ATLANTA, GA / ACCESSWIRE / September 13, 2023 / Luvu Brands, Inc. (OTCQB:LUVU), a designer, manufacturer and marketer of a portfolio of consumer lifestyle brands, today announced the appointment of Martin Scott as Chief Financial Officer, effective September 1, 2023. He will succeed Alexander Sannikov, who will be stepping down from LUVU and will remain with the company through the end of September to ensure a smooth transition.
Martin Scott brings over three decades of corporate finance and accounting experience working with public and private companies of all sizes, scopes and industry sectors. Martin is a CPA and an experienced finance executive. Martin most recently served as Chief Financial Officer for a Company that completed a NASDAQ initial public offering. Martin has served as founder and executive officer of Martin Scott CFO Consulting Services Inc. since 2002. From March 2022 to January 2023, Martin served as chief financial officer of MGO Global, Inc. From 2018 to 2020, Martin served as principal accounting and financial officer of Puradyn Filter Technologies, Inc. Martin is widely recognized as an expert in SEC reporting, financial planning and analysis, capital formation, mergers and acquisitions, and audit planning and oversight.
"We are excited to welcome Martin Scott to Luvu Brands" said Louis Friedman, Founder and Chief Executive Officer. "Martin brings significant finance expertise, strategic planning capabilities, and deep experience at a range of consumer based companies, including a strong understanding of manufacturing. His skills and leadership capabilities are an outstanding fit as we embark on our strategic plans to reignite growth and drive profitability."
"I have admired Luvu Brands both as a consumer and executive in the Micro-cap markets," said Martin Scott. "I am thrilled to join LUVU at this pivotal moment and see a significant opportunity ahead for value creation. As the company embarks on plans, I look forward to working with the entire LUVU team to chart a clear path for profitable growth and shareholder value creation."
Friedman continued, "I also want to thank Alexander Sannikov for his significant contributions to our Company over the last year. Alexander was instrumental in 2022 building strong processes and an outstanding finance team."
"I'm proud of all that we have accomplished," said Alexander. "I look forward to working with our finance team to ensure a smooth transition and following the Company's success through its next chapter."
About Luvu Brands
Luvu Brands, Inc. designs, manufactures and markets a portfolio of consumer lifestyle brands through the Company's websites, online mass merchants and specialty retail stores worldwide. Brands include: Liberator ® a brand category of iconic products for enhancing sexual performance; Avana ®, sleep comfort pillows including inclined bed therapy products, assistive in relieving medical conditions associated with acid reflux, and surgery recovery, and Jaxx ® a diverse range of casual fashion daybeds, sofas and beanbags made from polyurethane foam and repurposed polyurethane foam trim.
Headquartered in Atlanta, Georgia, the Company occupies a 140,000 square foot vertically-integrated manufacturing facility and employs over 200 people.
The Company's brand sites include: www.liberator.com, www.jaxxbeanbags.com, www.avanacomfort.com plus other global e-commerce sites. For more information about Luvu Brands, please visit www.luvubrands.com.
Luvu Brands, Inc.
Chief Financial Officer
Phone # 770.246.6424
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties. Such forward-looking statements can be identified using words such as "should", "may", "intends", "anticipates", "believes", "estimates", "projects", "forecasts", "expects", "plans", and "proposes". These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict. You are urged to carefully review and consider any cautionary statements, and other disclosures, including the statements made under LUVU's Annual Report on Form 10-K for the fiscal year ended June 30, 2022 as filed with the Securities and Exchange Commission (the SEC) and our other filings with the SEC. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of LUVU and are difficult to predict. LUVU does not undertake any duty to update any forward-looking statements except as may be required by law. The information which appears on our websites and our social media platforms, including, but not limited to, Instagram and Facebook, is not part of this press release.
SOURCE: Luvu Brands, Inc.