SANTA MONICA, CA, May 22, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Oliveda International, Inc. (OTC Pink: OLVI), a leading international natural cosmetics and wearable beauty and health technology innovator, has reported additional sales growth in the first quarter of 2020, with income increasing 15% and net income increasing almost 75% over the same period in 2019. This continued growth comes at a time when many retailers are struggling due to the COVID-19 pandemic. Even with most stores closed, Oliveda is experiencing strong online sales in the second quarter and expects even better results once that period is reported in August.
Since the end of the first quarter, the company launched its new OLIVEDA Signature concept, the co-creation of unique and exclusive signature brands. With OLIVEDA Signature, "Social Media Celebrities" with a reach of more than 300,000 followers are offered the chance for an exclusive and unique organic skin care line. The company is making progress onboarding new Social Media Celebrities since the concept was announced in April.
Due to the tremendous opportunities and potential of green beauty LA Dope Inc. and green tech company Olive Tree People over the next 3 years, Oliveda International has acquired direct shares in LA Dope and the Olive Tree People and has given back 70% of the shares of Oliveda Group Inc., the 100% owner of the LA Dope and Olive Tree People, in exchange for 100% of the shares of LA Dope and Olive Tree People technologies.
About Oliveda International Inc.
Founded in 2003 by German real estate investor Thomas Lommel, Oliveda International, Inc. is a leading international natural cosmetic company in the premium segment. The company has also developed a globally unique wearable beauty and health technology. In addition to online sales and a global branch network of 650 retail stores, the company’s wholly owned Oliveda Deutschland GmbH subsidiary operates flagship stores, Olive Tree Pharmacy, in Berlin and Dusseldorf with plans to open new locations in Los Angeles, Taipei and Seoul. Overall, the company believes that it will be able to operate a total of 60 of its own flagship stores worldwide and increase the retail store network worldwide to 1,200 over the next five years. Through subsidiary operations, Oliveda International is the largest investor in eco-certified mountain olive trees as well as the largest conservationist in Arroyomolinos de Leó, Spain. Further information on Oliveda International can be found at http://www.oliveda.com, us.oliveda.com and http://www.olivetreepeople.com.
This press release may contain statements, estimates or projections that constitute "forward-looking statements" pursuant to the safe harbor provisions of the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties, which may be found in the Company’s filings with OTC Markets Group Inc., that could cause actual results to differ materially from the Company's historical experience and present expectations or projections. Investors should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company expressly disclaims any obligation or intention to publicly update or revise any forward-looking statements unless otherwise required by law.
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