Listing of OPKO Health-Branded Personal Health & Wellness Products Including the First-of-Their-Kind Veterinary Care Products in China, Expected in the First Quarter of 2025, Dramatically Expanding the Company's Ongoing e-Commerce Program
COCONUT GROVE, Fla., Dec. 10, 2024 /PRNewswire/ -- NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or the "Company"), a global e-Commerce provider, today announced a significant expansion of its e-Commerce development program in China having received vendor approval from JD.com, the world's second largest e-Commerce market, and the largest self-operated e-Commerce retailer in China (Source: Statista), for the listing and sales of OPKO Health Europe ("OPKO") branded health & wellness and veterinary care products.
NextPlat Corp. logo (PRNewsfoto/NextPlat Corp.)
JD.com, serving over 560 million active annual users and generating more than $160 billion in annual revenue (Source: Statista), provides NextPlat access to an established e-Commerce platform to reach a wide and diverse consumer base in China. JD.com offers a unique opportunity for brands like OPKO to connect directly with health-conscious consumers in a country where demand for premium healthcare and nutraceutical products is rapidly increasing.
Under its recently extended and expanded exclusive joint e-Commerce development agreement with OPKO Health Europe, a subsidiary of OPKO Health, Inc. (NASDAQ: OPK), the Company expects to begin listing a range of OPKO human health products on JD.com during the first quarter of 2025. These products include an assortment of nutraceuticals for bone and joint health as well as supplements for nutrition and immunity and defense. Subject to receipt of final country-wide Chinese regulatory clearance expected in the first quarter of 2025, NextPlat intends to significantly expand the OPKO online offerings to include a wide array of veterinary and animal health products with several first-of-their-kind products available in the Chinese pet care market. The launch comes at a time of exceptional growth in the nutraceuticals market in China, which is projected to reach $100 billion by 2025 (Source: Research and Markets), fueled by rising consumer awareness of health and wellness. Increasing disposable incomes and a rapidly aging population have further accelerated the demand for dietary supplements, vitamins, and functional foods.
"Our approval to list products on JD.com is an exciting and major expansion of our current e-Commerce activity in China, enabling us to now reach nearly 1 billion online consumers each day through multiple platforms. We continue to see increasing daily demand for OPKO products already available in-country and are looking forward to building upon the momentum in our online marketing and sales efforts in China with product listings on JD.com, and to driving significant new product sales throughout 2025," said David Phipps, President of NextPlat and CEO of Global Operations.
Earlier this year following delivery of initial product inventory, the Company began conducting both online and offline marketing and sales programs across China on behalf of OPKO. NextPlat recently took part in the 2024 China International Natural Health & Nutrition Expo(NHNE), Asia's largest health and nutrition tradeshow attended by over 120,000 industry participants. Early feedback from NHNE attendees has been positive and the Company is now in early discussions with multiple parties interested in the potential distribution, sale, and marketing of OPKO products.
NextPlat's e-Commerce development program, held in coordination with local Florida chambers of commerce, initially aims to help Florida-based businesses and manufacturers market and sell their products to potentially millions of new customers. The development program features NextPlat's turnkey global e-Commerce solution and leverages the capabilities and reach of key partners including Alibaba and its Tmall Global platform, and additional in-country marketing and distribution specialists who support cross-border solutions enabling global brands to reach Chinese consumers.
About NextPlat Corp NextPlat is a global e-Commerce platform company created to capitalize on multiple high-growth sectors and markets including technology and healthcare. Through acquisitions, joint ventures and collaborations, the Company intends to assist businesses in selling their goods online, domestically, and internationally, allowing customers and partners to optimize their e-Commerce presence and revenue. NextPlat currently operates an e-Commerce communications division offering voice, data, tracking, and IoT products and services worldwide as well as pharmacy and healthcare data management services in the United States through its subsidiary, Progressive Care LLC.
Forward-Looking Statements Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, including the Company's ability to launch additional e-commerce platforms, sell healthcare products in China, and its ability to grow and expand as intended, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating), including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.
Media and Investor Contact for NextPlat Corp:
Michael Glickman MWGCO, Inc. 917-397-2272 mike@mwgco.net
