ToughBuilt Industries, Inc. (“ToughBuilt”) (NASDAQ:TBLT, TBLTW))), is pleased to announce that the Company has reached a comprehensive distribution agreement with Sodimac, the largest home improvement and construction supplier in South America; beginning with Peru and Colombia with 15 ToughBuilt SKUs.
Founded in Chile in 1952, Sodimac is a subsidiary of the Falabella group and operates across Argentina, Brazil, Chile, Colombia, Mexico, Peru, and Uruguay, with over 250 storefronts, contributing to Falabella’s revenues.
Latin America represents a large portion of the $17.5Bn USD Global Hand Tools Market, with a projected regional growth of 3.9% CAGR through 20271. LATAM customers will now find ToughBuilt products in Sodimac’s retail locations through a branded wall display featuring some of the best-selling SKUs in the Company’s line of innovative tools.
Michael Panosian, Chief Executive Officer of ToughBuilt, stated, “As we increase our presence in marketplaces around the globe, Sodimac’s retail locations provide further opportunity for us to expand ToughBuilt’s brand awareness and overall revenue success through the capture of additional Latin American market share.”