LISHUI, China, Aug. 12, 2019 /PRNewswire/ -- Farmmi, Inc.
(NASDAQ: FAMI), a leading agriculture products supplier in
China, today announced it is
testing offline stores to expand its brand presence and revenue
growth.
As part of the effort, the company is testing two brick and
mortar stores using its Farmmi Baba brand. The initial brick
and mortar stores are located in Hangzhou in the Puyan agricultural market in
the Binjiang District and the Dinghai agricultural market in
Jianggan District.
Yefang Zhang, Farmmi's Chairwoman
and CEO, stated, "We are always working to increase brand awareness
of our e-commerce platform and seeking to expand our profitable
growth. As has been seen in other product categories,
physical stores can play a hand-in-hand role in the success of
online e-commerce platforms as consumers can gain higher confidence
by seeing and trying products before buying. In our case, we
are able to open a physical presence on a very cost effective basis
because the stores we are testing are located in agricultural
markets rather than higher priced shopping malls. The
location suits us well because it is a natural location with built
in customer foot traffic for the agricultural products Farmmi
specializes in providing. We are optimistic about the
potential for physical stores but will be conservative in our
expansion plan in order to limit our potential financial
exposure."
Farmmi's brick and mortar stores will initially feature Sanpin
Yibiao agricultural products and a variety of fresh
vegetables. Sanpin Yibiao agricultural products are
high-quality geographical indication products that are organic,
pollution-free and environmentally friendly. While these
products have typically been reserved for high-end consumers, the
stores will increase access to a broader base of
consumers.
About Farmmi, Inc.
Headquartered in Lishui,
Zhejiang, Farmmi, Inc. (NASDAQ:
FAMI), is a leading agricultural products supplier, processor and
retailer of Shiitake mushrooms, Mu Er mushrooms, other edible
fungi, and many other sought-after agricultural products. The
Company's Farmmi Liangpin Market is serves as a global trading
platform for Chinese geographical indication agricultural products
and is a one of the largest platforms for consumers to access
locally sourced agricultural products. For further information,
please visit: http://ir.farmmi.com.cn/.
Forward-Looking Statements
This announcement contains
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
All statements other than statements of historical fact in this
announcement are forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties and
are based on current expectations and projections about future
events and financial trends that the Company believes may affect
its financial condition, results of operations, business strategy
and financial needs. Investors can identify these forward-looking
statements by words or phrases such as "may," "will," "expect,"
"anticipate," "aim," "estimate," "intend," "plan," "believe,"
"potential," "continue," "is/are likely to" or other similar
expressions. The Company undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results.
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SOURCE Farmmi, Inc.