a number of key fronts, including the recent increase in sales due to the COVID-19 pandemic.
SparBar Inc. has seen both its sales and revenues increase by 300% per month during the period of January to April, due in part to the recent stay-at-home campaigns that have been implemented the world over by government leaders. In the face of such an unprecedented and positive response, SparBar has begun to hire additional staff and has reached out to logistic service providers in order to mitigate its backlog and expedite its shipments around the globe. Effective immediately, Sparbar has engaged New York-based GE Logistics Inc. to manage fulfillment demands in the United States and Canada.
SparBar Inc. is pleased to update the public as follows:
Pursuant to our plans, we invested significantly in inventory while putting into place the necessary relationships to ship Sparbar™ products throughout the world. As we outlined in our March 3rd press release, we continue to invest in the protection of our intellectual property, including our overall branding, trademarks, and design rights, having engaged an international legal team to aggressively pursue infringement and counterfeiting of our unique products.
Amongst the various social distancing measures imposed by the world's governments, we are seeing a growing interest in the SPARBAR™ Pro and SPARBAR™ Compact Series. These combat training tools provide an intense, thorough workout for their users without the need to break social distancing orders.
Sparbar™ creator and CEO Jasvinder "Jazz" Singh Gill, is 'delighted with the response our products have received' over the past two months. "We hope to see this pandemic conquered quickly, but we're very happy to see SparBar™ equipment helping so many new and existing customers get a great workout while they're stuck in their homes," said Gill.
Managing Director Kenny Lam said he is 'not surprised' by the recent strong growth in SparBar™ sales. "We have a truly great product and have always been extremely confident in our brand," said Lam. "Social distancing guidelines have only helped confirm our strengths while introducing them to an entirely new group of enthusiasts: you no longer need to leave your home or be in close proximity with someone else to get a complete and thorough workout."
About SparBar Inc.
SPARBAR™- THE WORLD-FAMOUS SPARRING PARTNER: A global sports fitness brand, SparBar is proud of its position as the inventors of the global combat sensation known the world over as SPARBAR™. Founded in 2013 and backed by over 20 years of real boxing experience, we have single-handedly changed the fight game with our innovative concept of training without a sparring partner.
Used by world champions, international celebrities, world-leading gyms and with over 200M+ social media video views, SparBar's success ensures that we are not just pioneers, but game-changers in the combat sports training equipment market. SparBar™ is the key to learning core fundamental boxing skills and developing hand-eye coordination as you build footwork, balance, speed, stamina, accuracy and power, simulating realistic sparring in a safe environment. To purchase our products please visit www.SparBar.com
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy, product development and potential success, as well as technological and/or other factors and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, and financial. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our dependence on third-party suppliers and partners; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks. Important factors that may cause the actual results to differ from those expressed within may include, but are not limited to: the success or failure of SparBar's efforts to successfully market its fitness and sports brand products and services; SparBar's ability to attract and retain quality employees; the effect of changing economic conditions; increased competition; the ability of Sparbar to obtain adequate equity financing. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
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SOURCE SparBar Inc.