ADDING MULTIMEDIA Ray J Closes $31 Million Deal to Launch Raycon, his New Electric Transportation Brand
NEW YORK–(BUSINESS WIRE)–Ray J, the American singer and television personality, today announces a
new $31 million deal securing the launch of his new electronics
transportation brand Raycon. The $31 million deal, paid in the form of
equity and cash, was finalized between Ray J and Cowboy Wholesale, a
leading distributor of consumer electronics based in New York City. Ray
J takes an active full-time role in the newly formed partnership,
overseeing marketing and global branding strategy.
As the entrepreneurial CEO of his own electronics brand in 2015, Ray J
is best known for popularizing the Scoot-E-Bike, a foldable, two-wheeled
electric vehicle. Today, Ray J believes Raycon is the next evolution for
his business ventures. With a family of innovative, high-demand
electronics designed and backed by celebrities, Raycon addresses the
everyday needs of the urban technophile, focusing on impactful electric
transportation. “The world is moving towards renewable green energy, and
electric transportation is a big part of that. With the Raycon movement,
we are going to make sure we are one of the first ones there,” said Ray
J.
In the partnership, Cowboy Wholesale brings a world-class management
team and board of advisors who have collectively sold over $1 billion in
sales of consumer electronics with past executive experience in
companies such as Sony, Coby Electronics, and Pepsi. As the exclusive
distributor of Raycon products, Cowboy Wholesale has agreed to market
Raycon products through its global logistics and distribution channels,
including the United States, Asia, and Europe.
The Raycon official product launch is scheduled for mid-November 2017.
Raycon products will be available for purchase at rayconglobal.com.
Visit rayconglobal.com
for more information. Additional assets are available upon request.
About Raycon
Raycon Global (Raycon) is a consumer electronics brand founded in 2017.
Led by a team of executives and board advisors with decades of
experience, Raycon is the premier global brand for innovative,
high-demand electronics designed by celebrities. With offices based in
New York, California, South America, and China, Raycon aims to share the
excitement and benefits of new technology.
About Ray J
As the entrepreneurial CEO of his electronics brand Raytroniks and
Scoot-E-Bike in 2015, Ray J achieved rapid corporate growth by
implementing a viral organic marketing strategy. He secured product
placements through celebrities such as Sean Combs, Brandy, Snoop Dogg,
Chris Brown, Justin Bieber, Stephen Curry, Carl Delevingne, and
professional athletic teams, including the L.A. Clippers and Los Angeles
Rams. After finding success with his brands, Ray J secured a
multi-million dollar partnership with Cowboy Wholesale to form Raycon.
He currently takes an active full-time role with Raycon, overseeing
marketing and global branding strategy.
© 2017 Raycon Global Inc. All rights reserved.
Contacts
Strategic Heights Media
Michelle Huff Elliott/Simone Smalls
media@strategicheights.com
or
Raycon
Global
Frank Di Olivero
Marketing Department
marketing@rayconglobal.com
