Loading, Please Wait...
TAMPA, Fla., Sept. 10, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Umbra Applied Technologies Group (UATG:PK) subsidiary Umbra Applied Technologies (UAT), announced this morning that its highly touted antimicrobial line of high-tech athletic wear, Hygieia™, will be available for the first time in the company’s history, in both Mexico and Canada. The product line is available via Amazon.ca and Amazon.mx this month and marks a significant expansion of its retail sales channel with a targeted audience of 159 million consumers combined.
It has been estimated that retail ecommerce sales in Canada climbed nearly 30% in 2017. Robust domestic channels for online shopping combined with considerable commitments from multinational retailers to improve ecommerce in Canada are driving this substantial growth. Retail e-commerce is projected to account for nine percent of retail sales in Canada this year, as the country’s 19.8 million e-commerce consumers continue to rely on online sales platforms to fulfill their shopping needs. For UAT, the Canadian market means more consumers from its own hemisphere will now have a platform that provides them with easier access to their high-tech active wear.
When asked what was behind the timing of its expansion into Canada, Chief Executive Officer of UAT, Alex Umbra replied, “Canadians spent $26.6 billion shopping online in 2016, or about $730 per capita compared to the $1,230 that U.S. consumers spent. This year e-commerce sales in Canada are projected to grow from $32 billion in 2017 to $71 billion in 2021, representing 66% of retail growth in Canada. That means that from 2016 to 2017, retail growth in Canada grew by more than 20% and is expected to grow more than 100% over the next 4 years. This is almost certainly one of the reasons why Amazon has opened a fulfillment center every year in Canada since 2011 and in doing so, has captured 7% of the e-commerce in Canada. This represents nearly 5 million consumers we can instantly target with our Hygieia marketing and sales apparatuses. Additionally, as Amazons footprint grows, so will our sales channels associated with Amazon which brings potential consumer growth to target another 25-30 million customers. For us it was a no brainer and the only delay was in ensuring we had a firm grasp on the logistics needed to deliver our products to Canadian consumers”.
Mexico’s population of 122.3 million people and growing economy have positioned it to be one of the most sought-after e-commerce sales channels and UAT intends to capture it. There’s a strong middle class emerging in Mexico with more disposable income than previous generations. While 13% of households currently earn an estimated 2,800 USD/month, the country is currently on pace to have an additional 9% join this group by the end of this year. This represents a significant opportunity for UAT and its Hygieia™ line of products.
Mr. Umbra commented on its expansion into the thriving Mexican economy, “As Mexico’s top retailer targeting an estimated 123 million consumers, the expansion of our retail sales channel through Amazon presents a unique and exponential growth, opportunity to service a market which right now is in excess of $12 billion with double digit growth. While Mexico is in the early stages of its e-commerce growth cycle, it is projected to become one of the top 10 economies in the world as demonstrated by its impressive growth over the past 5 years”.
Chief Financial Officer, Thomas Crom added, “Online sales in Latin America are expected to grow 19% over the next five years, well above the global average of 11%. Additionally, this new market is projected to double in value to $118 billion in 2021. Two of the three fastest-growing eCommerce markets in the world are in Latin America, which present a unique and powerful opportunity for us to build our global sales channels”.
UAT also indicated that its planning to begin its expansion in to the UK, EU and Asia markets in the early half of 2019. With over 330 million internet users in Southeast Asia alone and a European ecommerce market that has grown 13% this year alone, totaling nearly $700 billion dollars, UAT’s entrance into these markets could potentially mean significant sales growth for one of its most popular products.
About Umbra Applied Technologies, Inc.
Umbra Applied Technologies is a member of the Umbra Applied Technologies Group (OTC: UATG) family of companies. Headquartered in Tampa, Florida UAT Group is a technology and innovation leader specializing in defense, civil government and technology solutions. UAT Group is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services for defense, civil, and commercial applications in United States and internationally. It also provides management, engineering, technical, scientific, logistic, and information services
For more information visit www.uatgroup.com or www.umbraappliedtechnologies.com
Investor and Media Contact: Everest Corporate Advisors, Inc.
(702) 902-2361 (702) 982-1339
NEITHER THE SECURITIES EXCHANGE COMMISION NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
This news release may include "forward-looking statements" including forecasts, estimates, expectations, and objectives for future operations including but not limited to its ability to conclude a business combination with a third party, sale of assets, return of capital or initial public offering and a secondary listing on the OTC as a result of aforementioned and its ability to fund the exploration of its assets through the raising of equity or debt capital or through funding by a joint venture partner that are subject to a number of assumptions, risks, and uncertainties, many of which are beyond the control of Umbra Applied Technologies including but not limited to capital markets and securities risks and continued development success on technology. There can be and are no actual or implied guarantees that any of the above activities will be completed or completed on terms acceptable to the Company and its shareholders or approved by any regulatory authority having jurisdiction. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Risks and uncertainties about Umbra Applied Technologies business are more fully discussed in the company's disclosure materials, including its MD&A, filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. Umbra Applied Technologies does not assume the obligation to update any forward-looking statement, except as required by applicable law.