Conversion Labs Expands to Asia Pacific Through Joint Venture
July 24 2018 - 8:06AM
NEW YORK, July 24, 2018 (GLOBE NEWSWIRE) -- Conversion Labs,
Inc. (OTCQB:CVLB) (the “Company”), an e-commerce company that
builds and scales innovative brands, today announced expansion in
the Asia Pacific region through the formation of a new 50-50 joint
venture.
Conversion Labs Asia Ltd., a 50% owned subsidiary of Conversion
Labs PR, will be responsible for replicating the Company’s direct
response marketing business in the Asia Pacific region. The
remaining 50% stake of the joint venture will be owned by a group
of strategic partners with deep experience importing, marketing and
directly selling consumer products in the Asia Pacific region.
The initial product launches will target Taiwan and Japan.
Consequently, the Company will shift focus to expansion into the
People’s Republic of China and other Asian markets.
“Asia boasts a multi-trillion dollar e-commerce market that
presents a tremendous opportunity for all of our brands,” said
Justin Schreiber, President and CEO of Conversion
Labs. “Presently, China alone has over 300 million middle
class consumers, and by 2022 this figure is expected to be over 550
million people. The expansion to Asia-Pacific is a company
milestone aligned with our goal of having a global presence.”
Elsa Sung, the newly appointed VP of Business Development at
Conversion Labs Asia, commented, “We know from our past projects
that American products resonate well with Chinese consumers. With
rapid e-commerce growth in the region, we believe there lies a
large opportunity ahead and are excited to be introducing
Conversion Labs’ portfolio of proprietary and patented
products.”
About Conversion Labs
Conversion Labs, Inc. (the "Company") is a technology-driven
e-commerce company that builds innovative and proprietary brands.
Conversion Labs’ scalable and global advertising technology
infrastructure leverages the world’s largest social media, search
and e-commerce platforms (Facebook, Google & Amazon) to rapidly
and profitably grow our continually expanding product portfolio. To
learn more about our corporate strategy, brands or for investor
relations please visit www.conversionlabs.com or email us
at info@conversionlabs.com
Forward-Looking Statements
Any statements contained in this press release that do not describe
historical facts may constitute forward-looking statements as that
term is defined in the Private Securities Litigation Reform Act of
1995. Such forward-looking statements include, among other thing,
statements regarding the offering, the expected gross proceeds, the
expected use of proceeds and the expected closing of the offering.
Any forward-looking statements contained herein are based on
current expectations, but are subject to a number of risks and
uncertainties. The factors that could cause actual future results
to differ materially from current expectations include, but are not
limited to, risks and uncertainties relating to the Company's
ability to develop, market and sell its products; the expected
benefits and efficacy of the Company's products; the availability
of substantial additional funding for the Company to continue its
operations and to conduct research and development, clinical
studies and future product commercialization; and, the Company's
business, research, product development, regulatory approval,
marketing and distribution plans and strategies. These and other
factors are identified and described in more detail in our filings
with the SEC, including, our current reports on Form 8-K.