MGO Global Inc. - MGOL STOCK NEWS

MGO Global Inc. (Nasdaq: MGOL) reported expected first quarter sales growth of over 230% compared to the same period in 2022, largely driven by The Messi Store, which accounts for approximately 190% of this increase. The enhanced marketing efforts led by Chief Marketing Officer Matt Harward have focused on tech-driven strategies, including AI-powered marketing engine called SASHA, resulting in a 118% increase in traffic and a 367% boost in overall conversion rates year-over-year. In North America, traffic surged 123% while conversions rose 429%. Financial results for the quarter will be released in mid-May 2023, alongside a Form 10-Q filing. The company emphasizes their innovative use of AI to connect effectively with targeted customers.

MGO Global Inc. (NASDAQ:MGOL) reported a 19% revenue increase to $1,048,012 for the year ended December 31, 2022, primarily from The Messi Brand collections. DTC revenues rose to $941,581, while gross profit margin improved to 68%.

However, net losses escalated 185% to $2,582,946, or $0.25 per share, due to rising costs from IPO preparations and royalties to Leo Messi Management. Following an IPO that raised $8,625,000, MGO aims to expand its brand portfolio and enhance its market position.

MGO Global Inc. (NASDAQ:MGOL) is set to celebrate its January 13, 2023 Nasdaq listing with an Opening Bell ceremony on April 4, 2023, at the Nasdaq MarketSite in New York City. Co-founders Maximiliano Ojeda and Ginny Hilfiger will lead the event, which highlights a significant milestone in MGO's journey to establish itself as a leader in direct-to-consumer digital commerce. The ceremony will begin at 9:15 a.m. Eastern Time and will be broadcast live. Founded in 2018, MGO operates The Messi Store, a premium lifestyle brand inspired by soccer star Leo Messi.

MGO Global Inc. (NASDAQ:MGOL) is expanding its brand portfolio by obtaining a royalty-free, worldwide exclusive license to Stand Co, LLC, a direct-to-consumer brand specializing in flagpoles and patriotic products. This acquisition will enhance MGO's growth strategy in 2023, aligning with its objective of serving niche markets. According to CEO Maximiliano Ojeda, this licensing arrangement aims for immediate revenue generation while pursuing a definitive asset acquisition agreement. MGO leverages an AI-powered marketing system that has shown success with The Messi Brand and aims to integrate Stand's brand into its digital commerce platform.

MGO Global (Nasdaq:MGOL) will host a webcast on April 4, 2023, at 4:30 PM ET, to discuss operational developments and financial results for the year ending December 31, 2022. The event will feature insights from Maximiliano Ojeda, CEO, and Vincent Ottomanelli, CFO. Investors can submit questions via email to ir@mgoteam.com by March 24, 2023. The webcast will be accessible live and available for replay at this link.

MGO Global focuses on leveraging athletes' brands, highlighted by its The Messi Store product line, launched in 2018.

MGO Global Inc. (NASDAQ:MGOL) celebrated Leo Messi's accolade as FIFA's Best Player of the Year at the 2023 FIFA Football Awards. To commemorate this achievement, the company announced the release of a limited edition of graphic t-shirts titled "The Best" in The Messi Store. This event marks Messi's second recognition as the best player by FIFA since it started its own awards in 2016. Ginny Hilfiger, MGO's Chief Design Officer, expressed excitement over the launch, indicating that the shirts come in four vibrant color options, reflecting Messi's style. The Messi Store continues to build on the brand established around Messi, focusing on high-performance apparel.

MGO Global Inc. (NASDAQ: MGOL) successfully completed its Initial Public Offering, reflecting the dedication of its team, including CEO Maximiliano Ojeda. The company, which operates The Messi Store, plans to utilize the IPO capital to enhance growth, expand its flagship brand, and capitalize on strategic opportunities. Since 2020, The Messi Store has attracted 6.6 million visitors and operates in 124 countries. MGO aims to leverage Leo Messi's social media reach of over 549 million fans to drive sales. The management team has extensive experience in building iconic brands, and MGO is committed to achieving significant customer and revenue growth.

MGO Global Inc., the operator of The Messi Store, successfully closed its initial public offering of 1,725,000 shares of common stock at $5.00 per share, raising $8.625 million in gross proceeds. This includes the underwriters' overallotment option exercised for an additional 225,000 shares. The registration statement related to these securities was declared effective by the SEC on January 12, 2023. The company is focused on leveraging the influence of athletes like Leo Messi to build its brand portfolio.

MGO Global Inc. announced that its common stock began trading on the Nasdaq Capital Market under the ticker symbol MGOL on January 13, 2023. The company had previously priced a public offering of 1,500,000 shares at $5.00 per share, anticipating gross proceeds of approximately $7.5 million before expenses. Boustead Securities, LLC and Sutter Securities, Inc. are underwriting the offering. The effective registration statement was filed with the SEC on January 12, 2023. MGO Global is known for its lifestyle brand portfolio, particularly The Messi Brand, which features apparel inspired by soccer star Leo Messi.