Aterian Announces Further Expansion in Europe
Products Now Selling in Five European Countries
NEW YORK, Feb. 21, 2023 (GLOBE NEWSWIRE) -- Aterian, Inc. (Nasdaq: ATER) (“Aterian” or the “Company”) today announced that it is accelerating its expansion to Europe. Aterian has launched an additional 15 new products in Europe and is working towards maximizing its existing portfolio expansion by the end of the year in the UK, Germany, France, Italy and Spain.
“We are excited about the rapid progress we are making towards expanding our total addressable market. We now sell approximately 90 products in Europe through Amazon and have been working closely with their team and other logistics partners to further scale our footprint. ” commented Mihal Chaouat-Fix, Chief Supply Chain Officer of Aterian. “Expanding to Amazon Europe has been a strategic goal for Aterian given that Germany and the UK alone represent a $60B market with a promising growth trajectory. While the last two years have slowed us down in terms of the number of products deployed, we made significant progress in setting up the necessary infrastructure required to scale. Now that shipping costs are finally normalized we are working hard to bring our best products to market.”
"International growth is a very important opportunity for Aterian and I am excited to announce that we are starting to address Europe in a meaningful way. While we do not expect a material impact in our 2023 operating results from these efforts, we believe that our investments this year will create growth in 2024”, commented Yaniv Sarig, CEO of Aterian. “It’s natural for us to leverage Amazon’s marketplaces to enter these new countries given our history with the platform. Our ability to quickly port listings, leverage our expertise with the marketplace’s levers and benefit from the existing products social proof through the global reviews program puts us in a strong position from the moment the products arrive to our warehouse. Of course, the time it takes to adjust the products to local regulations, manufacture it and ship it are considerable but in the long term we are confident in the positive impact on our business.”
About Aterian, Inc.
Aterian, Inc. (Nasdaq: ATER) is a leading technology-enabled consumer product platform that builds, acquires, and partners with best-in-class e-commerce brands by harnessing proprietary software and an agile supply chain to create top selling consumer products. The Company’s cloud-based platform, Artificial Intelligence Marketplace Ecommerce Engine (AIMEE™), leverages machine learning, natural language processing and data analytics to streamline the management of products at scale across the world's largest online marketplaces with a focus on Amazon, Shopify and Walmart. Aterian has thousands of SKUs across its many owned and operated brands and sells products in multiple categories, including home and kitchen appliances, health and wellness, beauty and consumer electronics.
Forward Looking Statements
All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements including, in particular, the statements regarding our expansion into Europe; maximizing portfolio expansion; further scaling our footprint; the size of the Germany and UK market and their potential growth trajectory; and creating growth in 2024. These forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties and other factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to, those related to customer demand for our products in light of the current macroeconomic environment in the U.S. and globally; global shipping disruptions; our ability to continue as a going concern; Amazon’s continued use of the global reviews program; our ability to meet financial covenants with our lenders; our ability to create operating leverage and efficiency when integrating companies that we acquire or have acquired, including through the use of our team’s expertise, the economies of scale of our supply chain and automation driven by our platform; our ability to grow internationally and through the launch of products under our brands and the acquisition of additional brands; the impact of COVID-19, the war in the Ukraine, the rising tensions between China and Taiwan and other macroeconomic factors, including their impact on consumer demand, our cash flows, financial condition, forecasting and revenue growth rate; our supply chain including sourcing, manufacturing, warehousing and fulfillment; our ability to manage expenses, working capital and capital expenditures efficiently; our business model and our technology platform; the impact of intangible assets such as goodwill, and other impairments; disruptions to the Company's information technology systems, including but not limited to potential or actual security breaches of systems protecting consumer and employee information or other types of cybercrimes or cybersecurity attacks; our ability to disrupt the consumer products industry; our ability to maintain and grow market share in existing and new product categories; our ability to generate profitability and stockholder value; international tariffs and trade measures; inventory management, product liability claims, recalls or other safety and regulatory concerns; reliance on third party online marketplaces; seasonal and quarterly variations in our revenue and expenses; acquisitions of other companies and technologies and our ability to successfully integrate such companies and technologies with our business; our ability to continue to access debt and equity capital (including on terms advantageous to the Company) and the extent of our leverage; and other factors discussed in the “Risk Factors” section of our most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), all of which you may obtain for free on the SEC’s website at www.sec.gov.
Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Vice President of Investor Relations & Corp. Development