NEW YORK, Jan. 28, 2020 (GLOBE NEWSWIRE) — Mohawk Group Holdings, Inc. (NASDAQ: MWK) (“Mohawk”) the tech-enabled, consumer product company, today announced that it has launched its proprietary AIMEE software platform on Amazon’s Marketplace Appstore.
The Marketplace Appstore is a one-stop-shop where the small- and medium-sized businesses that sell on Amazon can more easily discover quality applications to help them automate, manage and grow their business. Accessible from Seller Central, the Marketplace Appstore features applications created by Amazon and external developers and covers a range of functionalities and service offerings.
“The launch of our AIMEE app is an exciting step in the evolution of our Software-as-a-Service (SaaS) growth strategy,” said Mohawk Group chief executive officer, Yaniv Sarig. “We are now able to reach a wider audience of potential customers, especially small and medium sized businesses that sell on Amazon. At the same time, we continue to focus on traditional brick and mortar brands looking to maximize their direct-to-consumer operations. We are very excited about the growth prospects that we believe lie ahead for Mohawk, which include higher margin opportunities through our SaaS offering as well as the launch of more of our own products in existing and new categories.”
About Mohawk Group Holdings, Inc.
Mohawk Group Holdings, Inc. and subsidiaries (“Mohawk”) is a rapidly growing technology-enabled consumer products company that uses machine learning, natural language processing, and data analytics to design, develop, market and sell products. Mohawk predominantly operates through online retail channels such as Amazon, and Walmart. Mohawk has incubated and grouped four owned and operated brands: hOme, Vremi, Xtava and RIF6. Mohawk sells products in multiple categories, including home and kitchen appliances, kitchenware, environmental appliances (i.e., dehumidifiers and air conditioners), beauty-related products and, to a lesser extent, consumer electronics. Mohawk was founded on the premise that if a company selling consumer packaged goods was founded today, it would apply artificial intelligence and machine learning, the synthesis of massive quantities of data and the use of social proof to validate high caliber product offerings as opposed to over-reliance on brand value and other traditional marketing tactics.
Forward Looking Statements
All statements other than statements of historical fact included in this press release that address activities, events, or developments that we expect, believe, or anticipate will or may occur in the future are forward-looking statements including, in particular, the statements about our ability to successfully deploy, market and sell our SaaS product offering, launch products and to expand our product offerings,, our technology platform and its ability to disrupt the consumer products industry; our ability to gain market share; and our ability to penetrate new categories. These forward-looking statements are based on management’s current expectations and beliefs and are subject to uncertainties and other factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to, those related to our cash flows and revenue growth rate; customer adoption, development of our AIMEE software platform to meet needs of third parties, our supply chain, sourcing, manufacturing and warehousing; international tariffs and trade measures; inventory management, product liability claims, recalls, or other safety concerns; reliance on third-party online marketplaces; seasonal and quarterly variations in our revenue; acquisitions of other companies and technologies; and other factors discussed in the “Risk Factors” section of our most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), including in our final prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on June 13, 2019, all of which you may obtain for free on the SEC’s website at www.sec.gov. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Ilya Grozovsky, Mohawk Group
Brendon Frey, ICR