Rapper Flo Rida and his company Flo Fit Holdings have partnered with Digital Shelf Space to enter the health and fitness category.
The exclusive licensing agreement will see the multi-platinum recording artist’s name, trademarks and image used on a number of products in the category including an exercise video series.
DSS and FLO Fit Holdings now own 85 percent and 15 percent, respectively, of a newly formed operating company, created exclusively for the new business enterprise.
Flo Rida will take part in a three-city launch tour for the new series, and will make six personal appearances over the course of the five-year deal to help market and promote the fitness series and products.
"Flo Rida is an advocate of health and lifestyle, his physical appearance supports that, and as a brand he has more than 17 million fans on Facebook and over 5 million followers on Twitter. He is truly a global brand,” says Jeffrey Sharpe, president and chief executive officer, DSS. “We are looking to commence the production of a new extreme home-based fitness video series starring Flo Rida this summer. From there we have ambitions together to add a number of new ancillary products, apparel, apps and more all under a single brand."
In addition to the new fitness partnership, DSS and Flo Rida have agreed to a private placement subscription agreement in which Flo Fit Holdings will purchase $110,000 in common shares of DSS at 15 cents a share.