Total VIP members as of September 30, 2022 were 2.4 million, an increase of 14.4% compared with 2.1 million as of September 30, 2021. Total LHH stores as of September 30, 2022 were 26,300, an increase of 1.6% compared to 25,888 as of September 30, 2021.Mr. Zhiwei Xu, Chief Executive Officer and Chairman of Jowell Global Ltd., commented: "Despite the adverse COVID impact in most of the cities in China, we continued to deliver another solid quarter with sustained topline growth. GMV in Q3 were $66.8 million, up 7.8% year over year, while total revenue grew by 17.2% year over year reaching $51.4 million. We are confident that our growth strategy plan not only has generated strong revenue growth but also will provide sustainable profits for us in the future due to the increased investments in customer engagement and conversion, enriched product offerings and partnerships, and the expectation of macro recovery. Additionally, we remain committed to collaborate with top global talents and companies to diversify our product offering and introduce premium international brands to Chinese consumers. In September, we announced strategic partnership with Italian based So.Di.Co Group to promote the sales of its organic and natural personal care products in China. In October, we announced another cooperative partnership with a leading European pharmaceutical company STADA,in which Jowell will be the exclusive distributor to sell its Zoflora products on Jowell’s e-commerce platform and accelerate its outreach in the cleaning and consumer products market in China. Looking ahead, we will continue to execute our growth strategies with a focus on optimizing our platform through product offerings catered to consumer needs, as well as acceleration of our partnerships with leading domestic and international brands."
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on JWEL:
