E-Commerce Storefront to Initially Support
Sales of up to 40 Personal Health and Wellness Products; Final
International Certifications and Approvals Required for Formal
Launch Expected This Quarter
COCONUT
GROVE, Fla., Feb. 5, 2024
/PRNewswire/ -- NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or
the "Company"), a global e-Commerce provider, is preparing for the
launch of its exclusive OPKO Health-branded storefront on Alibaba
Group Holding Limited's ("Alibaba")(NYSE: BABA) Tmall Global in
China following receipt of the
initial set of approvals required to operate the store in the
country.
Under terms of the exclusive joint e-commerce development
agreement with OPKO Health Europe ("OPKO"), a subsidiary of OPKO
Health, Inc. (NASDAQ: OPK) secured late last year, NextPlat is
launching an OPKO Health-branded online storefront on Alibaba's
Tmall Global e-commerce platform in China. The new online storefront will
initially list up to 40 health and wellness products featuring an
assortment of nutraceuticals for bone, joint and eye health as well
as supplements for nutrition and immunity and defense, the sales of
which will create a new international e-commerce revenue stream for
the Company. NextPlat intends to significantly expand the OPKO
online storefront with a wide array of veterinary and animal health
products, subject to final Chinese regulatory approval currently
expected during the second quarter of 2024. All in-country sales
and marketing support for the OPKO Health Tmall Global e-commerce
site is being provided by a local online specialist, a Tmall
Global-preferred merchant partner.
"We are pleased to reach this strategic milestone with our
partners OPKO and Alibaba because we believe in the global
potential of health and wellness as millions of consumers in
China and around the globe
continue to prioritize their wellbeing, contributing to the
continued growth of this large and valuable product category.
Through the launch and expansion of the OPKO Health storefront and
the planned introduction of new e-commerce healthcare offerings
later this year, we are executing on our plans to capitalize on the
many revenue growth opportunities we see in the large global
healthcare market," said Charles M.
Fernandez, Executive Chairman and CEO of NextPlat.
The sales of OPKO products in China will be managed through NextPlat and
will be made available to purchase for Chinese consumers through
Tmall Global. Tmall Global is China's leading import e-commerce platform
where consumers can access over 46,000 international brands.
David Phipps, President of
NextPlat and CEO of Global Operations, added, "Our e-commerce team
continues to work closely with the multiple international
regulatory authorities required to import, list, and sell OPKO's
market-proven health and wellness products in China. In anticipation of shortly receiving
the final governmental approvals, we continue to expand the number
of products available on the OPKO Health online storefront to
ensure we can present potentially millions of Chinese consumers
with an expansive catalogue of offerings for immediate sale on
launch day."
NextPlat's e-commerce development program, held in coordination
with local Florida chambers of
commerce, initially aims to help Florida-based businesses and manufacturers
market and sell their products to potentially millions of new
customers. The development program features NextPlat's turnkey
global e-commerce solution and leverages the capabilities and reach
of key partners including Alibaba and its Tmall Global platform, a
premier B2C cross-border solution for global brands to reach
Chinese consumers. NextPlat intends to expand this unique
e-commerce development opportunity to businesses throughout
the United States, North America as well as in Central and
South America.
For more information about NextPlat, please visit
www.NextPlat.com and connect with us on Facebook and X (formerly
Twitter).
About NextPlat Corp
NextPlat is a global e-commerce
platform company created to capitalize on multiple high-growth
sectors and markets including technology and healthcare. Through
acquisitions, joint ventures and collaborations, the Company
intends to assist businesses in selling their goods online,
domestically, and internationally, allowing customers and partners
to optimize their e-commerce presence and revenue. NextPlat
currently operates an e-commerce communications division offering
voice, data, tracking, and IoT products and services worldwide and
pharmacy and healthcare data management services in the United States through its subsidiary,
Progressive Care Inc. (OTCQB: RXMD).
About Tmall Global
Launched in 2014, Tmall Global is
Taobao and Tmall Group's dedicated channel for import e-commerce.
Addressing the increasing Chinese consumer demand for international
products and brands, Tmall Global is China's leading import e-commerce platform. It
is the premier platform through which international brands and
retailers reach Chinese consumers, build brand awareness, and gain
valuable consumer insights without the need for physical operations
in China. Today, there are more
than 46,000 brands from over 90 countries and regions on Tmall
Global.
Forward-Looking Statements
Certain statements in this
release constitute forward-looking statements. These statements
include the capabilities and success of the Company's business and
any of its products, services or solutions. The words "believe,"
"forecast," "project," "intend," "expect," "plan," "should,"
"would," and similar expressions and all statements, which are not
historical facts, are intended to identify forward-looking
statements. These forward-looking statements involve and are
subject to known and unknown risks, uncertainties and other
factors, including the Company's ability to launch additional
e-commerce capabilities for physical and digital assets, transact
business in crypto currencies and its ability to grow
and expand as intended, any of which could cause the Company to not
achieve some or all of its goals or the Company's previously
reported actual results, performance (finance or operating),
including those expressed or implied by such forward-looking
statements. More detailed information about the Company and the
risk factors that may affect the realization of forward-looking
statements is set forth in the Company's filings with the
Securities and Exchange Commission (the "SEC"), copies of which may
be obtained from the SEC's website at www.sec.gov. The Company
assumes no, and hereby disclaims any, obligation to update the
forward-looking statements contained in this press release.
Media and Investor Contact for NextPlat
Corp:
Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net
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SOURCE NextPlat Corp.