Singer and reality TV star Ray J just announced a new $31 million deal confirming the launch of his new electronics transportation brand Raycon. The deal was confirmed yesterday between Ray J and Cowboy Wholesale, a leading distributor of consumer electronics based in New York City. Ray J will oversee marketing and global branding strategy, taking on a full-time role in the company, according to BusinessWire.
Being the entrepreneurial CEO of his very own electronics brand starting back 2015, Ray J has become well known for popularizing the Scoot-E-Bike, a two-wheeled electric, foldable vehicle. Today, Ray J is confident Raycon is the next level of growth for his business ventures. Hosting a number of innovative, high-demand electronics, designed and backed by celebrities, Raycon addresses the everyday needs of the urban techie, honing in on resourceful, electric transportation.
“The world is moving towards renewable green energy, and electric transportation is a big part of that. With the Raycon movement, we are going to make sure we are one of the first ones there,” Ray J said.
Within the partnership, Cowboy Wholesale provides a world-class management team and an advisory board that collectively sold over $1 billion of consumer electronics with prior executive experience with companies such as Sony, Coby Electronics, and Pepsi. As the exclusive distributor of Raycon products, Cowboy Wholesale agreed to market Raycon products through their global logistics and distribution channels, including but not limited to the United States, Asia, and Europe.
The official product launch is scheduled for sometime this November. All products will be available for purchase at rayconglobal.com. As we anticipate the official launch, we are proud of Ray J for his business savvy and passion to create efficient transit options.