SinglePoint Launches Hand Sanitizer Amid Widespread Shortage
March 23rd, 2020
If you’ve been paying attention to the news lately, you are aware that the coronavirus outbreak has caused the shortage of some key supplies. Top of the list are probably toilet paper and hand sanitizer. There are all kinds of stories surrounding the hand sanitizer supply; of price gouging, hoarding, using alternate products like vodka… the list goes on. The US Food and Drug Administration recently took the unusual step of encouraging pharmacists and physicians to formulate their own sanitizers with store shelves empty and the danger of unsafe home solutions lurking.
SinglePoint Inc. (OTCQB: SING), a holdings and investment company currently involved in the solar, hemp, and technology industries, recently announced the launch of a new line of hemp-infused moisturizing hand sanitizer. The Klēn Hands Hemp Infused Hand Sanitizer was first made available on March 13, can be ordered at www.klenhands.com, and is expected to ship on March 23.
Small, Nimble Company
SinglePoint has an advantage over many companies, as it is already well-versed in operating in many diverse industries at once. SinglePoint’s main revenue source is a solar installation brokerage called Direct Solar of America. That aspect of the company is growing exponentially but wouldn’t necessarily indicate the readiness or capability to move into the hand sanitizer market.
SinglePoint also has consumer product experience, with a variety of hemp and CBD-based products available on its SingleSeed consumer website. The company has full product-cycle capabilities, from formulation through packaging, selling, and delivery. From this platform, the jump into hand sanitizer is pretty straightforward.
The company is looking to sell directly to consumers through the Klēn Hands website while also leveraging its existing distribution network. SinglePoint currently distributes CBD and hemp products to retail stores and plans to seamlessly insert the new sanitizer line throughout its footprint.
SinglePoint CEO Greg Lambrecht stated, “It is beneficial that we have a manufacturing facility already making other CBD/Hemp products and the relationships to quickly get supplies. This product is the right time and the right place. We are very happy with how quickly we were able to put it all together and believe this product will be on retail shelves year-round as a permanently stocked item. Our goal is to fulfill orders rapidly to assist retailers in providing an additional, differentiated product that meets current market demand. We will continue to build out the product mix as the market settles back in. Our management team has deep ties to Washington State, the hardest hit area to date in the United States and we plan to launch additional resources to help combat this virus and help provide reliable information to consumers and the general public.”
While SinglePoint continues to build its Direct Solar and SingleSeed businesses, it realized an opportunity (rooted both in entrepreneurial spirit and a desire to help people) and moved quickly to make it a reality. Sometimes being a smaller company has its advantages, and sometimes the better smaller companies grow to be larger ones. Keep an eye on this one.
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