- ToughBuilt entered the Stacking Tool Storage and Toolbox market for the first-time beginning
October 19 th, 2023, with an initial roll out of more than 25 SKUs.
- StackTech™ is the world’s first auto-locking stacking tool storage solution with 14 unique features.
- The Toolbox category is projected to expand at a CAGR of 8.3% from 2022 to 2032, with an expected market share of
USD 6.8 Billion by 2032, according to a 2022 market research report*.
This innovative new storage ecosystem and its accessories have debuted through a leading US home improvement retailer and will expand globally across the Company’s growing strategic networks of international trade partners and buying groups. ToughBuilt's launch into the stacking Toolbox category has swept social media with an early preview of the product line, garnering more than 19 million impressions in just two weeks.
Find out what the Pros are saying:
BLUE COLLAR NERD PODCAST
DEN OF TOOLS
TOOLGUY’D
The StackTech system brings innovative solutions to a rapidly growing market, projected to expand by a compound annual growth rate (CAGR) of 8.3% in the ten-year period between 2022 and 2032, according to a
1 Future Market Insights Report. (06/2022). Tool Boxes Market by Material, Product Type, End User & Region - Forecast 2022 - 2032- Future Market Insights https://www.globenewswire.com/news-release/2022/07/20/2482850/0/en/Tool-Boxes-Market-is-Expected-to-Reach-US-6-8-Billion-and-Exhibit-Growth-at-a-CAGR-of-8-3-in-the-2022-to-2032-Future-Market-Insights-Inc.html
ABOUT
ToughBuilt is an innovative advanced product developer, manufacturer, and distributor with emphasis on innovative products, currently focused on tools and other accessories for the professional and do-it-yourself construction industries. We market and distribute various home improvement and construction product lines for both the do-it-yourself and professional markets under the TOUGHBUILT brand name, within the global multibillion dollar per year tool market industry. All of our products are designed by our in-house design team. Since launching product sales in 2013, we have experienced significant annual sales growth. Our current product line includes three major categories, with several additional categories in various stages of development, consisting of Soft Goods & Kneepads and Sawhorses & Work Products. Our mission is to provide products to the building and home improvement communities that are innovative, of superior quality derived in part from enlightened creativity for our end users while enhancing performance, improving well-being and building high brand loyalty. Additional information about the Company is available at: https://www.toughbuilt.com/.
FORWARD-LOOKING STATEMENTS
This press release contains “forward-looking statements.” Such statements include, but are not limited to, statements regarding the intended use of proceeds from the offering and may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) the impact the war in
Investor Relations Contact:
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8f5d4bff-80df-44ef-b446-49c29864c527
ToughBuilt, industries
ToughBuilt, industries
2023 GlobeNewswire, Inc., source