WILTON, Conn., July 20, 2015 /PRNewswire/ -- Tesoro Enterprises, Inc. (OTC: TSNP) ("Tesoro", " Company") is pleased to announce that on July 17th, its first group of flooring materials products went live on the Wayfair e-commerce site (www.wayfair.com). Under the agreement with Wayfair, Tesoro's subsidiary Fashion Floor Covering & Tile, Inc. ("FFC&T"), will process orders and ship product directly to the Wayfair customers. Wayfair will market, sell and collect payments from their customers and remit payments to FFC&T.
Wayfair (NYSE traded company, market cap $3.2 Billion) "Wayfair is one of the world's largest online destinations for the home. Through our e-commerce business model, we offer visually inspiring browsing, compelling merchandising, easy product discovery and attractive prices for over seven million products from over 7,000 suppliers across five distinct brands: Wayfair.com, Joss & Main, AllModern, DwellStudio and Birch Lane". Source: Wayfair's 10Q filing for the period ending March 31, 2015. See the 10Q for additional information.
Subsequent to this initial launch, FFC&T will load additional product bringing the total SKU's available on the Wayfair site to approximately 1500. Tesoro's CEO, Henry Boucher, said that the opening of this new market for FFC&T products through Wayfair's powerful ecommerce channel offers a significant opportunity for growth at a very low cost of entry. He added that "the Company is very excited about this chance to work with such a highly regarded partner in DIY home improvement space".
Safe harbor Statement
This press release contains forward-looking statements that reflect the Company's current expectations regarding future events. Actual events could differ materially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Tesoro Enterprises, Inc. are 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. You should not place undue reliance on the forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the Company from time to time with the Securities and Exchange Commission.
Tesoro Enterprises, Inc.
426 Danbury Road
Wilton, CT 06897
SOURCE Tesoro Enterprises, Inc.