Mohawk Group Holdings (NASDAQ: MWK) today announced the acquisition of the assets of e-commerce company Healing Solutions LLC, a leading online essential oil seller. According to the update, Healing Solutions unaudited trailing 12-month sales and operating income excluding inventory liquidations were approximately $ 65.2 million and $ 12.7 million as of October 31, 2020, respectively. “Our mission to build the leading platform for e-commerce consumer brands has taken another significant step forward today. We are very excited to enter the essential oils category, which further diversifies our e-commerce brand portfolio, ”said Yaniv Sarig, Co-Founder and CEO of Mohawk Group Holdings. “Consumables with recurring purchases and subscription income that complement our hardware brands were on our radar. Our strategy of creating a supply chain and technology platform for running e-commerce brands across a wide range of categories on a large scale continues to bear fruit. We are still in the early stages of realizing our ambitious goals and look forward to developing new products for the brands we acquire and expanding their reach internationally. “
The full press release can be found at https://ibn.fm/5tjVf
About Mohawk Group Holdings Inc.
Mohawk Group Holdings, along with its subsidiaries (“Mohawk”), is a rapidly growing technology-based consumer products company that uses machine learning, natural language processing, and data analysis to design, develop, market and sell products. Mohawk operates mostly through online retail channels such as Amazon and Walmart. In addition to Healing Solutions, Mohawk has eleven brands of its own and sells products in a variety of categories including household and kitchen appliances, kitchen appliances, environmental devices (i.e. dehumidifiers and air conditioners), beauty products and, to a lesser extent, products. Consumer electronics. Mohawk was founded on the premise that a company selling packaged consumer goods today would employ artificial intelligence and machine learning, the synthesis of massive amounts of data and the use of social evidence to validate high-profile product offerings as opposed to excessive applications – trust in brand equity and others traditional marketing tactics. More information is available at www.ir.Mohawkgp.com.
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