NEW YORK, May 05, 2020 (GLOBE NEWSWIRE) — Mohawk Group Holdings, Inc. (NASDAQ: MWK), the tech-enabled, ecommerce consumer products company, has launched a new health and wellness brand that will feature products based on the latest data and trends in consumer behavior related to the COVID-19 health crisis. The Company expects its first product to be available for sale in mid-May 2020. This is the Company’s fifth brand and represents a new category to its growing ecommerce portfolio.
“The data surrounding demand for categories such as sanitization and protection is obviously going through the roof right now, we are leveraging our agile supply chain and analytics platform to zero in on specific needs we expect will continue to show strong demand post the COVID-19 crisis,” said Yaniv Sarig, Co-Founder and Chief Executive Officer of Mohawk Group. “The first product we are launching under the Holonix brand is a single easy to use dosage of hand sanitizer targeting demand for individual size and on the go searches.  As there is a tremendous need for these kinds of products by essential workers and first responders, we made the strategic decision to help fill these needs consistent with Mohawk’s core business model. We expect the demand for this and other products to remain strong as states and communities navigate reopening their businesses and schools while ensuring their people remain safe. We will continue to leverage our access to manufacturing capacity to bring these critical products to market.”To learn more about Holonix Health and current product availability, please visit www.holonixhealth.com. About Mohawk Group Holdings, Inc.
Mohawk Group Holdings, Inc. and subsidiaries (“Mohawk”) is a rapidly growing technology-enabled e-commerce 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 incubated and grouped four owned and operated brands: hOmeLabs, Vremi, Xtava 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.Forward Looking Statements
All statements other than statements of historical fact included in this press release that address activities, events, or developments that we expect, believe, or anticipate will or may occur in the future are forward-looking statements, including the statements pertaining to the launch of Holonix brand, the demand for COVID-19 related products, the Company’s expected timing of launch, and its ability to source and bring those product opportunities to market successfully.  Forward-looking statements are based on management’s current expectations and beliefs and are subject to uncertainties and other factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.  A list and description of risks, uncertainties and other factors that could cause or contribute to differences in our results include risks related to the Company’s financial position, general economic and market factors, and specific risks related to global economic and marketplace uncertainties related to the COVID-19 pandemic, among others discussed in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and subsequent filings. We qualify all of our forward-looking statements by these cautionary statements.Media Contact
Jessica Liddell, ICR
203-682-8200
[email protected]Investor Contacts
Ilya Grozovsky, Mohawk Group
[email protected]
917-905-1699Brendon Frey, ICR
203-682-8200
[email protected]
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