Hapbee Technologies Inc (TSX-V:HAPB, OTCQB:HAPBF) scored a major retail coup by securing a spot for its Smart Sleep Pad on the shelves of 104 Target retail stores and on Target.com.
The move follows a purchase order commitment from Target, the sixth-largest retailer in the United States.
Hapbee's Smart Sleep Pad, which has quickly become the company's top-selling product since its late 2022 launch, will be available to Target customers starting in October 2023.
The company's shares jumped 38.5% following the announcement to around C$0.09 in Canada.
The Smart Sleep Pad harnesses ultra-low radio frequencies to provide a non-chemical, all-natural solution to optimize sleep.
In a statement, Yona Shtern, CEO of Hapbee, highlighted the importance of this collaboration. "Target will broadly expand our reach and enable us to meet the sleep needs of a larger audience of wellness-focused customers. Sleep represents an obvious entry point for Hapbee, and this purchase order is an important next step in our long-term distribution and product strategy."
Hapbee's Smart Sleep Pad users have already exceeded 1 million unique playback sessions for sleep and focus in 1Q 2023, underscoring the product's effectiveness and adoption, according to the company.
Vancouver-based Hapbee is a digital wellness technology company that aims to help people take control of how they sleep, perform and feel.
Contact Angela at angela@proactiveinvestors.com
Follow her on Twitter @AHarmantas