On August 6th, according to a statement on the official website of Ispire Technology Inc. (NASDAQ stock code: ISPR), Ispire announced that its subsidiary, Aspire North America LLC, has signed a 30-year global exclusive licensing agreement with Hidden Hills Club. This marks the company's entry into the global nicotine products market.
According to the agreement, Ispire will be responsible for the global manufacturing, distribution, and commercialization of Hidden Hills brand nicotine products, such as low-risk e-cigarettes.
The first batch of Hidden Hills nicotine products is expected to launch in the United Arab Emirates and South Africa within the next few weeks, followed by entry into the UK and EU markets in the coming months.
Ispire CEO Michael Wang stated,
Our partnership with Hidden Hills Club allows us to bring more innovative and low-risk nicotine products to a global audience. This 30-year exclusive licensing agreement will enable us to make significant investments in the Hidden Hills brand, ensuring strong distribution and a deep product portfolio that captures the essence of this iconic lifestyle brand. Hidden Hills, as a lifestyle brand encompassing apparel, accessories, and cannabis and industrial hemp products, has experienced explosive growth in popularity over the past two years. Collaborating with Hidden Hills will help Ispire capture this West Coast culture and energy, injecting it into nicotine products under the global Hidden Hills brand.
The CEO of Hidden Hills Club, Dre Liang, stated
Collaborating with Ispire is a strategic decision for us. Their expertise in e-cigarette technology and global distribution network provide the perfect platform for our brand to enter the nicotine products market. We believe that this partnership will redefine the market by reflecting our brand's commitment to quality and innovation through our products.
Earlier this year, Ispire partnered with Hidden Hills Club to launch "Hidden Hills & Friends," featuring a combination of the dual oil cartridge SWTCH ONE with Hidden Hills' specialty cannabis oils from Plug 'n Play, Packwoods, Big Chief, and LA Traffic, released in Nevada on February 14th.
It is estimated that by 2024, the e-cigarette and marijuana vaporizer markets will reach $29.9 billion and $11.6 billion, respectively.
According to reports, Hidden Hills Club is a cannabis alternative brand based in Las Vegas, Nevada, USA.
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