Marks First Step in Global E-Commerce Strategy; Reaffirms Plans to Enter New European and Global Markets in 2021.
CHICAGO, April 27, 2021 (GLOBE NEWSWIRE) -- Cosmos Holdings, Inc. (“the Company”) (OTCQX: COSM ), a vertically integrated, international pharmaceutical company with a proprietary line of branded and generic pharmaceuticals, nutraceuticals, OTC medications and an extensive, established European Union distribution network, today announced that the Company’s subsidiary, Decahedron Ltd, a UK-based pharmaceutical wholesaler, distributor and fulfillment center, has initiated the launch of 65 Sky Premium Life products on Amazon United Kingdom.
PAGB , the consumer healthcare association that represents the manufacturers of branded OTC medicines, self-care medical devices and food supplements in the UK, has been working with Decahedron on the product marketing regulatory process for Sky Premium Life products in the UK. Cosmos expects to have ten Sky Premium Life SKUs launched next month, and targets having all 65 SKUs listed on Amazon UK by year end. According to Mintel research , the UK vitamins and minerals marketplace has increased 14.3% in 2020 over the prior year, rising from £434 million to £494 million, and showing a major uptake of these products by UK consumers. UK sales of all consumer healthcare products peaked in March 2020, up 125.8% year over year. With Covid-19 lockdowns and restrictions on store capacity, consumers increasingly turned to online shopping and there are signs that this trend is likely to continue.
Furthermore, according to Mintel research, 24% of vitamins, minerals and dietary supplements (VMS) users have taken more vitamins and supplements since the COVID-19 outbreak. Immune health has become a priority since the pandemic began, with 36% of VMS users taking them to strengthen their immune system and about one in seven using them to improve their mood (15%) and combat stress (13%). Greg Siokas, Chief Executive Officer of Cosmos Holdings, stated, “Launching our Sky Premium Life products on Amazon UK provides Cosmos an opportunity for exponential growth, driven by far greater reliance on both VMS consumption and e-commerce shopping. It allows us to cost effectively reach tens of millions of customers in the UK and the rest of the world which, in turn, is expected to help grow the brand and provide consumers and retailers a virtual storefront for all our products.” “This is an important milestone for Cosmos, and a major step forward in the roll-out of our e-commerce and online distribution strategy. The Amazon UK initiative complements our global sales strategy. We successfully built a robust distribution network, which now includes 160 wholesale pharmaceutical distributors in 16 countries, with access to over 50,000 brick-and-mortar pharmacies,” he added. “We will continue to add distributors worldwide and expect to enter a number of new European and global markets this year. I am confident our e-commerce strategy will produce a high return on our investment given the favorable, growing brand awareness and increasing global demand for VMS,” Mr. Siokas concluded.
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is an international pharmaceutical company, with a proprietary line of branded and generic pharmaceuticals, nutraceuticals, OTC medications and medical devices and an extensive, established EU distribution network. The Company identifies, acquires, develops and commercializes products that improve patients' lives and outcomes. It has an extensive network of clients in Germany, United Kingdom, United Arab Emirates, Denmark, Italy, France, Singapore, Ireland, Sweden, Poland, Netherlands, and Greece. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece, Athens, Greece and Harlow, UK. More information is available at www.cosmosholdingsinc.com and www.skypremiumlife.com.
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could”, are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company’s ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the Company’s business, operations and the economy in general, and the Company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company’s filings with the SEC, which are available at the SEC’s website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact: Crescendo Communications, LLC Tel: 212-671-1020 Email: COSM@crescendo-ir.com