Panache Innovations Inks Exclusive Trademark License Agreement for brand HYUNDAI and launches various products thereunder

Panache Innovations Limited has announced the signing of exclusive Trademark License Agreement with Hyundai Corporation Holdings Co. Ltd. for brand HYUNDAI for Batteries, Power Bank, Flashlight, Lighting, Switch, Cable, Plug Socket (Licensed Products) PAN India and launches various product under the said Brand. This is the game changer for the Company as it will open significant opportunities for the company in the Indian market.

Panache Innovations has always tried to remain a step ahead in the market by bringing the latest and fast-moving electrical & electronic products as per the need and demand of the customers. The Company's existing product portfolio under brand HYUNDAI includes LED lights, Flash lights, rechargeable torches, Power Bank and Batteries. The company is taking relentless efforts to add more and more electrical and electronic products under LED lighting vertical and CAT-6 Cables under the brand HYUNDAI before the end of December, 2020. These products are aimed to cope with the rising demand emerging from urban, semi-urban and rural part of India. The Company is confident to serve the markets through its widespread Distribution Channel across India.

HYUNDAI PRODUCT PORTFLIO

Mobile Power Banks

HYUNDAI 1000 mAh & 20000mAh Power Bank ensures that devices charge quickly and can be on the move. It has Dual-port input (Micro-USB/USBC) and Dual USB output with two-way fast charging without compromising on size and quality. The 20,000mAh highdensity Lithium polymer provides a strong power backup. It can retain up to 100% of its full capacity even after 500 recharge cycle Both USB type-A and USB type-C ports can provide power to charge two devices at the same time. With 20000mAh capacity it can charge a 3000mAh phone battery up to 4 times and charge a 4000mAh phone battery 3 times. The power bank has intelligent input and output controls and LED indicators for a seamless experience.

Dry Cell Batteries & Alkaline Batteries

Hyundai Dry cell Batteries are made from improved anti-corrosion components and new zinc composition resulting in anti-leakage & better shelf life. It is designed to provide reliable and lasting performance for both high and low power consumption devices. This unique technology enables better performance after storage, over-discharge, and high temperature. It works with a variety of devices including digital cameras, game controllers, toys, clock, Keyboards & mouse, various Medical Devices and using proprietary technology, these batteries provide excellent anti-leakage performance during storage and over-discharge use.

LED Flashlight / Torches

Hyundai LED Flashlight/ torches are designed with an aim to provide ease to take the brightness of LED with customer. With extensive range of Battery-operated torches & Power efficient rechargeable LED Torches, it has increased the discharge time due to intensity or power selection via switch, Hyundai LED torch has a modern look to it. The sleek design is easy to grip and prevents slip off. It has bright illuminance that helps to see in the dark up to 1000 meters. Hyundai torches can be the favorite travel companion!

LED Lightings

The Hyundai Led Bulb 7W, 9W & 12W Led Bulb are aimed to light up thousands of lives across India. This economical option for CFL or glass lamp uses a new technology of plastic-aluminium thermal management which offers a longer life with maximum efficiency. Additionally, the design of the shell cover is such that it provides omni-directional lighting effect for your interior space.

Hyundai Inverter Emergency bulb & Inverter LED Batten, are the perfect lighting backup during power cuts and can be used in your study/drawing room and bathroom at home, retail shops and hospitals. It has 2200mAh Lithium battery which gives continuous lighting back up to 4 hours and takes 4 hours for full charging.

Commenting on the development, Mr. Prakash Vichhivora, Managing Director, "We at Panache Innovations are privileged that we have got an opportunity to be associated with a global and well-known brand "HYUNDAI" as Brand Licensee of Hyundai for India and offer our valued customers various products under the said brand. As we have received an overwhelming response for our current product portfolio, we are more focused and prepared to add new products under the Brand HYUNDAI to meet the customer needs.

He further added, "We are giving special attention & efforts towards enhancement of corporate tie-ups with Ecommerce Industry leaders by becoming their Special Vendor Partners for company's respective business category. We constantly try to create distinction by way of forward-looking approach and ability to deliver the best to our consumers. Our Company strongly supports Make in India initiative by the Government of India in the Electronics domain by strengthening the tie-ups with the manufacturers in India.

Also Indian LED lighting market stood at $ 918.70 million in 2016, and is projected to grow at a CAGR of 24.66%, in value terms, during 2016-2022, to reach $ 3.8 billion by 2022, on account of increasing government initiatives to boost LED adoption and growing awareness regarding lower power consumption of LED lighting products. Indian power bank market is projected to grow from around $ 98 million in 2017 to $ 255 million by 2023, exhibiting a CAGR of over 16% during the forecast period. Citing the domestic opportunities in these product lines, we would be bringing across renowned Hyundai products as a substitute to imports and proudly positioned as "Made in India" products."

Shares of Panache Innovations Ltd was last trading in BSE at Rs.27.45 as compared to the previous close of Rs. 26.7. The total number of shares traded during the day was 26505 in over 36 trades.

The stock hit an intraday high of Rs. 28 and intraday low of 27.3. The net turnover during the day was Rs. 731619.

Source : Equity Bulls

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