KAIVAL BRANDS INNOVATIONS GROUP, INC. GRANT, Fla., July 15, 2021 /PRNewswire/ -- Kaival Brands Innovations Group, Inc. (OTCQB: KAVL) ("Kaival Brands," the "Company," or "we"), the exclusive global distributor of products manufactured by Bidi Vapor, LLC ("Bidi Vapor"), today announced that Bidi Vapor has been granted two copyright protections and two patents by China.
The first patent, China Patent No. 202020067263.5, is a utility model patent, and relates to the nozzle components of the Bidi Stick. The nozzle components play an integral role in delivering a more consistent experience than other products on the market. The second patent, China Patent No. 202030052391.8, is a design patent that covers the entire Bidi® Stick product. Bidi Vapor has also secured copyrights for both the Bidi® Stick and Bidi® Cares names. These copyrights add another layer of authentication, with a unique label now on every Bidi® Stick product.
The vape product category in China is potentially enormous. Statista Data projects the China combustible cigarette market to top $220B in 20211. Vape products are quickly gaining market share in China and if a mere 10% of combustible cigarette smokers transition to vape, China would be a $22B vape market opportunity. To put that in context, Grandview Research anticipates the US vape market to reach $7.4B in 20212.
"The copyright and patent protection representations received from China are the first step in our planned journey to introducing the Bidi® Stick into one of the world's largest markets for vape products, China. I look forward to advising the Company in my role as a board member in interfacing with potential distribution partners in China" said George Chuang, independent director, Kaival Brands.
Recently, the Chinese government has significantly elevated their oversight in the market and is exceptionally focused on consumer protection. Given Kaival's position as industry standard-bearer in regards to compliance, youth access prevention, and overall product offering integrity, China's new regulatory efforts are very much welcomed by Kaival, as the Company welcomes federal regulatory scrutiny and enforcement in general.
"Receiving two patents from China, along with copyright protections, should enhance our efforts to more effectively eliminate counterfeit players from the market, and being afforded these protections within a difficult market further validates our best-in-class product lineup" says Niraj Patel, Founder and Chief Executive Officer of Kaival Brands and Bidi Vapor. "Both Bidi Vapor and Kaival Brands are adamant about exceeding compliance standards in every global market, and as such our products are intended exclusively for adults 21 and over.
Mr. Patel went on, "These patent and copyright protections significantly bolster our global intellectual property protection portfolio – we now have intellectual property protections in the United States, European Union, Australia, and China. We believe this puts us in a strong position to pursue new global markets that we have already received regulatory approval to enter."
Added Eric Mosser, Chief Operating Officer of Kaival Brands, "These new Chinese patents and copyrights reflect another global market recognizing our efforts, which will support our goal of remaining best-in-class."
Mr. Patel, the Company's President, Chief Executive Officer, and Chief Financial Officer, owns and controls Bidi Vapor. As a result, Bidi Vapor and the Company are considered under common control and Bidi Vapor is considered a related party.
Bidi Vapor's founding mission is to provide recreational, non-combusted alternatives to adult cigarette smokers. Both Kaival Brands and Bidi Vapor are vehemently opposed to all illegal underage tobacco use, including ENDS use, by minors. We are committed to preventing youth use of ENDS, responsibly marketing to adult tobacco users 21 and over, working with law abiding retailers and distributors, and complying with all federal and state laws and taxes applicable to the distribution of the BIDI®️ Stick and the BIDI®️ Pouch including, but not limited to, the Family Smoking Prevention and Tobacco Control Act ("TCA"), the Food, Drug and Cosmetic Act ("FDCA"), and the Prevent All Cigarette Trafficking ("PACT") Act. We are further committed to developing science to support the continued marketing of our products as appropriate for the protection of the public health and engaging with state and federal authorities to promote enforcement and the removal of counterfeit, non-compliant and youth-targeting ENDS products from the market.
ABOUT BIDI VAPOR
Based in Melbourne, Florida, Bidi Vapor maintains a commitment to responsible marketing, supporting age-verification standards and sustainability through its BIDI® Cares recycling program. The Company's premiere device, the BIDI® Stick, is a premium product made with medical-grade components, a UL-certified battery, and technology designed to deliver a consistent vaping experience for adults 21 and over. Bidi Vapor is also adamant about strict compliance with all federal, state, and local guidelines and regulations. At Bidi Vapor, innovation is key to our mission, with the BIDI® Stick promoting environmental sustainability, while providing a unique vaping experience to adult smokers.
For more information, visit www.bidivapor.com.
ABOUT KAIVAL BRANDS
Based in Grant, Florida, Kaival Brands is a company focused on growing and incubating innovative and profitable products into mature and dominant brands in their respective markets. Our vision is to develop internally, acquire, own, or exclusively distribute these innovative products and grow each into dominant market-share brands with superior quality and recognizable innovation. Kaival Brands is the exclusive global distributor of all products manufactured by Bidi Vapor.
Learn more about Kaival Brands Innovations Group, Inc., at www.kaivalbrands.com.
1 https://www.statista.com/statistics/493214/global-e-cigarettes-dollar-sales/ |
2 https://www.grandviewresearch.com/industry-analysis/us-e-cigarette-vape-market |
Forward-Looking Statements
This press release includes statements that constitute "forward-looking statements" within the meaning of federal securities laws, which are statements other than historical facts that frequently use words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "position," "should," "strategy," "target," "will," and similar words. All forward-looking statements speak only as of the date of this press release. Although we believe that the plans, intentions, and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions, or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied, or forecasted in such statements. Our business may be influenced by many factors that are difficult to predict, involve uncertainties that may materially affect results, and are often beyond our control. Factors that could cause or contribute to such differences include, but are not limited to, the approval of our application for listing on the Nasdaq Capital Market; the duration and scope of the COVID-19 pandemic and impact on the demand for the products we distribute; the actions governments, businesses, and individuals take in response to the pandemic, including mandatory business closures and restrictions on onsite commercial interactions; the impact of the pandemic and actions taken in response to the pandemic on global and regional economies and economic activity; the pace of recovery when the COVID-19 pandemic subsides; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; the effects of steps that we could take to reduce operating costs; our inability to generate and sustain profitable sales growth; circumstances or developments that may make us unable to implement or realize anticipated benefits, or that may increase the costs, of our current and planned business initiatives; changes in government regulation or laws that affect our business; significant changes in our relationships with our distributor or sub-distributors; and those factors detailed by us in our public filings with the Securities and Exchange Commission. All forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. Except as required under the federal securities laws and the Securities and Exchange Commission's rules and regulations, we do not have any intention or obligation to update any forward-looking statements publicly, whether as a result of new information, future events, or otherwise.
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SOURCE Kaival Brands
