SHANGHAI, July 2, 2018
/PRNewswire/ -- Acorn International, Inc. (NYSE: ATV) ("Acorn" or
the "Company") is celebrating its 20th anniversary.
Co-founded in 1998 by Executive Chairman Robert Roche, Acorn's business was originally
focused on direct sales of various consumer products in
Beijing, and soon expanded to
cover all of mainland China. Acorn
has a strong track record of developing and promoting trusted
brands in China, including its
widely popular Babaka posture correction products, Youngleda oxygen
generating products, Yierjian fitness products and Aoya cosmetics.
Through much of its history, Acorn focused on the marketing and
branding of its branded products through TV direct sales, and at
one point was the largest TV direct sales operator in China. Following a downturn in the TV direct
sales business which began in 2014 and was precipitated by
regulatory changes in China, Acorn
has been focusing on turning around the business. It has been
focused on profitably growing certain of its legacy brands, with an
emphasis on e-commerce, while streamlining operations, reducing
overhead expenses and selling non-core assets as it shifts towards
an asset-light model. Today, Acorn is incubating new business units
such as Acorn Fresh and Acorn Entertainment, which target
attractive addressable markets in China.
"Over the last 20 years, Acorn has been building well-known
brands in China and marketing them
directly to consumers," said Executive Chairman Robert Roche. "We have successfully steered our
Company through a number of challenges and are continuing to make
progress in reinvigorating the business."
"As we shape Acorn for the future, we remain true to our past by
leveraging our key strengths in marketing and branding, insights
into the needs of Chinese consumers and delivering desirable, high
quality brands and products," said Mr. Jacob A. Fisch, CEO and President of Acorn. "We
are working hard on expanding our core businesses and are
optimistic about the prospects for our new business units, Acorn
Fresh and Acorn Entertainment, in the future. We continue to
emphasize our mission statement, which is displayed prominently in
one of our main conference rooms: 'Bringing the best of the world
directly to the Chinese consumer.'"
About Acorn International, Inc.
Co-founded in 1998 by Executive Chairman Robert Roche, Acorn is a marketing and branding
company in China with a proven
track record of developing, promoting and selling a diverse
portfolio of proprietary-branded products, as well as
well-established and promising new products from third parties. Its
business is currently comprised of two main divisions, its direct
sales platforms and its distribution network. 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.
Contact:
|
|
Acorn International,
Inc.
|
Compass Investor
Relations
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Ms. Margaret
Zhao
|
Ms. Elaine Ketchmere,
CFA
|
Phone:
+86-21-5151888
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Phone:
+1-310-528-3031
|
Email:
Zhaoxiaojie@chinadrtv.com
|
Email:
Eketchmere@compass-ir.com
|
www.chinadrtv.com
|
www.compassinvestorrelations.com
|
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SOURCE Acorn International, Inc.