Singing Machine Partners with Leading Distributor, CMS Distribution, for UK Market

Rhea-AI Summary

Singing Machine (OTCQX: SMDM) has announced a partnership with CMS Distribution to enhance its karaoke product distribution in the UK. This collaboration aims to leverage CMS's expertise in consumer technology, facilitating seamless operations amid Brexit challenges. Singing Machine, a leader in home karaoke products, offers a diverse range of items, including Bluetooth microphones and the popular Carpool Karaoke microphone. This strategic alliance is expected to expand their market reach and reinforce existing partnerships with major retailers like Amazon and Costco.

Positive

• Partnership with CMS Distribution to boost distribution in the UK.
• Alignment with a distributor experienced in handling Brexit-related logistics.
• Potential expansion of partnerships with top retailers in the region.

Negative

• None.

Singing Machine Partners with CMS Distribution to Expand Karaoke Distribution

Fort Lauderdale, FL, May 12, 2022 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (OTCQX: SMDM) – the worldwide leader in consumer karaoke products today announced it has partnered with CMS Distribution, a leading global distributor of consumer technology products, to distribute Singing Machine’s karaoke products assortment in the United Kingdom.

CMS Distribution is a leading global consumer technology products distributor that distributes over 150 manufacturer brands across 8 countries, including UK, Ireland, France, Netherlands, Sweden, China, the USA and Germany.

Singing Machine is the market leader in home consumer karaoke products with a focus on innovation and expanding digital content services. Singing Machine’s product line includes karaoke machines, accessory microphones, stand-alone Bluetooth™ microphones, and the widely popular Carpool Karaoke™ microphone, designed for use in cars.

Bernardo Melo, Chief Revenue Officer of Singing Machine, commented, “We are aligned perfectly with CMS to continue our growth internationally. They curate and distribute some of the biggest brands in consumer electronics in key territories for our brand. CMS is well equipped to handle the logistical challenges that Brexit will bring to that region of the world. We will be able to seamlessly continue our strong partnership with Amazon EU, Costco, Argos and a few other of the top retailers while opening up key new partnerships in the countries mentioned above. We look forward to a long fruitful business partnership.”

About The Singing Machine

Singing Machine^® is the leading provider of karaoke products to consumers across the world. The Company offers the industry's widest line of at-home and in-car karaoke entertainment products, which allow consumers to find a machine that suits their needs and skill level. The Company’s products are sold in over 25,000 locations worldwide, including at well-known retailers such as Amazon, Costco, Sam’s Club, Target, and Walmart. As the most recognized brand in karaoke, 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. To learn more, go to www.singingmachine.com.

About CMS Distribution

CMS Distribution is a value-added IT distributor of business and consumer technology products. A trade-only organisation creating global markets for 150+ manufacturers, selling to corporate resellers, managed service providers, high street, and online retailers. CMS Distribution specialises in taking emerging technologies to market, whilst growing established brands using a range of value-added services. With a team of 485+ people and annual sales in excess of £600m, CMS accelerates growth for their partners from 12 locations in 8 countries including the UK, Ireland, France, Netherlands, Sweden, China, the USA and now Germany.

Investor Relations Contact:
Brendan Hopkins
(407) 645-5295
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. Such forward-looking statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management and include, but are not limited to statements about our financial statements for the fiscal year ended March 31, 2021. You should review our risk factors in our SEC filings which are incorporated herein by reference. Such forward-looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.

FAQ

What is Singing Machine's recent partnership about?

Singing Machine partnered with CMS Distribution to expand its karaoke product distribution in the UK.

How will the partnership with CMS Distribution impact Singing Machine?

The partnership is expected to enhance Singing Machine's market reach and streamline operations, particularly in light of Brexit.

What products does Singing Machine offer?

Singing Machine offers a wide range of karaoke products, including karaoke machines, Bluetooth microphones, and the Carpool Karaoke microphone.

What is Singing Machine's stock symbol?

Singing Machine is traded under the stock symbol SMDM on OTCQX.