ECMOHO Limited (Nasdaq: MOHO) (“ECMOHO” or the “Company”), a
leading integrated solutions provider in the health and wellness
market in China, is pleased today to announce a strategic
cooperation agreement with well-known South Korean pharmaceutical
company, ChongKunDang Group (hereafter referred to as “CKD”), in
providing global marketing and multichannel sales for one-stop
retail solutions for CKD’s health products in China. With advanced
equipment and cutting-edge technology as its foundation, CKD will
be able to provide Chinese consumers with high-quality, diversified
healthcare products, including probiotics, via ECMOHO’s established
and extensive domestic distribution channels.
ECMOHO, as a leading online retail service provider of health
products in China, has cooperated with well-known domestic and
foreign healthcare brands such as Harbin Pharmaceutical, ONLLY,
Jiangzhong Pharmaceutical, Bayer, and Puritan’s Pride, among
others. Given ECMOHO’s extensive experience in customer data
collection and analysis, new product trend research, and digital
marketing and promotion in the domestic health food market, the new
partnership will provide CKD with an in-depth analysis of various
user groups, including China’s Generation Z. Since the beginning of
2021, ECMOHO has expanded to new social media platforms, such as
TikTok and Kuaishou, and involved key opinion leaders (KOLs) and
key opinion consumer (KOC) resources to promote and distribute
professional content and empower its business partners to achieve
more efficient and rapid growth in the China market.
CKD was founded in 1941 and is one of South Korea’s longest
standing pharmaceutical companies, with nearly a century-long
history. Its probiotic brand LACTO-FIT has maintained a leading
position in the South Korean probiotic market since its debut, and
has won the Korean national “Functional Health Food Award” for 3
consecutive years. Upon debuting in the Chinese market in May 2020,
LACTO-FIT won the praise of Chinese consumers and saw sales soar to
RMB 100 million, creating a supply of high-end health products that
meet consumer demands for high quality, effective health foods.
Ms. Zoe Wang, Chairman and CEO of ECMOHO, commented: “With
China’s booming domestic health food industry, ECMOHO provides
invaluable sales and marketing services for CKD’s many brands via
channels such as Tmall, JD, Koala, TikTok, and Kuaishou, which
cover many categories of nutrition and healthcare products. The
partnership will be mutually beneficial, as ECMOHO and CKD work
together to introduce high-quality health products to Chinese
consumers.”
“With the rise in living standards, Chinese consumers are
demanding better health products, leading to growth and expansion
of many health industries. Among them, probiotics has been
relatively popular in recent years, which involves daily
supplements, health foods, medicines, and even pet products,”
continued Ms. Zoe Wang.
Mr. Li Xin CFO of ECMOHO, added: “Due to an acceleration in the
pace of work and life and increases in physical and mental
pressures, consumers have turned to probiotics for improving
immunity and digestion, in particular to help with nutrient
absorption and reducing intestinal inflammation. Probiotics also
help with indigestion and congenital lactase deficiency, and have
other obvious health benefits. Data shows the probiotic market in
China is growing at 10-15% per year; in 2015 it was RMB 48.6
billion, in 2020 it reached RMB 84.9 billion. However, the demand
for probiotics has become increasingly personalized and the market
lacks sufficient high-end products with improved efficacy and
quality that fully meet the needs of many consumers.”
ECMOHO’s cooperation with CKD was chosen after thorough
consideration and in-depth analysis of the health food industry,
and having proposed a new development strategy. As the demand for
low- and medium-end health foods plateaus, introduction of
high-quality products will be the driver of consumer demand.
Meanwhile, ECMOHO will also develop customized probiotic products
to meet the needs of different consumer groups with diverse health
conditions.
ECMOHO’s full-scale, extensive domestic marketing network, built
up over 10 years, will help ensure CKD’s high-end probiotic
products can quickly reach Chinese consumers from all cities and
regions, including those in domestic low-tier cities, as well as
attract young consumers through novel tastes and diverse product
offerings. ECMOHO’s nearly 11 million paying users is expected to
help drive the demand for CKD’s high-quality probiotic products.
CKD, through continued research and development technology in
probiotics, will ensure the continued improvement of its products’
efficacy and quality, creating significant advantages in the
Chinese high-end health food market.
About ECMOHO Ltd.
ECMOHO is a leading integrated
solutions provider in the health and wellness market in China. The
company curates and sells the best global brands and quality
products to Chinese health-conscious consumers. Our technology,
network and expertise in marketing and distribution empower us to
connect families with advanced health supplements, nutrition and
food items, personal care products, household healthcare equipment
and other wellness products. Through over ten years of operation,
ECMOHO has established an ecosystem of trusted products and
relationships to provide customized solutions which promote health
regeneration, impart therapeutic benefits, and increase longevity
to our devoted consumers to sustain health. For more information,
please visit http://ir.ecmoho.com/
For investor and media inquiries, please contact:ECMOHO
Ltd.Investor RelationsEmail: IR@ecmoho.com
Forward-Looking Statements This press
release contains statements, which may constitute "forward-looking
statements" within the meaning of the Securities Act of 1933 and
the Securities Exchange Act of 1934, as amended by the Private
Securities Litigation Reform Act of 1995. Those statements include
statements regarding the intent, belief or current expectations of
the Company, and members of its management as well as the
assumptions on which such statements are based. When the Company
uses words such as "may," "will," "intend," "should," "believe,"
"expect," "anticipate," "project," "estimate" or similar
expressions that do not relate solely to historical matters, it is
making forward-looking statements. Prospective investors are
cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those contemplated by such forward-looking statements. For these
reasons, among others, investors are cautioned not to place undue
reliance upon any forward-looking statements in this press release.
The Company undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results.
Investor Relations Agency Contact:
William Tu / Scott
PowellSkyline Corporate Communications Group, LLCOne Rockefeller Plaza, 11th FloorNew York, NY 10020Office: (646) 893-5835Email: wtu@skylineccg.com
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