MIAMI, FL, LONDON, UK, and NEW YORK, NY / ACCESSWIRE / February 15, 2024 / MGO Global Inc. (Nasdaq:MGOL), a digitally-native, lifestyle brand portfolio company, ("MGO" or the "Company") today announced that following the Company's review of its preliminary, unaudited financial results for the year ended December 31, 2023, the Company expects to report an approximate 400% increase in year-over-year revenue growth. These preliminary results are unaudited and subject to the completion of MGO's financial reporting processes, reviews, audit and potential adjustments that might result.
Maximiliano Ojeda, Co-Founder, Chairman and CEO of MGO, stated, "When we report our audited results, we expect to confirm that our 2023 revenue growth was due in large measure to the strong direct-to-consumer sales performance of our new Stand Flagpoles brand (www.standflagpoles.com), complemented by higher sales of Messi Brand products marketed direct-to-consumers through The Messi Store (www.themessistore.com)."
Continuing, Ojeda said, "When reflecting on the mission critical objectives we set for ourselves in 2023 - completing our Initial Public Offering, commencing trading on Nasdaq, and investing in and executing on our plan to expand our portfolio of lifestyle brands, we take great pride in the progress our team has made. Now that 2024 is well underway, we look forward to demonstrating through performance and planned strategic initiatives our unwavering commitment to optimizing value creation for our fellow shareholders. To that end, we expect that 2024 will ultimately prove to be a very exciting and eventful year for MGO. Nonetheless, we recognize that there is much hard work ahead of us and we aim to deliver."
MGO expects to file its Annual Report on Form 10-K with the U.S. Securities and Exchange Commission for the 12 months ended December 31, 2023 on or before April 1, 2024. At that time and in keeping with its quarterly practice, management plans to host a webcast to review the results.
About MGO Global Inc.
MGO Global is actively engaged in building a portfolio of independent, digitally native, lifestyle brands, which are unique and differentiated, yet all defined by distinctive, high-quality products and a shared commitment to delivering high-touch customer experiences across its ecommerce and wholesale channels. MGO is currently comprised of three business units: MGOTeam 1 which operates the The Messi Store, offering a premium line of functional and sporty casual wear, accessories and homewares in collaboration with legendary pro soccer player Leo Messi and created by Ginny Hilfiger, our co-founder and chief brand officer; Americana Liberty, which markets a growing, high-end line of thoughtfully curated home and outdoor products, including Stand Flagpoles; MGO Digital, which leverages data analytics, advanced technology-enabled marketing and our leadership's industry relationships and expertise to identify, incubate and introduce to market new, authentic lifestyle brand concepts. For more information on MGO Global, please visit www.mgoglobalinc.com.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to achieve its expected 400% increase in year-over-year revenue growth for the year ended December 31, 20233 and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, customer acceptance of new products, and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company's products and the Company's customers' economic condition, the impact of competitive products and pricing, successfully managing and perpetuating the Company's licensing rights with Leo Messi Management, general economic conditions and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.
CONTACT INFORMATION:
MGO Global Inc.
FOR MEDIA AND INVESTOR RELATIONS
Dodi Handy, Director of Communications
Email: ir@mgoteam.com
SOURCE: MGO Global
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