SM8 signals wetsuit push with key hire
Shark Mitigation Systems (ASX:SM8) has signaled its about to ramp up its wetsuit sales game with a key acquisition.
The world’s only listed shark mitigation stock told its shareholders today that it had snagged ex-chief operating officer at surf brand Rusty, Simon O’Sullivan.
He was at Rusty for over a decade, include five years as COO – but was also the WA State Manager for Rip Curl.
O’Sullivan will become SM8’s general manager – with his mandate to increase sales of SM8’s shark-repelling wetsuits, SAMS.
SM8 is looking for further commercialise the technology through licensing agreements, and will also investigate direct to market opportunities – in any case SM8 says O’Sullivan’s experience in surfwear retail makes him uniquely positioned to handle the task.
“Simon brings a significant wealth of experience, having managed multi-million dollar sales, marketing and distribution operations in the surf industry,” SM8 founding director Craig Anderson said.
“We believe there are significant opportunities for our technology in the global wetsuit market and Simon is an ideal candidate to unlock this potential.”
Potential investors should note that there is no guarantee of a ramp-up in sales – this remains an early-stage stock and you should consult a professional before investing.
More on SAMS
SM8’s proprietary technology, commonly known as SAMS, has been developed in partnership with the University of Western Australia’s Oceans Institute and School of Animal Biology, meaning it truly is one of a kind, with the IP completely in SM8’s hands.
The SAMS technology is based on new molecular science and interpretation of the visual systems of large predatory sharks undertaken by the university.
SM8’s wetsuits simplify the recognition process for sharks i.e. when sharks see a surfer with a SAMS wetsuit on, the design leads the shark to identify the surfer as inedible and not like its ordinary prey.
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