Kaival Brands Innovations Group, Inc. (NASDAQ: KAVL) the exclusive U.S. distributor of all vapor products manufactured by Bidi Vapor, the BIDI® Stick today announced it has reached a three-year extension agreement with QuikfillRx.
Over the course of the year so far, Kaival Brands Innovations Group Inc has made considerable progress on several fronts and it could be a good idea for investors to consider taking a bigger interest in it. The company, which is the exclusive distributor of Bidi Vapor LLC products in the United States, was in the news yesterday following a key announcement.
On Wednesday, the company was in the news after it announced that it had extended its agreement with QuikfillRx LLC by three more years. QuikfillRx is the company’s third party vendor and is in charge of the marketing and sales strategies of Kaival Brands. It was a significant new announcement from the company and one that could have a major impact on the company in the future.
As per the provisions of the agreement between the two companies, QuikfillRx is going to be named Kaival Marketing Services as part of a rebrand. The name change is part of the agreement so that it reflects even more prominently the company’s commitment to Kaival Brands products.
The order from the court back in August had come as a major boost for Kaival Brands since it indicated that the company could continue to market its electronic nicotine delivery system. That was a major development for the company since it was going to allow Kaival Brands to dominate a market in which many of the other companies with similar products are barred from selling theirs.
Kaival Brands Innovations currently has considerable international expansion plans owing to its distribution deal with Philip Morris International (NYSE:PM). In addition to that, the judicial stay on the MDO on its products had also helped Kaival Brands considerably as it ended up clocking higher revenues in the third fiscal quarter than in the previous quarter.