SHANGHAI, July 2, 2018 /PRNewswire/ -- Acorn International, Inc. (ATV) ("Acorn" or the "Company") is celebrating its 20th anniversary.
Co-founded in 1998 by Executive Chairman Robert Roche, Acorn's business was originally focused on direct sales of various consumer products in Beijing, and soon expanded to cover all of mainland China. Acorn has a strong track record of developing and promoting trusted brands in China, including its widely popular Babaka posture correction products, Youngleda oxygen generating products, Yierjian fitness products and Aoya cosmetics. Through much of its history, Acorn focused on the marketing and branding of its branded products through TV direct sales, and at one point was the largest TV direct sales operator in China. Following a downturn in the TV direct sales business which began in 2014 and was precipitated by regulatory changes in China, Acorn has been focusing on turning around the business. It has been focused on profitably growing certain of its legacy brands, with an emphasis on e-commerce, while streamlining operations, reducing overhead expenses and selling non-core assets as it shifts towards an asset-light model. Today, Acorn is incubating new business units such as Acorn Fresh and Acorn Entertainment, which target attractive addressable markets in China.
"Over the last 20 years, Acorn has been building well-known brands in China and marketing them directly to consumers," said Executive Chairman Robert Roche. "We have successfully steered our Company through a number of challenges and are continuing to make progress in reinvigorating the business."
"As we shape Acorn for the future, we remain true to our past by leveraging our key strengths in marketing and branding, insights into the needs of Chinese consumers and delivering desirable, high quality brands and products," said Mr. Jacob A. Fisch, CEO and President of Acorn. "We are working hard on expanding our core businesses and are optimistic about the prospects for our new business units, Acorn Fresh and Acorn Entertainment, in the future. We continue to emphasize our mission statement, which is displayed prominently in one of our main conference rooms: 'Bringing the best of the world directly to the Chinese consumer.'"
About Acorn International, Inc.
Co-founded in 1998 by Executive Chairman Robert Roche, Acorn is a marketing and branding company in China with a proven track record of developing, promoting and selling a diverse portfolio of proprietary-branded products, as well as well-established and promising new products from third parties. Its business is currently comprised of two main divisions, its direct sales platforms and its distribution network. For more information visit www.acorninternationalir.com.
Safe Harbor Statement
This news release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "estimates," "expects," "future," "going forward," "intends," "outlook," "plans," "target," "will," "potential," and similar statements. Such statements are based on management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.
Acorn International, Inc.
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