Jowell Global to Establish U.S. Warehouse with Suzhou Dreamworker Info-Tech to Elevate Competitiveness in Cross-Border E-Commerce

Rhea-AI Summary

Jowell Global Ltd. (NASDAQ: JWEL) has announced a strategic collaboration with Suzhou Dreamworker Info-Tech Co., Ltd. to establish a joint venture focused on cross-border e-commerce in the U.S. This partnership aims to enhance warehouse and supply chain services, leveraging Suzhou Dreamworker's expertise in overseas warehousing. The initiative seeks to reduce logistical costs, improve delivery times, and enhance customer service, ultimately positioning the company to attract more international customers and boost competitive advantages in the e-commerce sector.

Positive

• Strategic collaboration with Suzhou Dreamworker to enhance U.S. e-commerce operations.
• Joint venture aims to improve logistical efficiency and customer service.
• Potential to attract international customers and expand business opportunities.

Negative

• None.

SHANGHAI, Dec. 20, 2021 (GLOBE NEWSWIRE) --  Jowell Global Ltd. (“Jowell Global” or the “Company”) (NASDAQ: JWEL), one of the leading cosmetics, health and nutritional supplements, and household products e-commerce platforms in China, today announced that the Company established a cross-border e-commerce strategic collaboration with Suzhou Dreamworker Info-Tech Co., Ltd. (“Suzhou Dreamworker”). Parties will work together to set up a joint venture to provide warehouse and supply chain service in the U.S. by utilizing the oversea warehousing development experience of Suzhou Dreamworker and existing e-commerce platform of Jowell Global to form a more competitive global e-commerce presence.

Chinese international trade has been rapidly developing in new forms and models in recent years. Cross-border e-commerce becomes a new accelerator in China’s international trade, transforming the international trade that has been impacted by the COVID-19 pandemic. Overseas warehousing offers many benefits, especially for e-commerce platforms, including lowered logistical costs and reliable delivery time and improved after-sale customer service and more. This collaboration creates considerable competitive advantages that will help attract more international customers and additional business opportunities for the Company.

Mr. Zhiwei Xu, Chief Executive Officer and Chairman of Jowell Global Ltd, commented: “Overseas warehousing is one of the foundational infrastructures for cross-border e-commerce. Suzhou Dreamworker, a leader in the cross-border industry chain for Chinese brands, has rich experience in building and developing overseas warehouses. In the future, both parties will jointly build U.S. warehousing and related services that would include storage, transshipment, fulfillment, showcasing, and after sales services. These efforts will facilitate the Company’s cross-border e-commerce development and further expand our business into supply chain area.”

Mr. Tianran Zhang, Vice President and Partner of Suzhou Dreamworker, commented: “Jowell Global, as a NASDAQ listed e-commerce company, is equipped with the resources to develop all-channel cross-border e-commerce. Establishing overseas warehouse and related supply chain services in the U.S. will significantly expediate deliveries and bring drastic improvements to shopping experiences and user stickiness for Chinese e-commerce platforms and small online retailers to expand their business internationally, which is why this partnership will create a new aspect for growth in the expansion of international trade for both Jowell Global and Suzhou Dreamworker.”

About Jowell Global Ltd.

Jowell Global Ltd. (the “Company”) is one of the leading cosmetics, health and nutritional supplements and household products e-commerce platforms in China. We offer our own brand products to customers and also sell and distribute health and nutritional supplements, cosmetic products and certain household products from other companies on our platform. In addition, we allow third parties to open their own stores on our platform for a service fee based upon sale revenues generated from their online stores and we provide them with our unique and valuable information about market needs, enabling them to better manage their sales effort, as well as an effective platform to promote their brands. The Company also sells its products through authorized retail stores all across China, which operate under the brand names of “Love Home Store” or “LHH Store” and “Juhao Best Choice Store”. For more information, please visit http://ir.1juhao.com/. 

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company may also make forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; financial condition and results of operations; product and service demand and acceptance; reputation and brand; the impact of competition and pricing; changes in technology; government regulations; fluctuations in general economic and business conditions in China and U.S., and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward‐looking statements to reflect events or circumstances that arise after the date hereof.

For investor and media inquiries, please contact:

In China:
Jowell Global Ltd.
Ms. Jessie Zhao
Email: IR@1juhao.com

The Blueshirt Group
Ms. Susie Wang
Email: susie@blueshirtgroup.com

In the United States:
The Blueshirt Group
Ms. Julia Qian
Email: julia@blueshirtgroup.com

FAQ

What is Jowell Global's recent partnership about?

Jowell Global has entered a partnership with Suzhou Dreamworker to create a joint venture for cross-border e-commerce in the U.S., focusing on warehouse and supply chain services.

How does the collaboration affect Jowell Global's operations?

The collaboration aims to enhance logistical efficiency, reduce costs, and improve customer service for Jowell Global's e-commerce activities.

What are the expected benefits of the joint venture for JWEL?

The joint venture is expected to attract more international customers and create additional business opportunities for Jowell Global.

When was the partnership with Suzhou Dreamworker announced?

The partnership was announced on December 20, 2021.

What is the significance of overseas warehousing for Jowell Global?

Overseas warehousing is crucial for enhancing cross-border e-commerce, providing benefits like reduced logistical costs and improved delivery times.