Innovative Designs, Inc. (OTC Pink: IVDN) has announced a remarkable 298% increase in sales revenue for the fiscal year ending October 31, 2024, reaching $1,382,733 compared to $347,763 in the previous year. This surge is largely attributed to the growing demand for the company's Evacuated (Vacuum) Cell R-6 Insultex House Wrap, a product that stands out in the market for its unique vacuum cell structure design. The company has not only surpassed its year-end projection of $1.2 million but is also experiencing robust sales into the first half of fiscal 2025, alongside the largest backorder level for Insultex House Wrap® in its history.
The success of Insultex House Wrap® is further bolstered by new government building codes that mandate continuous insulation and exterior R-Value requirements. Insultex House Wrap® is increasingly recognized as the optimal solution to meet these new standards, offering unparalleled performance, cost-effectiveness, and ease of installation. Its patented vacuum cell structure, a feature unmatched by competitors, provides the best thermal insulation possible, along with a moisture barrier and other essential benefits. This innovation translates into significant savings for new construction projects, eliminating the need for additional insulation boards or support structures.
Joseph A. Riccelli Jr., CEO of Innovative Designs, highlighted the company's transition into profitability as a pivotal achievement, crediting the team's hard work and the superior quality of the Insultex House Wrap® product line. With plans to increase production to meet the escalating demand and explore expanded marketing and sales avenues for the IDI Gear Insultex® clothing lines, Innovative Designs is poised for continued growth in 2025 and beyond. Shareholders can look forward to an upcoming conference where the company will delve deeper into its success strategies and future plans. For more information on Innovative Designs and its products, visit http://www.insultexhousewrap.com and http://www.idigear.com.
