Byrna Technologies Sees Record Sales as Coronavirus Fears Grow
Byrna Appoints Etienne Roux EVP of International Sales
Wakefield, Massachusetts--(Newsfile Corp. - March 18, 2020) - Byrna Technologies Inc. (OTCQB: BYRN) (CSE: BYRN) ("Byrna") has announced the appointment of Etienne Roux as Executive Vice President of International Sales & Marketing. As EVP of International Sales & Marketing, Etienne will be responsible for the development of a global sales and distribution network for the Byrna HD personal security device and accessories as well as all future Byrna products including the Company's upcoming non-lethal 12 gauge rounds and the Byrna LEO personal security device being designed for the international law enforcement market.
Etienne is ideally suited for this role, with over 10 years of successful sales and marketing management, business development and brand positioning. Most recently, Etienne was responsible for developing markets for lasers, optical sights and mil-spec communication gear for international customers in Europe, Asia, Africa and the Middle East.
Andre Buys, CTO of Byrna Technologies Inc., commented, "I'm personally very excited that Etienne has agreed to take on this role. I believe his extensive experience developing and marketing IOT technologies and high-tech products for the civilian, security and defense industries is a perfect fit for our needs." Bryan Ganz, CEO of Byrna, added, "Hiring Etienne was a really a market-driven decision. We were getting so many inquiries from dealers around the world who want to sell the Byrna HD that we had to dedicate someone full time to handling these international inquiries."
Etienne shares the sentiment. "I am excited to join such a dynamic group of self-defense enthusiasts that are passionate about bringing positive societal change and look forward to introducing cutting edge non-lethal protection technologies to distributors internationally. It is sobering to consider some of the latest concerns that are bringing consumers to purchase personal protection products, but all the more important to help ensure access to reliable non-lethal weapons for situations that require some show of force, without having to resort to the use of firearms. I believe Byrna Technologies is on track to become the leading global brand for non-lethal personal protection solutions," projects Roux.
Byrna Sales Surge on Uncertainty Created by Coronavirus Fears
The Company has seen an increase in sales as fears surrounding the Coronavirus become more widespread. During the month of February, Byrna's e-commerce sales were $89,400 with an average of 9.4 orders per day and an average order value of $317. Web traffic for the month of February averaged 957 sessions a day, giving the Company a conversion rate of 1.0% (sales / web sessions).
For the first 17 days of March online sales are already in excess of $150,000 with an average of 23 orders per day. Similarly, the average order value for the first 17 days of March has surged to $390. Likewise, web traffic for the first 17 days of March has increased 72% to 1,650 visitors a day, for a conversion rate of 1.4%.
For the last two days (March 16th and 17th), Byrna has seen record sales with more than 50 orders and over $20,000 in product sales made each day. The average sale for the two days has climbed to $425 and the conversion rate has more than doubled to almost 3.0%. "Clearly," Ganz observed, "with this growing pandemic people are concerned about their safety and want to protect their families and property. The Byrna gives them peace of mind knowing that they have a device designed for personal protection in the event of civil unrest, without the fear of taking a life or causing permanent injury."
About Byrna Technologies Inc. (CSE: BYRN) (OTCQB: BYRN)
Byrna Technologies is an emerging non-lethal technology company, specializing in the development and manufacture of innovative less lethal equipment and munitions. For more information on the Company, please visit the corporate website here or the company's investor relations site here. The Company recently launched its breakthrough Byrna HD personal security device, which looks to be the leading choice in the consumer and private security markets for non-lethal home protection, personal safety, and security.
About the Byrna® HD
A well-made, attractive, ergonomically designed, handheld personal security device, the Byrna HD is deceptively easy to use, with virtually no recoil. The Byrna HD has the size and form factor of a compact handgun and an effective range of 60 feet. It comes with multiple easily reloadable magazines that can hold five .68 caliber highly effective payload rounds designed to burst on impact. Payload rounds include the Company's proprietary chemical irritant rounds designed to burn an assailant's eyes and respiratory system upon contact, and hard kinetic rounds. The Byrna HD provides ordinary civilians - homeowners and renters, RV owners and campers, truckers, real estate agents, parents and grandparents, and anyone whose day to day travels expose them to the threat of a would be assailant- with a non-lethal, effective tool to reduce their exposure to risk and help ensure the safety of their person, property and loved ones. Lightweight, elegant, easy to use and unobtrusive to your daily activities, the Byrna HD is the perfect companion for a secure and active lifestyle.
Forward Looking Statements
The statements in this news release concerning the Company's plans to develop an international sales network, develop the Byrna brand, introduce new products, and continue to see growth in demand and e-commerce sales constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release including, but not limited to the continued availability of funds to implement existing and new marketing plans, interruptions in production or in the Company's ability to deliver products for any reason including due to parts availability, illness or quarantines, or deliveries related to the Coronavirus or trade embargos that disrupt the production or shipment of parts or finished goods, parts or finished goods product recalls, or that threaten, interrupt or negatively impact our business or financial resources or those of our suppliers or international representatives, legal developments that impact the sale of or market for the Company's products or prevent or threaten to prevent the Company's sales, negative market response to the Company's products, and negative events or publicity related to any Company product, spokesperson, announcement or endorsement that negatively impacts the Company's or any of its representatives' marketing plans or reputation. Forward-looking statements speak only as of the date they are made. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
Lisa Wager, CLO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53564
Released March 18, 2020