Conversion Labs Expands to Asia Pacific Through Joint Venture
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 firstname.lastname@example.org
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.
Released July 24, 2018