LAS VEGAS, May 24, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- The 4Less Group, Inc. (FLES) is pleased to announce that its wholly owned subsidiary the 4Less Corp. (“4Less”, or the “Company”) the owner of Liftkits4less.com (www.liftkits4less.com) (“Liftkits”) has launched its small manufacturer program. The goal of this program is to work with small manufacturers who have demonstrable demand from consumers for their products but who are still too small to have the resources necessary to raise their profile in a meaningful way with the broader market and who lack the necessary resources to scale the fulfilment of their orders.
4Less will leverage its newly redesigned backend and fulfilment system as well as its warehousing capabilities in order to assist these manufactures in raising their profile and significantly increasing their sales. For all products that 4Less distributes for these manufactures, 4Less expects margins to be approximately 50% higher than current margin levels on other distributed products. As well, 4Less expects to receive an equity stake in these manufacturers of up to 10%, which could prove to be very lucrative in the future.
“This program is a great way for us to significantly increase margin and profitability by utilizing our already existing infrastructure,” said Christopher Davenport, President and CEO of The 4Less Corp, “We just launched the program and already we have some parties who are interested in potentially partnering with us as there is a very real need for our program in this sector of the market.”
The Company continues to seek innovative ways to further penetrate the market and increase profitability as part of its expansion plans.
About The 4Less Group, Inc.
With the recent final closing of the acquisition of the 4Less Corp., FLES is focusing all of their efforts and resources on building out their fast growing ecommerce automotive specialty equipment parts and accessories company with highly targeted "niche" web sites.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements, including information about management's view of the Company's future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Factors that could cause results to differ include but are not limited to, successful performance of internal plans, product or services development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct (i) its own forward-looking statements, except as required by law, or (ii) those prepared by third parties that are not paid for by the Company.
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President and CEO of The 4Less Group, Inc.