Kure Corp., a specialty vape retailers based in Charlotte, NC, has struck a deal with shipping container specialist SG Blocks to buy 100 units for its new Kure Vape Pod initiative.
Level Brands arranged the deal between two of its license and brand management clients.
Kure has entered into a Master Purchase Agreement for the purchase of 100 SG Blocks repurposed shipping containers.
The initial six containers are scheduled for delivery in the first quarter of 2018. It is anticipated that Kure will subsequently accelerate its draw down on additional units of inventory once the initial Kure Vape Pods are operational and additional location sites are secured.
Level Brands provided a $500,000 secured project finance facility to Kure to facilitate the completion of the initial development phase.
Each of the premier Kure Vape Pod designs will utilize two SG Blocks containers. Based upon the Master Services Agreement, if all 100 units are purchased, the total contract value is expected to exceed $3,750,000.
Kathy Ireland, Chairman Emeritus and Chief Brand Strategist of Level Brands, said, “Kure, led by its incredible CEO Craig Brewer, is a leader in the vaping lifestyle movement, which we believe is healthier than tobacco and traditional cigarettes, and SG Blocks is the foremost innovator and leader in the field of repurposed, container-based structures.
“The partnership between these two revolutionary industry leaders is the first of many such synergistic opportunities and is a great example of the disruptive thinking that drives Level Brands’ business philosophy.”
Paul M. Galvin, chairman, Chief Executive and Founder of SG Blocks, added, “Our collaboration with Level Brands is off to a great start, and we are pleased the company brought us together with Kure. We are experiencing increasing demand for our eco-friendly repurposed container solutions, an important tenet for millennials, and we expect the Kure Vape Pods™ rollout to be met with great success.
“Additionally, I’m excited to be teamed with Level Brands, a company that is committed to social responsibility, with each partner, client, and licensee supporting its Millennium Development Goals to improve the condition of lives around the world.”
KURE Corp. specializes in the distribution of vaporizing pens, e-Juices, and related accessories through its specialty retail stores and online distribution.
It operates “vaporiums and lounges” and is credited with taking the vape store concept mainstream.
The initial six SG Blocks containers are scheduled for delivery in the first quarter of 2018.