Stran & Company, Inc. (NASDAQ: STRN) shares were flat early Friday as the company, a leading outsourced marketing solutions provider that leverages its promotional products and loyalty incentive expertise, secured a major contract with a leading North American infrastructure services company to provide promotional products and services. The program is expected to launch in the fourth quarter of 2022 and is projected to generate over $1 million annually.
CEO Andy Shape commented, “We are pleased to have been selected by this premier infrastructure services company to execute on their promotional marketing program with a goal of increasing their market awareness and customer loyalty. This client came as a referral from an existing customer of ours, which we believe further validates the quality of our service-based offering and clear value proposition. We look forward to working closely with this new customer and anticipate this contract will drive meaningful high margin annual revenue for Stran with potential expansion opportunities.”
Over the past 27 years, Stran has grown to become a leader in the promotional products industry, specializing in complex marketing programs to help recognize the value of promotional products, branded merchandise and loyalty incentive programs as a tool to drive awareness, build brands and impact sales. Stran is the chosen partner of many Fortune 500 companies, across a variety of industries, to execute their promotional marketing, loyalty and incentive, sponsorship activation, recruitment, retention, and wellness campaigns.
STRN shares lost two cents, or 1.2%, to $1.68.