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MIAMI, FL AND LONDON, UK / ACCESSWIRE / June 4, 2024 / MGO Global Inc. (NASDAQ:MGOL), a digitally-native, lifestyle brand portfolio company, ("MGO," "MGO Global" or the "Company") today reported that since first launching its Stand Flagpoles brand in mid-March 2023, the brand's sales results have continued to outperform MGO's internal projections, climbing over 30% when comparing revenues from March 15, 2023 through May 31, 2023 and March 15, 2024 and May 31, 2024.
"We continue to be very optimistic about the future growth prospects of Stand Flagpoles products, particularly given the brand's current performance in the second quarter of 2024, thus far, which has remained strong and steady. We believe that this growth is being fueled by the general underpinning growth of global ecommerce coupled with MGO's highly targeted, consumer-centric marketing strategies," stated Maximiliano Ojeda, Co-Founder, Chairman and CEO of MGO Global. "According to industry marketing firm GFK in its "The Evolving Direct-to-Consumer (DTC) Journey 2024," the firm noted that ‘direct sales, though presently in infancy state, will continue to grow, tapping into consumers' desire for value, personalization, sustainability and immersive shopping experiences.' Through MGO's thoughtful, proactive marketing of our high quality flag poles and related products directly to patriotic American consumers and U.S. commercial enterprises, we are reaching and compelling consumers to choose Stand Flagpoles."
About MGO Global Inc.
MGO Global Inc. is actively engaged in building a portfolio of independent, digitally native, lifestyle brands, which are unique and differentiated, yet all defined by distinctive, high-quality products and a shared commitment to delivering high-touch customer experiences across its ecommerce and wholesale channels. MGO is currently comprised of two business units: Americana Liberty, which markets a growing, high-end line of thoughtfully curated home and outdoor products, including Stand Flagpoles; and MGO Digital, which leverages data analytics, advanced technology-enabled marketing and our leadership's industry relationships and expertise to identify, incubate and introduce to market new, authentic lifestyle brand concepts. For more information on MGO, please visit www.mgoglobalinc.com.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its businesses and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, customer acceptance of new products, and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company's products and the Company's customers' economic condition, the impact of competitive products and pricing, general economic conditions and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.