SHANGHAI, Nov. 12, 2018 /PRNewswire/ -- Acorn
International, Inc. (NYSE: ATV) ("Acorn" or the "Company") today
announced that its 11.11 Singles Day e-commerce performance for its
Babaka brand exceeded Gross Revenue (before taxes and returns) of
RMB 8.5 million in the first two
hours of shopping and ended the day at about RMB 13.6 million up from RMB 7.8 million for the full day last year. New
product category entrant Acorn Fresh, selling high-quality frozen
seafood to Chinese consumers, also performed well on its inaugural
11.11 selling day, and other parts of the business also had a
strong day of sales. Singles Day, also known as Double Eleven for
its date, was first introduced ten years ago as a day to celebrate
lonely hearts. Today, Singles Day is the world's largest online
shopping day, eclipsing Black Friday and Cyber Monday by a large
margin.
Mr. Jacob A.
Fisch, Acorn's President and CEO noted, "We are thrilled
with the performance of our e-commerce channel this Singles Day.
We've been able to deepen our sales channels on platforms such as
Tmall and JD.com as well as expand into streaming media and onto
new online platforms, while keeping our product mix relevant to the
needs of Chinese consumers. We look forward to building on this
success as we continue to focus on growing e-commerce sales in the
future."
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,
leading 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,
including the duration and intensity of the US-China trade war,
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:
Compass Investor
Relations
|
Ms. Elaine Ketchmere,
CFA
|
Phone:
+1-310-528-3031
|
Email:
Eketchmere@compass-ir.com
|
www.compassinvestorrelations.com
|
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SOURCE Acorn International, Inc.