Miami, FL – March 23, 2020 (EmergingGrowth.com NewsWire) — EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on Luvu Brands Inc. (OTCQB: LUVU).
Luvu Brands, Inc. designs, manufactures, and markets various wellness, lifestyle, and casual seating products worldwide. The company offers Liberator Bedroom Adventure Gear, a product line that consists of differently shaped cushions and props under the Liberator brand; sex furniture pieces, which are marketed under the Esse, Flip Stage, Equus Wave, and the Prelude brands; and products based on shredded polyurethane foam under the Zeppelin brand. It also provides a line of contemporary casual seating under the Jaxx brand; and comfort products that aid in sleep, meditation, and relaxation under the Avana brand.
Average daily volume for LUVU 16 thousand shares. Today’s news has caused the volume to increase to over 3.2 million shares in the morning hours of trading.
Luvu Brands Inc. Press Release:
Luvu Brands Inc., a designer, manufacturer and marketer of a portfolio of consumer lifestyle brands, said Monday it is retooling its operations to help combat the shortage of personal protective masks that faces hospitals, health-care workers and consumers.
The small company said it hopes to produce 100,000 masks weekly.
“In response to the growing Covid-19 crisis, last week I directed my product design team to develop a medical face mask that we could produce in high-volume from readily available materials,” Chief Executive Louis Friedman said. “That mask is now in production and we are ramping up.”
The masks the company is making are made with a removable 5-layer carbon infused PM 2.5 filter insert, and are held in place by two adjustable elastic straps with a metal adjuster on the nose. They are intended for reuse and can be washed in hot water.
Luvu Brands said it is currently in talks with both federal and municipal agencies to supply N95 masks that meet FDA standards. The company hopes to buy approved filter materials and begin prototyping.
Luvu Brands said it has 155 people who work in its 140,000 square-foot factory, and they are all subject to daily body temperature checks.
The company said its face masks will be offered for sale on Amazon.com and its website. It plans to have direct sales to private and governmental agencies shortly.
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