· Stellar financial results for year-end 2019 with revenue growth of 114% and first quarter of 2020 revenue growth of 233% year-over-year
· Successful shift to online sales to keep up with demand during COVID-19
· Goal to uplist to national exchange within 12 months
Amityville, NY, May 21, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Iconic Brands, Inc. (ICNB) (“Iconic” or the “Company”), a lifestyle branding company with the highest expertise of developing, from inception to completion, alcohol beverage products for itself and third parties, today announced that the Company has issued a May 2020 Letter to Shareholders on recent highlights, developments, financial results, and new business opportunities.
Recent Company highlights include:
-- Exceptional growth over the past several months, including a revenue increase of 370% year-over-year for its fourth quarter of 2019, topping the previous three quarters combined -- Revenue growth for the first quarter of 2020, up 233% from the prior year period -- Building solid traction with all existing offerings and continuing to add more product lines and brands to a growing portfolio of wines and spirits -- Continued success with sales of the Bellissima line of Prosecco and Sparkling Wines online and on QVC -- Philanthropic campaign with Christie Brinkley benefiting Direct Relief to aid relief efforts for COVID-19 -- Strategically positioned to generate more revenue from online sales during this shift in the economy -- A goal over the next 12 months to uplist shares to a national stock exchange
“During these unprecedented times, we are working tirelessly and taking all necessary steps to advance our projects while keeping in mind the well-being of our employees, stakeholders, partners, and customers,” stated Richard DeCicco, Chief Executive Officer of Iconic. “Despite the current challenges facing the economy, we have been nimble in seeking out opportunities to continue the growth of the Company. We are coming off a strong year and a fantastic first quarter, during which we ramped up inventory, increased our online platform exposure, and strengthened our brands. Additionally, we are in the midst of discussions and anticipate signing a major company for a private label relationship. Our strong financial performance continues to grow and in the next 12 months our goal is to uplist our shares to a national stock exchange. We believe trading on a national stock exchange will raise awareness of Iconic’s value proposition and help in many business development areas. We will continue to share our progress with you as we move further into 2020.”
To view the Company’s Shareholder Letter in its entirety, please visit: https://ir.iconicbrandsusa.com/company-information/shareholder-letter
About Iconic Brands, Inc.
Iconic Brands, Inc. is a lifestyle branding company with the highest expertise of developing, from inception to completion, alcohol beverages for itself and third parties. Iconic markets and places products into national distribution through long-standing industry relationships. Iconic is a leader in “celebrity branding” of beverages, procuring superior and unique products from around the world and branding its products with internationally recognized celebrities. It currently offers Bellissima Prosecco and BiVi Vodka. In addition, Iconic developed the Hooters Spirits line of premium spirits in partnership with United Spirits, Inc., a leading private-label beverage company and affiliate of Iconic, for Hooters restaurants and off-premise retail locations both domestically and internationally.
Please visit the Company’s websites and follow it on social media.
Twitter: @IconicBrandsUS; @HootersSpirits; @BellissimaByCB @BiviVodka
Instagram: @IconicBrandsUSA; @HootersSpirits; @BellissimaProsecco; @Bivivodka
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act. These forward-looking statements are made on the basis of the current beliefs, expectations, and assumptions of management, are not guarantees of performance, and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in Iconic’s reports that it files from time to time with the Securities and Exchange Commission and which you should review, including those statements under “Item 1A – Risk Factors” in Iconic’s Annual Report on Form 10-K.