LiveOne (NASDAQ: LVO) Brands Expands into California and Georgia’s $47 Billion Wine Markets
- Expands distribution of “Birthday Sex” wine in collaboration with R&B star Jeremih
- Enters into distribution partnerships with SOKO and Kelly Family Distributors
LOS ANGELES, Sept. 24, 2024 (GLOBE NEWSWIRE) -- LiveOne (NASDAQ: LVO) Brands is proud to announce its Birthday Sex Wine will expand into the thriving wine markets of California and Georgia, collectively valued at $47 billion. This strategic move aligns with the company’s commitment to diversity and inclusion in the beverage industry.
As part of this initiative, LiveOne has partnered with SOKO, California's first Black-owned and woman-owned distributor, to enhance its presence in California. In Georgia, the company is collaborating with Kelly Family Distributor, the premier distributor for Black-owned wine and spirits brands, ensuring a robust foothold in the local market.
LiveOne CEO Robert Ellin commented, “LiveOne is excited to partner with SOKO and Kelly Family Distributors to expand the launch of “Birthday Sex” wine, a collaboration with R&B star Jeremih and esteemed wine-maker Russell Bevan. Wine consumption is tied to cultural events and celebrations, providing an opportunity for brands to engage with communities. Additionally, LiveOne plans to expand distribution to more states imminently, further solidifying its commitment to promoting inclusivity while providing high-end wine to the growing population of multi-cultural consumers.”
For more information on availability, follow Birthday Sex Wine on Instagram at @BirthdaySexWine.
About LiveOne
Headquartered in Los Angeles, CA, LiveOne (Nasdaq: LVO) is an award-winning, creator-first, music, entertainment, and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. LiveOne's subsidiaries include Slacker Radio, PodcastOne (Nasdaq: PODC), PPVOne, CPS, LiveXLive, DayOne Music Publishing, Drumify and Splitmind. LiveOne is available on iOS, Android, Roku, Apple TV, Spotify, Samsung, Amazon Fire, Android TV, and through STIRR’s OTT applications. For more information, visit liveone.com and follow us on Facebook, Instagram, TikTok, YouTube and Twitter at @liveone. For more investor information, please visit ir.liveone.com.
About SOKO Distributors
SOKO Distributors, a subsidiary of The Wachira Group, is a Tier 1 supplier, WBENC & MBE certified, and the first black-owned and woman- owned distributor, importer, exporter of wine, beer, and liquor licensed in California. Founded in 2017 to be a market disruptor of the alcohol industry structure by funneling high quality underrepresented small, medium and large-scale producers into markets. We grow our clients' market share across the United States, while leveraging our Californian in-state footprint. We have a broad reach, having served Delta Airlines at both SFO and LAX airports and 38 Total Wines & More across California. We are currently East African Breweries Limited (EABL) contracted importers of Tusker Beer into the U.S.
About Kelly Family Distributors
KF Distributors in Atlanta, GA was founded by Ricardo Kelly. Kelly noticed a vastly increasing number of black-owned wine and spirits businesses having difficulty obtaining a distributor willing to showcase their products in front of retailers. He then created KF Distributors to change that narrative and to provide these brands with a platform that will produce actual results. Being the only veteran black-owned liquor distribution company speaks volumes. “We want to be a one-stop shop for new spirit producers and existing companies. We can help create, design, warehouse, distribute, and ultimately grow brands utilizing the latest marketing and sales technology and through our robust network of stores and restaurants. “, said Kelly. The team leverages insights into the industry and an understanding of market demographics to position these wine and spirit brands in ways that will attract consumers. KF Distributors takes pride in representing quality premium brands from across the country, that offer the consumer high-quality products at a true price value. KF Distributors continues to grow and will expand into multiple states within the United States.
Forward-Looking Statements
All statements other than statements of historical facts contained in this press release are “forward-looking statements,” which may often, but not always, be identified by the use of such words as “may,” “might,” “will,” “will likely result,” “would,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or the negative of such terms or other similar expressions. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including: LiveOne’s reliance on one key customer for a substantial percentage of its revenue; LiveOne’s ability to consummate any proposed financing, acquisition, spin-out, special dividend, merger, distribution or transaction, the timing of the consummation of any such proposed event, including the risks that a condition to the consummation of any such event would not be satisfied within the expected timeframe or at all, or that the consummation of any proposed financing, acquisition, spin-out, merger, special dividend, distribution or transaction will not occur or whether any such event will enhance shareholder value; LiveOne’s ability to continue as a going concern; LiveOne’s ability to attract, maintain and increase the number of its users and paid members; LiveOne identifying, acquiring, securing and developing content; LiveOne’s intent to repurchase shares of its and/or PodcastOne’s common stock from time to time under LiveOne’s announced stock repurchase program and the timing, price, and quantity of repurchases, if any, under the program; LiveOne’s ability to maintain compliance with certain financial and other covenants; LiveOne successfully implementing its growth strategy, including relating to its technology platforms and applications; management’s relationships with industry stakeholders; uncertain and unfavorable outcomes in legal proceedings; changes in economic conditions; competition; risks and uncertainties applicable to the businesses of LiveOne’s subsidiaries; and other risks, uncertainties and factors including, but not limited to, those described in LiveOne’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024, filed with the U.S. Securities and Exchange Commission (the “SEC”) on July 1, 2024, and in LiveOne’s other filings and submissions with the SEC. These forward-looking statements speak only as of the date hereof, and LiveOne disclaims any obligation to update these statements, except as may be required by law. LiveOne intends that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995.
LiveOne IR Contact:
Liviakis Financial Communications, Inc.
(415) 389-4670
john@liviakis.com
LiveOne Press Contact:
LiveOne
press@liveone.com
Follow LiveOne on social media: Facebook, Instagram, TikTok, YouTube, and Twitter at @liveone.
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