SHANGHAI, January 7, 2019 — Acorn International, Inc. (NYSE: ATV) (“Acorn” or the “Company”), announced it has moved to a new, centrally-located Shanghai office. The office is located in Shanghai’s Central Business District in a pristine newly-opened office tower. The central location and premium quality of the office provides an impressive space to entertain clients and partners and is expected to help attract employees in a highly competitive hiring market. The office is located in the Jing An District of Shanghai in Yueshang Plaza.
The move is part of the previously announced initiative by Roche Enterprises (RE) to establish the RE Shared Services Center, which involves the collocation of Acorn with the China operations of two RE-affiliated companies: Cachet Hotel & Resorts (Cachet) and IS Seafood. Roche Enterprises, Inc. is owned by Acorn’s Executive Chairman, Mr. Robert Roche and Mr. Roche is the Executive Chairman and the majority shareholder of Cachet and a co-founder of IS Seafood. Mr. Fisch is a shareholder and member of the Board of Directors of Cachet.
“We are excited about our new office location, which better reflects Acorn’s image as a modern and dynamic digital media and marketing company in China,” said Mr. Jacob A. Fisch, CEO and President of Acorn International. “By collocating Acorn’s operations with our partners, Acorn Fresh can more closely collaborate with one of its key suppliers, IS Seafood, and we can better facilitate other forms of synergistic collaboration accretive to Acorn. Just as important, the joint workspace enhances the productivity of the RE Shared Services Center, which provides superior back office support for all businesses at a lower cost.”
About Acorn International, Inc.
Acorn International is a leading marketing and branding company in China, leveraging a twenty-year direct marketing history to monetize brand IP, content creation and distribution, and product sales, through digital media in China. Previously the leading TV infomercial company in China, Acorn today has three divisions support its growth: 1) Product Division, 2) Content Division, and 3) Influencer Management Division.
In the Product Division, Acorn sells product primarily through e-commerce channels in China, as well as through offline distribution and outbound marketing. In the Content Division, Acorn monetizes content. Specifically, in the Content Division, Acorn has redirected its direct marketing know-how to digital media in China, launching Acorn Streaming, which is primarily focused on live streaming and pre-recorded video content creation and distribution. In the Influencer Management Division, Acorn brings, through the creation of digital social content, leading U.S. celebrity talent and brands to China, representing their in-country digital presence. For more information visit www.acorninternationalgroup.com.
Safe Harbor Statement
This news release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “anticipates,” “believes,” “estimates,” “expects,” “future,” “going forward,” “intends,” “outlook,” “plans,” “target,” “will,” “potential,” and similar statements. Such statements are based on management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.
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Ms. Elaine Ketchmere, CFA