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Mohawk’s E-Commerce Platform (AIMEE) Drives 531% Revenue Growth
NEW YORK, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Mohawk Group Holdings, Inc. (NASDAQ: MWK) (“Mohawk”) the tech-enabled, ecommerce consumer products company, today announced it ranked 226th on Deloitte’s 2020 Technology Fast 500™, a ranking of the 500 fastest growing — public and private — technology, media, telecommunications, life sciences and energy tech companies in North America.
The ranking is now in its 26th year and award winners for 2020 are selected based on percentage fiscal year revenue growth during the period from 2016 to 2020. During this period, Mohawk’s revenue grew 531%.
Mohawk’s Chief Executive Officer, Yaniv Sarig, commented, “This is the second year in a row that the Mohawk team has been honored with a ranking in Deloitte’s Technology Fast 500. In these challenging times, our 531% revenue growth has been a testament to the strength of our AIMEE platform and the agility of our supply chain.”
About Deloitte’s 2020Technology Fast 500™
Now in its 26th year, Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2016 to 2020. In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000, and current-year operating revenues of at least $5 million. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the “Deloitte” name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms.
About Mohawk Group Holdings, Inc.
Mohawk Group Holdings, Inc., together with its 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 seven owned and operated brands: hOme, Vremi, Xtava, Truweo, Holonix, Aussie Health 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.
CONTACT: Investor Contact: Ilya Grozovsky, Mohawk Group firstname.lastname@example.org 917-905-1699