SONOMAX LAUNCHES RETAIL CHANNEL INITIATIVE WITH HELP FROM THE LEADING
CONSUMER ELECTRONICS SALES & MARKETING CONSULTANCY
LEVIN CONSULTING TO ASSIST IN DEVELOPING AND EXECUTING RETAIL PILOT PROGRAM
Self-Fitting System Will Allow Consumers To Create Custom-Fit Earphones In-Store
MONTREAL, Nov. 25 /CNW Telbec/ - Sonomax Technologies Inc. (SHH:TSX Venture,) the leading developer of custom-fitted earphones plans on entering the retail marketplace immediately and has engaged Levin Consulting, the leading consumer electronics sales & marketing consultancy, to develop the plan and leverage its relationships in order to execute the strategy. Additionally, Levin Consulting will be developing a licensing program targeted at enabling headphone and Bluetooth™ manufacturers to integrate Sonomax's innovation into their retail product offerings.
Sonomax's V4 Self-Fit System instantly shapes an earpiece to a consumer's ear, on-site, with no assistance. The system can instantly create a sound isolating customized earpiece for superior audio replication and greater comfort for use with personal entertainment and mobile communication products. Levin Consulting will identify optimal retail venues for the profitable audio products, develop a marketing plan to reach favorable retail sales velocity and execute a retail launch that exposes CE licensing partners to the value that Sonomax's compelling innovation will bring to the category.
According to NPD, there is explosive growth in the $100+ earbud segment, outpacing the entire earbud category by 500%. The instant gratification consumers will experience while using Sonomax's Self-Fit System in-store will fuel further demand in the category.
"Every once in a while a product comes out that truly changes the industry - the Walkman, the ThinkPad. We believe Sonomax's Custom Fit earphones will revolutionize how people enjoy and listen to music," observed Adam Levin, CEO of Levin Consulting. "We look forward to helping them find partners in the retail channel."
The launch project entails the development of a retail launch plan designed to identify potential pilot retailers and fashioning a merchandising strategy designed to optimize messaging and functionality for consumers. The ultimate goal of the project is to help Sonomax forge a licensed partnership with manufacturers that can use "Custom-fit by Sonomax" technology to add value to their products. Levin Consulting will take the lead in business development for Sonomax, by leveraging the breadth of their relationships with retailers and consumer electronics vendors.
Levin Consulting has developed and implemented licensing projects that have generated over a billion dollars in revenues for worldwide global icons such as IBM and Sylvania. "We look forward to doing the same for Sonomax," added Levin.
"Sonomax was looking to dramatically shorten our runway to market penetration," said Nick Laperle, President and CEO of Sonomax. "We immediately recognized that Levin Consulting's team of highly experienced executives know all of the ins and outs of how to architect a successful retail strategy. Their relationships and track record of launching hundreds of products only heighten our ability to pair up with winning licensing partners."
Compensation of Levin Consulting will include a component consisting of an issuance of common shares. Based on an amount of USD $7,500 per month for the first two and one-half months and USD $5,500 for the following three months, the number of shares to be issued will be determined monthly, based on the closing price of Sonomax's common shares on the TSX-V. There will be no additional share compensation after these initial five and one half months.
About Levin Consulting
Levin Consulting is the most experienced retail channel consulting firm in the consumer electronics and technology industry. It is focused on the development of strategy and implementation plans for companies planning to increase market share, enhance margin, access new markets, and more.
Levin Consulting is results driven; It's professional staff works in conjunction with CE companies to create and implement executable strategies that achieve measurable results. In the past 22 years, Levin Consulting has assisted more than 200 technology vendors in building profitable businesses at retail such as: Apple, Texas Instruments, Dell, HP, and 3M among many, others.
About Sonomax Technologies Inc.
Sonomax is a leader in the research, development and licensing of in-ear technologies. With over 50 patents worldwide, Sonomax pioneering innovation includes instant custom-fitting earpieces that deliver the most comfortable protective and sound enhancing experience in the world as well as software driven solutions for validating earpiece performance. The latest V-4 "custom-fit by Sonomax" System offers our OEM, ODM and aftermarket clients a broader range of opportunities in customized earpieces for the Consumer, Industrial, Military and Medical markets.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of Sonomax Technologies Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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For further information:
Nick Laperle, President
Sonomax Technologies Inc.
[email protected]
514-932-2674
Chips Godfrey
Levin Consulting
[email protected]
573-289-2893
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