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- Leading Aussie furniture manufacturer Inventis has partnered up with Winya Indigenous Furniture in a new supply agreement
- In line with the new agreement, Inventis will issue 30 million shares to Winya’s executives at the next General Meeting. In exchange, Inventus is set to acquire a 49 per cent interest stake in the Indigenous-owned company
- Winya will have access to all of the product offering owned by Inventus, who in return has earned the potential to increase their furniture division’s annual revenue by roughly A$1 million
Leading Aussie furniture manufacturer Inventis has partnered up with Winya Indigenous Furniture in a new supply agreement.
The distribution deal with the established Indigenous outfitter will be executed by Inventis’ subsidiary company, Inventis Gregory. The company specialises in creating economic seat technology for corporate and government offices.
In line with the new agreement, Inventis will issue 30 million shares to Winya’s executives at the next General Meeting. In exchange, Inventus is set to acquire a 49 per cent interest stake in the Indigenous-owned company.
The shares will be issued in three trenches, with 10 million options offered in the next 12 to 24 months at A$0.005, a further 10 million shares issued between 24 and 36 months for A$0.01, and a final 10 million offered from 36 to 48 months at A$0.02.
Winya will have access to all of the product offering owned by Inventus, who in return has earned the potential to increase their furniture division’s annual revenue by roughly A$1 million.
Winya is a majority-owned and Indigenous controlled furniture provider. The company supplies large-scale workstation fitting and boardroom fixtures to clients such as the NSW Government, Department of Defence and the ATO.
Independent of government funding, Winya is described as a “profit for purpose” business, operating a training program that focuses on supporting indigenous employment growth. The company’s director, Debbie Barwick, also sits on NSW’s Indigenous Chamber of Commerce Board.
“I am very excited to be working with Inventis Gregory to increase Indigenous employment opportunities in Western Sydney whilst enhancing Winya’s product offerings by working with Australia’s leading commercial furniture manufacturer,” said Debbie.
Inventus has said it will continue to seek out other strategic partnerships to complement the agreement with Winya. The company’s flagship design remains its Australian manufactured, Italian designed and European engineered Dual Density mark II EOS chair technology.
“This is a great opportunity for Australian manufacturing to partner and ensure the growth and future development of Australian Indigenous business,” explained Inventis Director Anthony Mankarios.
“The alliance also allows Gregory an opportunity to supply its superior ergonomic chairs to a wider corporate market,” Anthony continued.
The ASX-listed Inventus’ market cap is currently valued just over A$2 million. The company’s stocks have stayed steady today, currently up for grabs at 0.3 cents apiece.
