SHANGHAI, Oct. 16, 2018 /PRNewswire/ -- Acorn
International, Inc. (NYSE: ATV) ("Acorn" or the "Company") today
announced that sales of its Babaka posture correction products
increased significantly year-over-year in the third quarter of
2018, exceeding internal forecasts as the Company expands its
presence in the e-commerce channel.
With almost a twenty-year history, Acorn's popular Babaka
posture correction products are a trusted brand for adults and
children seeking high-quality back and shoulder support. Babaka in
recent years has been sold primarily through B2C e-commerce in
China. In the third quarter of
2018, Acorn's Babaka expanded its distribution to additional online
B2C e-commerce platforms and overall saw stronger than expected
revenue growth, reaching recent historical highs. The Company
expects to release its consolidated results for the third quarter
of 2018 before the end of 2018.
Acorn's CEO and President, Mr. Jacob A.
Fisch commented, "During the third quarter, Acorn continued
to emphasize the e-commerce channel and focused on leveraging its
20 years of expertise as a leading direct marketing company in
China. I am thrilled with our
team's execution in driving the continued growth of the Babaka
brand, and we expect this strong momentum to continue as we
incorporate more online selling platforms and introduce new
products and product line extensions over
time."
About Acorn International, Inc.
Acorn International is a leading marketing and branding company
in China, leveraging a twenty-year
direct marketing history to monetize brand IP, content creation and
distribution, and product sales, through digital media in
China. Previously the leading TV
infomercial company in China,
Acorn today has three divisions support its growth: 1) Product
Division, 2) Content Division, and 3) Influencer Management
Division.
In the Product Division, Acorn sells product primarily through
e-commerce channels in China, as
well as through offline distribution and outbound marketing. In the
Content Division, Acorn monetizes content. Specifically, in the
Content Division, Acorn has redirected its direct marketing
know-how to digital media in China, launching Acorn Streaming, which is
primarily focused on live streaming and pre-recorded video content
creation and distribution. In the Influencer Management Division,
Acorn brings, through the creation of digital social content, the
best U.S. celebrity talent and brands to China, representing their in-country digital
presence. For more information visit
www.acorninternationalir.com.
Safe Harbor
Statement
This news release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "anticipates," "believes,"
"estimates," "expects," "future," "going forward," "intends,"
"outlook," "plans," "target," "will," "potential," and similar
statements. Such statements are based on management's current
expectations and current market and operating conditions, and
relate to events that involve known or unknown risks,
uncertainties, and other factors, all of which are difficult to
predict and many of which are beyond the Company's control, which
may cause the Company's actual results, performance, or
achievements to differ materially from those in the forward-looking
statements. Further information regarding these and other risks,
uncertainties, or factors is included in the Company's filings with
the U.S. Securities and Exchange Commission. The Company does not
undertake any obligation to update any forward-looking statement as
a result of new information, future events, or otherwise, except as
required by law.
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SOURCE Acorn International, Inc.