ToughBuilt Industries Inc. (NASDAQ: TBLT) stock declined by 0.41% at the last close whereas the TBLT stock price gained by 9.60% in the after-hours trading session. ToughBuilt is a leading product developer, producer, and distributor with a focus on cutting-edge technology. Currently, their concentration is on tools and various accessories for the construction industry, both professional and do-it-yourself. Within the worldwide multibillion-dollar per year tool market, the market and sell numerous home renovation and construction product lines under the TOUGHBUILT brand name for both the do-it-yourself and professional markets.
The in-house design team creates all of their items. They’ve had strong annual sales increase since commencing product sales in 2013. Soft Goods & Kneepads, Sawhorses & Work Products, and Soft Goods & Kneepads are the three key categories in their present product line, with numerous additional categories in various phases of development.
TBLT stock’ Current Development
ToughBuilt Industries reported the debut of two new product lines, ToughBuilt lasers and levels, which are accessible through its international partners and buying groups, which serve 14,400 locations across the world. ToughBuilt Connect, the Company’s smartphone app, is fully connected with its unique lasers, allowing professional and DIY builders to rapidly measure rooms, instantly post information to a phone, and generate shareable information at the touch of a button.
ToughBuilt started with five different stock-keeping units for its levels and three different SKUs for its lasers. These lines are now available for purchase through global partners, with an e-commerce launch planned for 2022. ToughBuilt Connect, ToughBuilt’s mobile app, is available for free download from the App Store or Google Play.
Michael Panosian, ToughBuilt’s CEO, stated that,
With the debut of their first technology-enabled product, which is linked with their mobile app, they are quite excited. This is the first of many new ToughBuilt tools expected to challenge the home renovation sector, and it is the product of years of research and development. They’ve had a lot of success with their product introductions so far, and they’re optimistic that these new ones will continue to exceed their consumers’ expectations.
