CHICAGO, IL / ACCESSWIRE / April 5, 2022 / Cosmos Holdings, Inc. ("the Company") (NASDAQ:COSM), an international pharmaceutical company with a proprietary line of nutraceuticals and distributor of branded and generic pharmaceuticals, nutraceuticals, OTC medications and medical devices, today announced that the Company's subsidiary, SkyPharm S.A., a pharmaceutical wholesaler and distributor, is launching Sky Premium Life products on Amazon Singapore. Cosmos expects to have fifteen Sky Premium Life SKUs launched in the second quarter of 2022, and targets having all 85 SKUs listed on Amazon Singapore by year end.
According to GlobalData, a leading data and analytics company, the Singapore e-commerce market is expected to grow at a compound annual growth rate of 16.2% from $5.9 billion in 2021 to $10.7 billion in 2025. Contributing to this increase is a rise in consumer spending and a growing preference for online shopping.
"This marks another major step in the roll-out of our e-commerce and online distribution strategy as we enter new global markets. Thanks to the tremendous efforts of our team, I'm pleased to report we launched on Amazon Singapore ahead of schedule, as this was originally planned for the second half of 2022," stated Greg Siokas, Chief Executive Officer of Cosmos Holdings. "Singapore is a major e-commerce market in southeast Asia, and it continues to grow. The COVID-19 pandemic shifted consumer buying behavior towards online channels, while demand for nutraceutical products continues to increase, driven by an aging population. Through our R&D department, we continue to create new Sky Premium Life products that are based on unique formulations using high quality raw materials, while maintaining pharmaceutical standards and GMP protocols. In addition to our e-commerce strategy, we continue to add new international distributors. We look forward to entering a number of new global markets this year including North America and Asia."
About Cosmos Holdings, Inc.
Cosmos Holdings Inc. (Nasdaq:COSM) is an international pharmaceutical company, with a proprietary line of nutraceuticals and distributor of branded and generic pharmaceuticals, nutraceuticals, OTC medications and medical devices through an extensive, established EU distribution network. The Company identifies, acquires, develops and commercializes products that improve patients' lives and outcomes. Cosmos has developed a global distribution platform 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.
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SOURCE: Cosmos Holdings, Inc.