Aterian Announces Further Expansion in Europe
22 February 2023 - 12:30AM
Aterian, Inc. (Nasdaq: ATER) (“Aterian” or the “Company”) today
announced that it is accelerating its expansion to Europe. Aterian
has launched an additional 15 new products in Europe and is working
towards maximizing its existing portfolio expansion by the end of
the year in the UK, Germany, France, Italy and Spain.
“We are excited about the rapid progress we are
making towards expanding our total addressable market. We now sell
approximately 90 products in Europe through Amazon and have been
working closely with their team and other logistics partners to
further scale our footprint. ” commented Mihal Chaouat-Fix, Chief
Supply Chain Officer of Aterian. “Expanding to Amazon Europe has
been a strategic goal for Aterian given that Germany and the UK
alone represent a $60B market with a promising growth trajectory.
While the last two years have slowed us down in terms of the number
of products deployed, we made significant progress in setting up
the necessary infrastructure required to scale. Now that shipping
costs are finally normalized we are working hard to bring our best
products to market.”
"International growth is a very important
opportunity for Aterian and I am excited to announce that we are
starting to address Europe in a meaningful way. While we do not
expect a material impact in our 2023 operating results from these
efforts, we believe that our investments this year will create
growth in 2024”, commented Yaniv Sarig, CEO of Aterian. “It’s
natural for us to leverage Amazon’s marketplaces to enter these new
countries given our history with the platform. Our ability to
quickly port listings, leverage our expertise with the
marketplace’s levers and benefit from the existing products social
proof through the global reviews program puts us in a strong
position from the moment the products arrive to our warehouse. Of
course, the time it takes to adjust the products to local
regulations, manufacture it and ship it are considerable but in the
long term we are confident in the positive impact on our
business.”
About Aterian, Inc.Aterian,
Inc. (Nasdaq: ATER) is a leading technology-enabled consumer
product platform that builds, acquires, and partners with
best-in-class e-commerce brands by harnessing proprietary software
and an agile supply chain to create top selling consumer products.
The Company’s cloud-based platform, Artificial Intelligence
Marketplace Ecommerce Engine (AIMEE™), leverages machine learning,
natural language processing and data analytics to streamline the
management of products at scale across the world's largest online
marketplaces with a focus on Amazon, Shopify and Walmart. Aterian
has thousands of SKUs across its many owned and operated brands and
sells products in multiple categories, including home and kitchen
appliances, health and wellness, beauty and consumer
electronics.
Forward Looking StatementsAll
statements other than statements of historical facts included in
this press release that address activities, events or developments
that we expect, believe or anticipate will or may occur in the
future are forward-looking statements including, in particular, the
statements regarding our expansion into Europe; maximizing
portfolio expansion; further scaling our footprint; the size of the
Germany and UK market and their potential growth trajectory; and
creating growth in 2024. These forward-looking statements are based
on management’s current expectations and beliefs and are subject to
a number of risks and uncertainties and other factors, all of which
are difficult to predict and many of which are beyond our control
and could cause actual results to differ materially and adversely
from those described in the forward-looking statements. These risks
include, but are not limited to, those related to customer demand
for our products in light of the current macroeconomic environment
in the U.S. and globally; global shipping disruptions; our ability
to continue as a going concern; Amazon’s continued use of the
global reviews program; our ability to meet financial covenants
with our lenders; our ability to create operating leverage and
efficiency when integrating companies that we acquire or have
acquired, including through the use of our team’s expertise, the
economies of scale of our supply chain and automation driven by our
platform; our ability to grow internationally and through the
launch of products under our brands and the acquisition of
additional brands; the impact of COVID-19, the war in the Ukraine,
the rising tensions between China and Taiwan and other
macroeconomic factors, including their impact on consumer demand,
our cash flows, financial condition, forecasting and revenue growth
rate; our supply chain including sourcing, manufacturing,
warehousing and fulfillment; our ability to manage expenses,
working capital and capital expenditures efficiently; our business
model and our technology platform; the impact of intangible assets
such as goodwill, and other impairments; disruptions to the
Company's information technology systems, including but not limited
to potential or actual security breaches of systems protecting
consumer and employee information or other types of cybercrimes or
cybersecurity attacks; our ability to disrupt the consumer products
industry; our ability to maintain and grow market share in existing
and new product categories; our ability to generate profitability
and stockholder value; international tariffs and trade measures;
inventory management, product liability claims, recalls or other
safety and regulatory concerns; reliance on third party online
marketplaces; seasonal and quarterly variations in our revenue and
expenses; acquisitions of other companies and technologies and our
ability to successfully integrate such companies and technologies
with our business; our ability to continue to access debt and
equity capital (including on terms advantageous to the Company) and
the extent of our leverage; and other factors discussed in the
“Risk Factors” section of our most recent periodic reports filed
with the Securities and Exchange Commission (“SEC”), all of which
you may obtain for free on the SEC’s website at www.sec.gov.
Although we believe that the expectations
reflected in our forward-looking statements are reasonable, we do
not know whether our expectations will prove correct. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof, even if
subsequently made available by us on our website or otherwise. We
do not undertake any obligation to update, amend or clarify these
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
Investor Contact:
Ilya Grozovsky Vice President of Investor
Relations & Corp. DevelopmentAterian,
Inc.917-905-1699
ilya@aterian.io
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