NextPlat Expands China E-Commerce Program to Include Broad Retail Distribution and Adds Digital/Social Media Marketing Capabilities with New Marketing Partner

New marketing partner to support expanded sales of OPKO branded products across China on additional e-commerce platforms, in-stores and launch domestic digital marketing programs

COCONUT GROVE, Florida., July 2, 2024 /PRNewswire/ — NextPlat Corp (NASDAQ: NXPL, NXPLW) (“NextPlat” or the “Company”), a global e-commerce solutions provider, today announced the expansion of its e-commerce development program in China through a new agreement with a leading Chinese healthcare and nutritional products marketing and distribution partner (the “Marketing Partner”). The Marketing Partner will provide NextPlat with a full range of creative content, brand marketing, and product sales and distribution services, and will support the Company’s exclusive e-commerce co-development agreement with OPKO Health Europe (“OPKO”), a subsidiary of OPKO Health, Inc. (NASDAQ: OPK).

As a marketing specialist in ChinaThe Marketing Partner currently supports international healthcare and nutritional products companies, including Nature Made and ITO, and provides logistics, warehousing and distribution services throughout China. The Marketing Partner has successfully developed and executed brand awareness campaigns for healthcare products on dozens of e-commerce sites, such as Tmall, JD and Temu by Alibaba, as well as digital/social platforms such as TikTok, Xiaohongshu, Weibo, Bilibili and WeChat. The Marketing Partner also supports distribution of products to brick-and-mortar stores, such as pharmacies, convenience stores and supermarkets, as well as to large American retail chains operating in China including Costco and Sam’s Club. The marketing partner is developing a series of digital product promotion programs for select OPKO products that are expected to drive NextPlat’s Chinese e-commerce sales this year. These marketing programs may include the use of well-known Chinese social media influencers, videos/live streams on social media platforms, and product articles and blogs to introduce OPKO products to potentially millions of consumers.

“Our unique e-commerce development program was created to give American companies access to online sales, marketing and distribution in China’s large consumer market without the significant international infrastructure investments that are typically required. By adding established marketing specialists in China“We believe we can provide our customers with a wider range of value-added services that can help increase product recognition and revenue,” he said Charles M. FernandezPresident of the Management Board and CEO of NextPlat.

According to the TMO Group (Health and dietary supplements, Chinese market, April 2024), China, with a rapidly growing middle class, is showing increasing interest in lifestyle and many over-the-counter health options, and rising income levels are supporting the focus on health and wellness. The report cites data from Euromonitor International showing that over the past five years, the market for health supplements (including vitamins and dietary supplements (VDS), sports nutrition, weight management and wellness, and herbal/traditional supplements) in China increased steadily, reaching approximately RMB387.9 billion (about $53.3 billion) in 2023 with a compound annual growth rate of 9.6%. It is expected that by 2028 the dietary supplements market in China will exceed 440 billion RMB (about $60.5 billion). The TMO Group report also indicates that the online channel is the most important channel for VDS products, especially for cross-border imports, and in 2023, health supplements from the United States and Australia were the first choice of Chinese consumers.

“Today’s new healthcare marketing partnership China expands our digital and physical reach, including potentially dozens of additional online platforms as well as retailers nationwide. Importantly, we can offer a valuable range of digital and social media promotion opportunities, delivered by a partner who has built a strong client portfolio in China“which will allow us to significantly increase sales of our first OPKO products,” he said David PhippsNextPlat President and CEO of Global Operations.

NextPlat e-commerce development program, implemented in cooperation with local Florida chambers of commerce, whose aim is initially to help Florida– Companies and manufacturers sell their products to potentially millions of new customers. The expansion program includes NextPlat’s turnkey global e-commerce solution and leverages the capabilities and reach of key partners, including Alibaba and its Tmall Global platform, and additional in-country marketing and distribution specialists who support cross-border solutions that enable global brands to reach Chinese consumers.

For more information about NextPlat, please visit www.NextPlat.com and connect with us on Facebook and X.

About NextPlat Corp
NextPlat is a global e-commerce platform designed to capitalize on a variety of rapidly growing sectors and markets, including technology and healthcare. Through acquisitions, joint ventures and collaborations, the company aims to help businesses sell their goods online, domestically and internationally, enabling customers and partners to optimize their e-commerce presence and revenue. NextPlat currently operates an e-commerce communications division offering voice, data, tracking and IoT products and services worldwide, and pharmaceutical and healthcare data management services in United States through its subsidiary Progressive Care Inc. (OTCQB: RXMD).

Forward-looking statements
Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company’s business and any of its products, services or solutions. The words “believe,” “forecast,” “project,” “intend,” “expect,” “plan,” “should,” “could” and similar expressions and all statements that are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, including the Company’s ability to launch additional e-commerce platforms, sell healthcare products in Chinaand its ability to grow and expand as intended, any of which could cause the Company to fail to achieve some or all of its goals or previously reported actual results, financial or operating results of the Company, including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that could affect the achievement of forward-looking statements is included in the Company’s filings with the Securities and Exchange Commission (the “SEC”), copies of which may be obtained on the SEC’s website at www.sec.gov. The Company does not undertake any obligation to update the forward-looking statements contained in this press release, and hereby disclaims any obligation to do so.

No offer or invitation
This press release is for informational purposes only and is not intended to, and shall not constitute, an offer to sell or the solicitation of an offer to sell or buy any securities or a solicitation of any proxy, consent, vote or approval with respect to any securities in connection with the proposed transaction between NextPlat and Progressive Care Inc. (“Progressive Care”) and is not a substitute for the Proxy Statement/Prospectus or any other document that NextPlat or Progressive Care may file with the SEC or send to NextPlat or Progressive Care stockholders in connection with the proposed transaction. No offer, sale, issuance or transfer of securities will be made in any jurisdiction in which such offer, sale, issuance or transfer would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Media and investor contact for NextPlat Corp:

Michael Glickman
MWGCO, Inc.
917-397-2272
(email protected)

SOURCE NextPlat Corp.