Business
Jowell Global Ltd. Signs Strategic Cooperation Agreement for COCOVEL brand with Shanghai Gesber Group to Jointly Seek Household Product Business Growth
Shanghai, China, June 08, 2021 (GLOBE NEWSWIRE) -- Jowell Global Ltd. (“JWEL” or the “Company”) (NASDAQ: JWEL), a company which operates one of China’s
About this update from Jowell Global Ltd.
[{"type":"text","content":"Shanghai, China, June 08, 2021 (GLOBE NEWSWIRE) -- Jowell Global Ltd. (“JWEL” or the “Company”) (NASDAQ: JWEL), a company which operates one of China’s leading cosmetics, health and nutritional supplements and household products e-commerce platforms - Juhao Mall, today announced that it has signed a strategic cooperation agreement with Shanghai Gesber Group (“Gesber”) on the latter’s fragrance personal care product brand COCOVEL to jointly seek business growth in domestic and international household product markets. A signing ceremony was held on June 5, 2021 with Xuyou Sun, President of Gesber and Zhiwei Xu, CEO and Chairman of the Company attending the ceremony. China’s household product market has grown by 5.83% from $85.68 billion in 2019 to $90.68 billion in 2020, accounting for 13.89% of global household product market, according to data compiled by market research company Forward (Qianzhan) Intelligence Co., Ltd. JWEL will be COCOVEL brand’s sales agent and help distribute COCOVEL products via LHH stores, Juhao Best Choice stores and via the Company’s online sales channels. The collaboration will extend to branding, supply chain and sales channel management, as Gesber and JWEL work together to experiment on innovative business models for market expansion. Mr. Sun commented: “COCOVEL is a brand with shampoo and body wash products that inherits the traditional fragrance technique of Gesber – France’s city famous for fragrance products – and is a world leading fragrance personal care product brand. It is a top sale brand online and offline with great growth potential both in China and overseas. “JWEL is an industry leader with both online and offline sales channels, which are extremely important for business success. Our collaboration connects demand with supply. With JWEL’s global sales network, we believe COCOVEL brand will grow both in China and in overseas markets with expanded sales channels,” Sun added. Mr. Xu said: “COCOVEL is famous for its unique fragrance, outstanding quality and product efficacy among consumers, which also help differentiate the brand from its competitors. JWEL will make use of its strong supply chain and sales network to further advance COCOVEL brand’s market share. We also look forward to cooperating with Gesber on its other brands and seeking mutual growth in household product market.” About Sh...