Singing Machine Announces New Partnership with Vendo Commerce to Grow Amazon Sales
Fort Lauderdale, FL, June 29, 2023 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) -- the North American leader in consumer karaoke products -- today announced it has engaged Vendo Commerce (“Vendo”) to help maximize sales opportunities through Amazon’s leading online platform. Vendo is a full-service digital growth company specializing in e-commerce strategies for Amazon and Walmart.com and is part of the PLTFRM group of companies.
PLTFRM is a creative agency specialized in connecting consumer brands to retail with Vendo being its digital growth partner for all things ecommerce.
“We are very pleased to launch our relationship with Vendo,” commented Gary Atkinson, CEO of Singing Machine. “Vendo is a well-respected firm in the e-commerce space. We believe that they are world class experts in leveraging Amazon, Walmart and Target in particular, and this overlaps extremely well with our largest retail partnerships today. With Vendo’s assistance, we believe we can expand our retail sales through Amazon to ultimately equal or even exceed our Walmart and Target sales levels.”
“We are aggressively gearing up all facets of our business for the coming holiday retail season. We are in constant contact with our top big box retail partners, most notable Walmart, Target, Costco, and Sam’s Club. Overall, we are very pleased with our sales order commitments to date this year. Our holiday sales pipeline remains strong.”
“From our perspective, Amazon can be a powerful complement to our traditional brick and mortar capabilities. Vendo has the specific expertise to maximize our visibility to the end consumer, position our products to enhance the impression we make at the point of sale, and improve our overall sales conversion success rates using the Amazon platform. This is high-margin, low-risk opportunity for our Company that could help grow our sales on Amazon to become one of our largest retail relationships,” concluded Mr. Atkinson.
About The Singing Machine
The Singing Machine Company, Inc. (NASDAQ: MICS) is the worldwide leader in consumer karaoke products. Based in Fort Lauderdale, Florida, and founded over forty years ago, the Company designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products. Their portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street. Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products and is also developing the world’s first globally available, fully integrated in-car karaoke system. The Company also has a new philanthropic initiative, CARE-eoke by Singing Machine, to focus on the social impact of karaoke for children and adults of all ages who would benefit from singing. Their products are sold in over 25,000 locations worldwide, including Amazon, Costco, Sam’s Club, Target, and Walmart. To learn more, go to www.singingmachine.com.
About Vendo
Vendo is a full-service digital growth company specializing in e-commerce strategies for Amazon and Walmart.com. With deep-rooted retail relationships and expertise, we guide partners through digital marketplaces; enabling brands to tell their story, spend smart and grow profitably while gaining access to more customers. Protect your brand and sell more with Vendo. To learn more about Vendo, please visit: www.vendocommerce.com
Investor Relations Contact:
investors@singingmachine.com
www.singingmachine.com
www.singingmachine.com/investors
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "may", "could", "expects", "projects," "intends", "plans", "believes", "predicts", "anticipates", "hopes", "estimates" and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon several assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the Company's control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors described in the Company's filings with the Securities and Exchange Commission. The forward-looking statements are applicable only as of the date on which they are made, and the Company does not assume any obligation to update any forward-looking statements.
