Cool Holdings Announces the Relocation of its Simply Mac Store in Macon, Georgia

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Cool Holdings, Inc. (OTCQB: AWSM) announced the relocation and grand opening of its Simply Mac store in Macon, Georgia, offering Apple products and services. The new 1,840 sq. ft. store reduces occupancy costs by 52% compared to the previous location. CEO Reinier Voigt emphasized the store's significance in serving the local college student population and highlighted future store openings as part of its strategic expansion. Simply Mac operates 40 retail stores across 17 states, focusing on enhancing customer experiences and profitability.

Positive

• New store opening reduces occupancy costs by 52%.
• Store location strategically targets local college student population.
• Plans for further expansion across the country are in place.

Negative

• None.

MIAMI, Sept. 18, 2020 /PRNewswire/ -- Cool Holdings, Inc. (OTCQB: AWSM) (the "Company" or "Cool Holdings") announced the relocation and grand opening of its new Simply Mac retail store in Macon, Georgia.  This 1,840 square foot official Apple Premier Partner Store is located at 5005 Riverside Drive, Suite B, Macon, GA, and will offer the entire suite of Apple products, as well as third party accessories and Simply Mac's signature service and warranty repairs on all product categories by our trained team of Apple-certified technicians.  Simply Mac also offers customer financing and extended warranty coverage on all Apple products.

Commenting on the new Simply Mac store opening, Reinier Voigt, Chief Executive Officer of Cool Holdings, stated: "Our Macon store has been part of the Simply Mac family since 2008.  Macon is the fourth largest city in Georgia, and is located 77 miles southeast of Atlanta.  There are approximately 25,000 college students in the city with the largest schools being Mercer University, Middle Georgia State and Central Georgia Tech.  The lease at our previous Macon location expired, and we elected to move to this new location where we were able to reduce our monthly occupancy expense by 52%.  We're pleased to remain part of the Macon landscape where our team of sales professionals and Apple-certified technicians will continue to serve the large number of college students, as well as the entire community of Macon."

Commenting further, Mr. Voigt stated: "In addition to the Macon store, we will be announcing other new and relocated stores around the country in the near future as we continue to execute on our strategic plan to expand the Simply Mac footprint in North America.  We are being careful to adhere to our established site selection model that includes criteria for local population, median household income, preferable presence of a major university, distance from the nearest Apple store and minimum projected annual operating income.  In addition, all new locations must be approved in advance by Apple.  We remain committed to our mission to provide our customers with transformational experiences that drive long-term customer loyalty, and to improving our profitability to increase shareholder value."

About Cool Holdings, Inc.
Cool Holdings is a Miami-based company that is the parent of Simply Mac, a chain of 40 retail stores operating in 17 states and an authorized reseller under the Apple Premier Partner program of Apple products and other high-profile consumer electronic brands. Additional information can be found on its website at www.coolholdings.com and www.simplymac.com.

Forward-looking and cautionary statements
Forward-looking statements in this press release and all other statements that are not historical facts are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements, including those related to store expansion plans, the offering of the entire suite of Apple products, third party accessories and service and warranty repairs on all product categories in the Macon Simply Mac store, our ability to open new store locations consistent with our site selection model, our ability to attract and retain new customers, our ability to meet projected operating income, our expectations for future lease rates, our ability to capitalize on operational efficiencies, our supply chain and our customer traffic, involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements, including actions by third parties, including Apple. A list and description of various risk factors related to Cool Holdings, Inc. can be found and reviewed in the Company's Annual Report on Form 10-K for the year ended December 31, 2019, which can be accessed under the Company's profile at www.sec.gov. These forward-looking statements speak only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release, except as required by law.

All product names, logos, and brands are property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, logos, and brands does not imply endorsement. 

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SOURCE Cool Holdings, Inc.

FAQ

What is the significance of the new Simply Mac store in Macon, Georgia?

The new Simply Mac store is significant as it serves the local college population and reduces occupancy costs by 52%.

When did Cool Holdings announce the relocation of its Simply Mac store?

Cool Holdings announced the relocation of its Simply Mac store on September 18, 2020.

What products and services are offered at the new Simply Mac store?

The new Simply Mac store offers the entire suite of Apple products, third-party accessories, and warranty repairs by Apple-certified technicians.

How many retail stores does Simply Mac operate?

Simply Mac operates 40 retail stores across 17 states.

What criteria does Cool Holdings use for new store locations?

Cool Holdings' site selection model includes local population, median household income, presence of a major university, and distance from the nearest Apple store.