NEW YORK, March 20, 2020 (GLOBE NEWSWIRE) — Mohawk Group Holdings, Inc. (NASDAQ: MWK) the tech-enabled, consumer products company, announced today that in light of the current COVID-19 FBA fulfillment challenges facing sellers on Amazon’s Marketplace, Mohawk is making available its AIMEE software platform to facilitate deliveries during these unprecedented times. Today, Mohawk is one of the largest Amazon sellers armed with a proprietary third party logistics network that is able to cover approximately 93% of the US population in one to two days Prime certified shipping. Yaniv Sarig, Co-Founder and Chief Executive Officer of Mohawk Group, stated, “During these difficult times it is incumbent on us all to do our part to help alleviate the challenges currently facing everyone. Making the Mohawk AIMEE platform available to sellers who rely on Amazon’s fulfillment services will allow them to maintain operations, while freeing up Amazon to focus on delivering essential products, and all of this ultimately allowing consumers to stay at home and safe.”In a post to its Amazon Services Seller Forums, Amazon stated in part: “We are closely monitoring the developments of COVID-19 and its impact on our customers, selling partners, and employees. We are seeing increased online shopping, and as a result some products such as household staples and medical supplies are out of stock. With this in mind, we are temporarily prioritizing household staples, medical supplies, and other high-demand products coming into our fulfillment centers so that we can more quickly receive, restock, and deliver these products to customers. For products other than these, we have temporarily disabled shipment creation. We are taking a similar approach with retail vendors. This will be in effect today through April 5, 2020, and we will let you know once we resume regular operations. Shipments created before today will be received at fulfillment centers. We understand this is a change to your business, and we did not take this decision lightly. We are working around the clock to increase capacity and yesterday announced 133 that we are opening 100,000 new full- and part-time positions in our fulfillment centers across the US. We appreciate your understanding as we prioritize the above products for our customers.”About Mohawk Group Holdings, Inc.
Mohawk Group Holdings, Inc. and 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 incubated and grouped four owned and operated brands: hOme, 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, in particular, the statements about our ability to successfully deploy, market and sell our SaaS product offering, launch products and to expand our product offerings,, our technology platform and its ability to disrupt the consumer products industry; our ability to gain market share; and our ability to penetrate new categories. These 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. These risks include, but are not limited to, those related to our cash flows and revenue growth rate; customer adoption, development of our AIMEE software platform to meet needs of third parties, our supply chain, sourcing, manufacturing and warehousing; international tariffs and trade measures; inventory management, product liability claims, recalls, or other safety concerns; reliance on third-party online marketplaces; seasonal and quarterly variations in our revenue; acquisitions of other companies and technologies; and other factors discussed in the “Risk Factors” section of our most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), including in our final prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on June 13, 2019, all of which you may obtain for free on the SEC’s website at www.sec.gov. 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.
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