Cosmos Holdings Signs Exclusive Distribution Agreement with Mediprovita GbR for Launch of Sky Premium Life Products in Germany and Austria
First Phase Launches Sky Premium Life Products on Amazon and eBay; Second Phase Launch Includes Brick & Mortar Stores
Continues to Expand its Network of European Distribution Partners; Plans to Enter into Additional European, Asian and New Global Markets in 2H 2021
CHICAGO, July 08, 2021 (GLOBE NEWSWIRE) -- Cosmos Holdings, Inc. (the “Company") (OTCQX: COSM), an international pharmaceutical company with a proprietary line of branded and generic pharmaceuticals, nutraceuticals, OTC medications and an extensive, established European Union distribution network, today announced that it has entered into an exclusive distribution agreement with Mediprovita GbR (“Mediprovita”) to be the exclusive distributor in Germany and Austria of the Company’s Sky Premium Life, a proprietary, luxury and high-quality nutritional supplements' brand, with a complete range of vitamins, minerals, herbs and unique formulas.
Under the terms of the agreement, Mediprovita will employ its sales, marketing and e-commerce expertise to distribute Sky Premium Life products throughout Germany and Austria. In addition, Mediprovita will submit registration files on behalf of the Company within the territories. Cosmos expects to have approximately 25 Sky Premium Life SKUs launched in the next two months, and targets having all 65 SKUs listed on Amazon and eBay by year end.
Greg Siokas, Chief Executive Officer of Cosmos Holdings, stated, “Today’s announcement is a testament to the hard work that our team has put in over the past four years in order to transform Cosmos into an international pharmaceutical company with an established distribution network in Europe. We are rapidly expanding our distribution network worldwide and are pleased to add Mediprovita as our exclusive distributor in Germany and Austria. Our Sky Premium Life brand is a key part of our business that continues to contribute to our revenue growth. This partnership will establish Cosmos Holdings in the pharma retail and e-commerce markets in Germany and Austria, while offering significant opportunities for geographic expansion. The first phase of our agreement consists of rolling out our Sky Premium Life products on the e-commerce platforms Amazon and eBay, followed by placing our products in ‘Bricks & Mortar’ pharma stores across Germany and Austria.
We believe Mediprovita is the perfect distribution partner as they have 25 years of expertise in e-commerce, strong online presence on Amazon and eBay, extensive proficiency in marketing and business analytics and a successful track record in selling health products. They also have a 70,000 sq ft logistics and fulfillment center in Mannheim, Germany, which will enhance our ability to sell more of our products through increased inventory and storage capacity. Our goal within the next several months is to add three major European markets and enter the Asian market which we believe will help accelerate both revenue and EBITDA growth in the years ahead.”
Angelos Kiriazis, Owner & General Manager of Mediprovita, commented, “We are excited to work with Cosmos Holdings and distribute their Sky Premium Life products in Germany and Austria. They have created high-quality nutritional supplements by combining carefully selected raw materials based on strict pharmaceutical standards and Good Manufacturing Practices protocols. We are witnessing increasing demand from consumers for nutraceuticals, and after extensive due diligence we believe their high-quality, premium nutraceutical and food supplement products are the perfect fit for our portfolio. We know that our partnership with Cosmos will add value to Mediprovita as we remain committed to enhancing the health of consumers.”
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. is an international pharmaceutical company, with a proprietary line of branded and generic pharmaceuticals, nutraceuticals, OTC medications and medical devices and an extensive, established EU distribution network. The Company identifies, acquires, develops and commercializes products that improve patients' lives and outcomes and has developed a global distribution platform in 17 European countries and the UK and is currently expanding throughout Europe, Asia and North America. Cosmos Holdings has offices and distribution centers in Thessaloniki, Greece, Athens, Greece and Harlow, UK. More information is available at www.cosmosholdingsinc.com and www.skypremiumlife.com.
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could”, are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company’s ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic on the Company’s business, operations and the economy in general, and the Company’s ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company’s filings with the SEC, which are available at the SEC’s website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.