UMeWorld Announces Strategic Cooperation With China's
Fastest-Growing Household Goods Retailer MINISO
HONG KONG, CHINA
-- February 18, 2020 -- InvestorsHub
NewsWire -- UMeWorld Limited (OTC:UMEWF)
announced today that it has entered into a strategic alliance, with
MINISO, one of China's fastest-growing household goods retailers
with total sales of USD 2.6 Billion in 2018.
Since its founding in 2013,
by adhering to the business philosophy of "High Quality and
Affordable Price" and through the transformation of the supply
chain, MINISO has developed a unique and novel business model in
the retail space. It has opened more than 3,500 stores worldwide,
with one billion visits and 300 million purchases having been made
by its guests. MINISO is considered to be the representative
enterprise in the new retail era, with an impressive speed of
expansion.
Through this cooperative
association, UMeWorld plans to bring Proud Kids, its newly acquired
online Junior English language training brand, to MINISO's millions
of online fans and customers. As part of this partnership, MINISO
will launch a series of copyrighted "Proud Kids'" picture book sets
in 2,000 of its' stores throughout China. Each Proud Kids picture
book set, which is designed to engage children between the ages of
three and nine years, comes with two complimentary online trial
English instruction lessons.
The picture books target
three different academic levels - Level K, Level Lower school and
Level Intermediate school. The books, through pictures and audio,
explore facts about animals, their names, the sounds they make, the
foods they eat, their daily activities and where they live, all in
a kid-friendly, captivating format. The two complementary live
instruction sessions are designed as a learning extension of the
book set. Customers read the books and the audio materials as a
warm-up to the online sessions. Then, they practice the English
language subject matter, in real time, with online English
teachers. The Company expects that upwards of 5% - 8% of
book
purchasers will
enroll in the full 120-session, award-winning Proud Kids' instructional package,
retailing for RMB 6,696 (USD 971).
This cooperative arrangement will allow
Proud Kids to extend its reach beyond its existing market in
several northeastern cities to all major cities throughout China.
The agreement also offers MINISO the opportunity
to invest up to RMB 20 million (USD2.9 million) into the Company,
to facilitate UMeWorld's up-listing to Nasdaq, as soon as
practicable.
Proud Kids recorded 200%
year-over-year revenue increase in 2019 and expects to carry that
growth momentum into 2020. The Company is optimistic
that this affiliation with MINISO will generate a predictable,
long-term revenue stream and growth for both companies through
this commercial structure,
with a marketing
plan that will generate attractive dividends well into the
future.
About
UMeWorld
We are an educational
technology company and a visionary player in the online educational
landscape in China. UMFun, our K-12 flagship product, is a
cloud-based assessment and learning analytics platform that can
intelligently analyze and adapt to a student's performance and
personalizes the delivery of proprietary educational items in
accordance with their individual learning needs. UMFun is made
available to Chinese K-12 students through China Mobile, the
world's largest mobile service provider by network scale and
subscriber base, serving over 887 million customers. Working with
China Mobile, we are levelling the educational playing field by
providing affordable and quality education to millions Chinese K-12
students in China.
About Proud
Kids
Proud Kids is a leading
online English education platform in China. We connect native
English-speaking tutors from the UK, North America and South Africa
with young learners between the ages of 4-12 years in China. We
partner local English teachers with native English-speaking tutors.
With our own interactive curriculum that aligns with China's
English education curriculum, teachers teach on a 1-on-4 small
class model, guiding students through fun and dynamic learning
experiences. We are poised to build lasting growth across the
world.
Forward-Looking Statements
This press release contains
forward-looking statements made under the "safe harbor" provisions
of Section 21E of the Securities Exchange Act of 1934, as amended,
and the U.S. Private Securities Litigation Reform Act of 1995. In
some cases, these forward-looking statements can be identified by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to," "confident," "future," or other
similar expressions. UMeWorld may also make written or oral
forward-looking statements in its reports filed with or furnished
to the U.S. Securities and Exchange Commission, in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Any statements that are not historical
facts, including statements about or based on UMeWorld 's current
beliefs, expectations, assumptions, estimates and projections about
us and our industry, are forward-looking statements that involve
known and unknown factors, risks and uncertainties that may cause
our actual results, performance or achievements to be materially
different from those expressed or implied by the forward-looking
statements. Such factors and risks include, but not limited to the
following: UMeWorld's goals and growth strategies; its future
business development, financial condition and results of
operations; competition in our industry; fluctuations in general
economic and business conditions in China; dependence on key
personnel; and assumptions underlying or related to any of the
foregoing. You should not place undue reliance on these
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. All
information provided, including the forward-looking statements
made, in this press release are current as of the date of the press
release. Except as required by law, UMeWorld undertakes no
obligation to update any such information or forward-looking
statements to reflect events or circumstances after the date on
which the information is provided or statements are made, or to
reflect the occurrence of unanticipated events.
For more
information, please contact:
Ruby Hui, Executive Vice
President
UMeWorld Limited
E-mail: info@umeworld.com
Telephone: 86 20 2231
9506
