iMedia Secures Exclusivity Agreement With Its Two Largest Vendors

iMedia Brands Inc IMBI has signed five-year exclusivity agreements with two of ShopHQ's largest vendors.
The vendors are Invicta Watch Company of America Inc (IWCA) and FamJams Trading LLC (Famjams).
IWCA has granted iMedia the exclusive right to market, promote and sell watches and watch accessories using the Invicta, Technomarine, S.Coifman, and Glycine brand names through its live or taped direct response video retail programming in North and South America during the five-year exclusivity period.
Famjams has granted iMedia the exclusive right to market, promote and sell products using the Medic Therapeutics and Safety Vital brand names through its television networks, website, mobile and social applications, and brick & mortar retail in North and South America, Europe, and Asia during the five-year exclusivity period.
"These agreements also provide our shareholders with the stability of continuing to enjoy the financial performance of three innovative brands that collectively generate over 20% of ShopHQ's annual revenues today," said Tim Peterman, Chief Executive Officer.
Price action: IMBI shares are up by 2.42% at $7.60 in the premarket session on the last check Monday.