Business
Iconic Brands Issues May 2020 Shareholder Letter
Iconic Brands Issues May 2020 Shareholder Letter.
About this update from Iconic Brands, Inc.
[{"type":"text","content":"\n ·       Stellar financial results for year-end 2019 with revenue growth of 114% and first quarter of 2020 revenue growth of 233% year-over-year ·       Successful shift to online sales to keep up with demand during COVID-19 ·       Goal to uplist to national exchange within 12 months Amityville, NY, May 21, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Iconic Brands, Inc. (ICNB) (“Iconic” or the “Company”), a lifestyle branding company with the highest expertise of developing, from inception to completion, alcohol beverage products for itself and third parties, today announced that the Company has issued a May 2020 Letter to Shareholders on recent highlights, developments, financial results, and new business opportunities. Recent Company highlights include: Exceptional growth over the past several months, including a revenue increase of 370% year-over-year for its fourth quarter of 2019, topping the previous three quarters combinedRevenue growth for the first quarter of 2020, up 233% from the prior year periodBuilding solid traction with all existing offerings and continuing to add more product lines and brands to a growing portfolio of wines and spiritsContinued success with sales of the Bellissima line of Prosecco and Sparkling Wines online and on QVC   Philanthropic campaign with Christie Brinkley benefiting Direct Relief to aid relief efforts for COVID-19Strategically positioned to generate more revenue from online sales during this shift in the economyA goal over the next 12 months to uplist shares to a national stock exchange “During these unprecedented times, we are working tirelessly and taking all necessary steps to advance our projects while keeping in mind the well-being of our employees, stakeholders, partners, and customers,” stated Richard DeCicco, Chief Executive Officer of Iconic. “Despite the current challenges facing the economy, we have been nimble in seeking out opportunities to continue the growth of the Company. We are coming off a strong year and a fantastic first quarter, during which we ramped up inventory, increased our online platform exposure, and strengthened our brands. Additionally, we are in the midst ...