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NextPlat Opens OPKO Health-Branded Storefront on Alibaba's Tmall Global Platform in China on March 1st

February 28, 2024 9:31 AM

New Health and Wellness E-Commerce Storefront Launches After Receiving All Required Approvals with Initial Selection of OPKO Health Products

COCONUT GROVE, Fla., Feb. 28, 2024 /PRNewswire/ -- NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or the "Company"), a global e-Commerce provider, today announced that its exclusive OPKO Health-branded storefront on Alibaba Group Holding Limited's ("Alibaba")(NYSE: BABA) Tmall Global in China has received all required approvals and is scheduled to officially launch on March 1st.

Under terms of the exclusive joint e-commerce development agreement with OPKO Health Europe ("OPKO"), a subsidiary of OPKO Health, Inc. (NASDAQ: OPK), NextPlat is officially launching the OPKO Health-branded online storefront on Alibaba's Tmall Global e-commerce platform in China. The new online storefront initially lists health and wellness products featuring an assortment of nutraceuticals for bone, joint and eye health as well as supplements for nutrition and immunity and defense, the sales of which will create a new international e-commerce revenue stream for the Company. NextPlat intends to significantly expand the OPKO online storefront with a wide array of veterinary and animal health products early in the second quarter of 2024 subject to receipt of the final government approvals. All in-country sales and marketing support for the OPKO Health Tmall Global e-commerce site is being provided by a local online specialist, a Tmall Global-preferred merchant partner.

"The launch of the OPKO Health e-commerce storefront in China on Alibaba's Tmall represents a strategic expansion of our e-commerce growth plans as we further expand into large new product categories such as health and wellness. Together with our partners, we intend to continue growing our offerings and driving significant new e-commerce revenue by serving the unmet needs of potentially millions of new consumers in China and around the world," said Charles M. Fernandez, Executive Chairman and CEO of NextPlat.

The sales of OPKO products in China will be managed through NextPlat and will be made available to purchase for Chinese consumers through Tmall Global. Tmall Global is China's leading import e-commerce platform where consumers can access over 46,000 international brands.

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, a premier B2C cross-border solution for global brands to reach Chinese consumers. NextPlat intends to expand this unique e-commerce development opportunity to businesses throughout the United States, North America as well as in Central and South America.

For more information about NextPlat, please visit www.NextPlat.com and connect with us on Facebook and X (formerly Twitter).

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 and pharmacy and healthcare data management services in the United States through its subsidiary, Progressive Care Inc. (OTCQB: RXMD).

About Tmall Global
Launched in 2014, Tmall Global is Taobao and Tmall Group's dedicated channel for import e-commerce. Addressing the increasing Chinese consumer demand for international products and brands, Tmall Global is China's leading import e-commerce platform. It is the premier platform through which international brands and retailers reach Chinese consumers, build brand awareness, and gain valuable consumer insights without the need for physical operations in China. Today, there are more than 46,000 brands from over 90 countries and regions on Tmall Global.

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 capabilities for physical and digital assets, transact business in crypto currencies 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
[email protected]

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SOURCE NextPlat Corp.

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