Singing Machine Announces New Partnership with Vendo Commerce to Grow Amazon Sales
29 Juni 2023 - 2:00PM
The Singing Machine Company, Inc.
(“Singing Machine” or the
“Company”) (NASDAQ:
MICS) -- the North
American leader in consumer karaoke products -- today announced it
has engaged Vendo Commerce (“
Vendo”) to help
maximize sales opportunities through Amazon’s leading online
platform. Vendo is a full-service digital growth company
specializing in e-commerce strategies for Amazon and Walmart.com
and is part of the PLTFRM group of companies.
PLTFRM is a creative agency specialized in
connecting consumer brands to retail with Vendo being its digital
growth partner for all things ecommerce.
“We are very pleased to launch our relationship
with Vendo,” commented Gary Atkinson, CEO of Singing Machine.
“Vendo is a well-respected firm in the e-commerce space. We believe
that they are world class experts in leveraging Amazon, Walmart and
Target in particular, and this overlaps extremely well with our
largest retail partnerships today. With Vendo’s assistance, we
believe we can expand our retail sales through Amazon to ultimately
equal or even exceed our Walmart and Target sales levels.”
“We are aggressively gearing up all facets of
our business for the coming holiday retail season. We are in
constant contact with our top big box retail partners, most notable
Walmart, Target, Costco, and Sam’s Club. Overall, we are very
pleased with our sales order commitments to date this year. Our
holiday sales pipeline remains strong.”
“From our perspective, Amazon can be a powerful
complement to our traditional brick and mortar capabilities. Vendo
has the specific expertise to maximize our visibility to the end
consumer, position our products to enhance the impression we make
at the point of sale, and improve our overall sales conversion
success rates using the Amazon platform. This is high-margin,
low-risk opportunity for our Company that could help grow our sales
on Amazon to become one of our largest retail relationships,”
concluded Mr. Atkinson.
About The Singing Machine
The Singing Machine Company, Inc. (NASDAQ: MICS)
is the worldwide leader in consumer karaoke products. Based in Fort
Lauderdale, Florida, and founded over forty years ago, the Company
designs and distributes the industry's widest assortment of at-home
and in-car karaoke entertainment products. Their portfolio is
marketed under both proprietary brands and popular licenses,
including Carpool Karaoke and Sesame Street. Singing Machine
products incorporate the latest technology and provide access to
over 100,000 songs for streaming through its mobile app and select
WiFi-capable products and is also developing the world’s first
globally available, fully integrated in-car karaoke system. The
Company also has a new philanthropic initiative, CARE-eoke by
Singing Machine, to focus on the social impact of karaoke for
children and adults of all ages who would benefit from singing.
Their products are sold in over 25,000 locations worldwide,
including Amazon, Costco, Sam’s Club, Target, and Walmart. To learn
more, go to www.singingmachine.com.
About Vendo
Vendo is a full-service digital growth company
specializing in e-commerce strategies for Amazon and Walmart.com.
With deep-rooted retail relationships and expertise, we
guide partners through digital marketplaces; enabling brands
to tell their story, spend smart and grow profitably while
gaining access to more customers. Protect your brand and sell more
with Vendo. To learn more about Vendo, please
visit: www.vendocommerce.com
Investor Relations
Contact:investors@singingmachine.comwww.singingmachine.comwww.singingmachine.com/investors
Forward-Looking StatementsThis
press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Words such
as "may", "could", "expects", "projects," "intends", "plans",
"believes", "predicts", "anticipates", "hopes", "estimates" and
variations of such words and similar expressions are intended to
identify forward-looking statements. These statements involve known
and unknown risks and are based upon several assumptions and
estimates, which are inherently subject to significant
uncertainties and contingencies, many of which are beyond the
Company's control. Actual results may differ materially from those
expressed or implied by such forward-looking statements. Factors
that could cause actual results to differ materially include, but
are not limited to, the risk factors described in the Company's
filings with the Securities and Exchange Commission. The
forward-looking statements are applicable only as of the date on
which they are made, and the Company does not assume any obligation
to update any forward-looking statements.
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