MGO Global Expands Brand Portfolio with Licensing of Direct-to-Consumer Product Brand, "Stand Flagpoles"
MIAMI, FL / BUENOS AIRES, ARGENTINA / LONDON, UK and NEW YORK, NY / ACCESSWIRE / March 20, 2023 / MGO Global Inc. (NASDAQ:MGOL), operator of The Messi Store, ("MGO" or the "Company") today announced that in connection with the potential acquisition of the assets of Stand Co, LLC ("Stand"), MGO has obtained a royalty-free, worldwide and exclusive license to the assets of Stand, including all of its current inventory of certain flagpoles and related accessories, its ecommerce platform and customer database, among other digital and non-digital assets.
A direct-to-consumer (DTC), digitally native brand, Stand specializes in offering a line of high quality, residential flagpoles, American flags, solar flagpole light kits, flagpole finials, patriotic-themed apparel and other products directly to its customers.
Commenting on the transaction, Maximiliano Ojeda, Co-Founder, Chairman and CEO of MGO, stated, "Expanding our portfolio of high quality DTC brands serving niche markets is a key growth objective for MGO in 2023 and one of the goals that we are intent on achieving. We believe that the Stand Flagpoles brand was founded on the same ideals and values as MGO and shares our high standards for product excellence. For this reason, we believe that it represents an addition to our portfolio that can materially benefit from our end-to-end, data-driven brand-building platform to accelerate and optimize its long-term growth. We have chosen to initially license the assets of Stand to take advantage of the prompt revenue generation that the brand can provide to MGO, while we advance towards finalizing a definitive agreement to acquire the assets."
Continuing, Ojeda added, "Moving forward, we anticipate demonstrating through our financial performance the strength of MGO's proprietary, Artificial Intelligence-powered, algorithm-driven DTC marketing system pioneered by our Chief Marketing Officer, Matt Harward. Our tech-led approach to building DTC brands is positively impacting growth of The Messi Brand and is expected to empower our team to rapidly penetrate markets for other lifestyle brands that we create, acquire or license in the future. Presuming we complete the Stand acquisition, we look forward to providing details on how MGO intends to transform it into a robust DTC lifestyle brand with its own unique identity that speaks to and resonates with smart-targeted consumers."
About MGO Global Inc.
Founded in October 2018 and headquartered in Florida with remote employees and specialty contractors in London, New York and Latin America, MGO Global is a performance-driven lifestyle brand portfolio company focused on direct-to-consumer (DTC) digital commerce. Guided by its deep understanding of data analytics, personality-driven trust and algorithm-driven marketing and distribution, coupled with its leadership's track records of success and industry relationships and expertise, in late 2018, the Company launched its first DTC brand - The Messi Brand, which is a premium line of functional and sporty casual wear, accessories and homewares inspired by legendary pro soccer player Leo Messi and found at www.TheMessiStore.com. For more information on MGO Global, please visit www.mgoglobalinc.com.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its business and The Messi Brand and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company's products and the Company's customers' economic condition, the impact of competitive products and pricing, successfully managing and perpetuating the Company's licensing rights with Leo Messi Management, general economic conditions and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.
CONTACT INFORMATION:
FOR MEDIA AND INVESTOR RELATIONS
MGO Global Inc.
Dodi Handy, Director of Communications
Phone: +1 407-960-4636
Email: dhandy@mgoteam.com
SOURCE: MGO Global
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