Eightco Holdings Inc. (NASDAQ:OCTO) announced today that its subsidiary, Forever 8, has renewed and expanded an Inventory Management Agreement (IMA) with Mobi-hub Ltd. (Mobi-hub), a prominent electronics distributor that specializes in premium refurbishment of electronics, most notably, mobile devices. The IMA will guide existing business activities for the upcoming year, as well as provide additional growth opportunities that stand to benefit both companies in the future.
The IMA will allow Forever 8 to provide inventory management solutions for Mobi-hub, enabling them to expand their global sales efforts while Mobi-hub focuses on other aspects of their business. The IMA includes minimum order quantities that exceed those of fiscal year 2022, giving Forever 8 the ability to better forecast inventory needs and be prepared to meet increased demand. The updated IMA will also allow Forever 8 increase its presence in the refurbished cellular phone market, which is projected to reach $66.8 billion in global sales by [date]1.
