New Marketing Partner to Support the Expanded
Sales of OPKO-Branded Products Throughout China on Additional
E-Commerce Platforms, in Brick-and-Mortar Retail Locations and
Launch In-Country Digital Marketing Programs
COCONUT
GROVE, Fla., July 2, 2024
/PRNewswire/ -- NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or
the "Company"), a global e-Commerce provider, today announced that
it has expanded its e-commerce development program in China through a new agreement with a leading
Chinese healthcare and nutritional products marketing and
distribution services partner (the "Marketing Partner"). The
Marketing Partner will provide NextPlat with a full range of
creative content, brand marketing and product sales and
distribution services and support the Company's exclusive
joint e-commerce development agreement with OPKO Health Europe
("OPKO"), a subsidiary of OPKO Health, Inc. (NASDAQ: OPK).
As a marketing specialist in China, the Marketing Partner currently
supports international healthcare and nutritional products
companies including Nature Made and ITO, and provides logistics,
warehousing and distribution services throughout China. The
Marketing Partner has successfully developed and executed brand
awareness campaigns for healthcare products on dozens of e-commerce
sites such as Alibaba's Tmall, JD and Temu, and on digital/social
platforms such as TikTok, Xiaohongshu, Weibo, Bilibili and WeChat.
The Marketing Partner also supports product distribution into
physical stores such as pharmacies, convenience stores and
supermarkets, as well as into major U.S.-based retail chains
operating in China including
Costco and Sam's Club. The Marketing Partner is developing a series
of digital product promotion programs for select OPKO products
which are expected to contribute to NextPlat's Chinese e-commerce
sales later this year. These marketing programs may include
utilizing well-known Chinese social media influencers, live
videos/broadcasts on social media platforms, and articles and
product blogs designed to introduce OPKO products to potentially
millions of consumers.
"Our unique e-commerce development program was created to
provide American companies with turn-key online sales, marketing
and distribution access into the large Chinese consumer market
without requiring the significant international infrastructure
investments typically required. Through the addition of
well-established marketing specialists in China, we believe we can provide our clients
with a greater array of value-added services which can help drive
product awareness and revenue," said Charles M. Fernandez, Executive Chairman and CEO
of NextPlat.
According to TMO Group (Health & Food Supplements,
China Market, April 2024), China, with its rapidly growing
middle class, shows increasing interest in lifestyle and many
non-prescription health options with increases in income levels
supporting an emphasis on health and wellness. The report cites
data from Euromonitor International, showing that over the past
five years, the health supplement market (including vitamins and
dietary supplements (VDS), sports nutrition, weight management and
wellbeing, and herbal/traditional supplements) in China has steadily increased, reaching
approximately 387.9 billion RMB
(approximately $53.3 billion) in
2023, with a compound annual growth rate of 9.6%. It is expected
that by 2028, the health supplements market in China will exceed 440
billion RMB (approximately $60.5
billion). The TMO Group report also indicates that the
online channel is the most important channel for VDS products,
especially for cross-border imported products and that in 2023,
health supplements from the U.S. and Australia were the first choices for Chinese
consumers.
"Today's new healthcare products marketing partnership in
China broadens our digital and
physical reach, including potentially dozens of additional online
platforms as well as brick-and-mortar retailers across the country.
Importantly, we can offer a valuable array of digital and social
media promotion capabilities provided by a partner who has built a
strong client portfolio in China,
allowing us to significantly enhance the marketing of our initial
OPKO products," said David Phipps,
President of NextPlat and CEO of Global Operations.
NextPlat's e-commerce development program, held in coordination
with local Florida chambers of
commerce, initially aims to help Florida-based businesses and manufacturers
market and sell their products to potentially millions of new
customers. The development program features NextPlat's turnkey
global e-commerce solution and leverages the capabilities and reach
of key partners including Alibaba and its Tmall Global platform,
and additional in-country marketing and distribution specialists
who support cross-border solutions enabling global brands to reach
Chinese consumers.
For more information about NextPlat, please visit
www.NextPlat.com and connect with us on Facebook and X.
About NextPlat Corp
NextPlat is a global e-commerce
platform company created to capitalize on multiple high-growth
sectors and markets including technology and healthcare. Through
acquisitions, joint ventures and collaborations, the Company
intends to assist businesses in selling their goods online,
domestically, and internationally, allowing customers and partners
to optimize their e-commerce presence and revenue. NextPlat
currently operates an e-commerce communications division offering
voice, data, tracking, and IoT products and services worldwide and
pharmacy and healthcare data management services in the United States through its subsidiary,
Progressive Care Inc. (OTCQB: RXMD).
Forward-Looking Statements
Certain statements in this
release constitute forward-looking statements. These statements
include the capabilities and success of the Company's business and
any of its products, services or solutions. The words "believe,"
"forecast," "project," "intend," "expect," "plan," "should,"
"would," and similar expressions and all statements, which are not
historical facts, are intended to identify forward-looking
statements. These forward-looking statements involve and are
subject to known and unknown risks, uncertainties and other
factors, including the Company's ability to launch additional
e-commerce platforms, sell healthcare products in China, and its ability to grow and expand as
intended, any of which could cause the Company to not achieve some
or all of its goals or the Company's previously reported actual
results, performance (finance or operating), including those
expressed or implied by such forward-looking statements. More
detailed information about the Company and the risk factors that
may affect the realization of forward-looking statements is set
forth in the Company's filings with the Securities and Exchange
Commission (the "SEC"), copies of which may be obtained from the
SEC's website at www.sec.gov. The Company assumes no, and hereby
disclaims any, obligation to update the forward-looking statements
contained in this press release.
No Offer or Solicitation
This press release is for
informational purposes only and is not intended to and shall not
constitute an offer to sell or the solicitation of an offer to sell
or to buy any securities or a solicitation of any proxy, consent,
vote or approval with respect to any securities in respect of the
proposed transaction between NextPlat and Progressive Care Inc.
("Progressive Care") and is not a substitute for the Proxy
Statement/Prospectus or any other document that NextPlat or
Progressive Care may file with the SEC or send to NextPlat's or
Progressive Care's stockholders in connection with the proposed
transaction. No offer, sale, issuance or transfer of securities
shall be made in any jurisdiction in which such offer, sale,
issuance or transfer would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
Media and Investor Contact for NextPlat Corp:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net
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SOURCE NextPlat Corp.