Iconic Brands Inc. (OTCMKTS:ICNB)
Shares of Iconic Brands Inc. (OTCMKTS:ICNB) rallied by 3.17% after the company announced it had inked deals for two new distribution channels. A deal with retail giant Hannaford’s paves way for the company’s Bellissima Prosecco brand to go on sale in over 180 locations. The company has also inked a deal with one of the largest online retailers of wine.
Iconic Brands Inc. (OTCMKTS:ICNB) is a beverage company with core competence in the development of high-quality alcoholic beverages. In addition to developing products for itself, the company develops beverage products for third parties. The company is also engaged in the business of raising funds and identifying investment opportunities that have the potential to generate more shareholder value.
The two new distribution agreements are poised to expand the company’ sales network into new markets. Zero Sugar Sparkling, Bellissima Rose Sparkling, and Bellissima Prosecco will now be available on wine.com as part of an agreement between the two firms. Iconic Brands Inc. (OTCMKTS:ICNB) acquired a 51% stake in the Bellissima Prosecco brand late last year as part of an effort that sought to strengthen the company’s premium product portfolio.
In addition to pursuing sales in the U.S., Iconic Brands Inc. (OTCMKTS:ICNB) is in the process of expanding its footprint into Canada. Bellissima is currently in the final phase of regulatory approval in Canada as the company meets with the Liquor Control Board of Ontario. The tasting panel submission marks the final hurdle in the push to make the brand available in Canada.
The U.K is another market that Iconic Brands Inc. (OTCMKTS:ICNB) plans to expand into as part of its marketing strategy.
“We continue to make strides in both the development of our company in the public markets as well our brands in the consumer markets. I’m very excited about the opportunity in Canada,” said Iconic Brands CEO, Richard DeCicco.
Separately, Iconic Brands has retained the services of BMKR LLP Certified Public accounts as its auditor. Austin Legal Group, on the other hand, is to oversee the company’s corporate legal matters as well as compliance, filling sand negotiations.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.