NEWS NEWS NEWS Medgen signs deal with Hong Kong-based Fulfillment Company to begin Asia initiative as part of global expansion
PR Newswire
HOLBROOK, N.Y., Feb. 16, 2016
HOLBROOK, N.Y., Feb. 16, 2016 /PRNewswire/ -- Medgen, Inc. (OTCPink: MDIN) today announced that their international distribution push is going to start with an Asia-Pacific initiative spearheaded in partnership with a Hong Kong-based fulfillment center.
Putting product on retail shelves can be a very time consuming effort, which is why as Medgen gets closer to domestic big-box retail distribution, the company is beginning its move toward closing several global opportunities. This strategy started with the expansion of product distribution into Canada recently, with intensions of finalizing deals in Asia as well. "We've had success nationally, and no longer want to think only on a 'local' level. We will aggressively expand globally and this marks the start of that strategy," says Matthew Briggs, CEO.
In order to avoid very expensive shipping charges and extended delivery times due to dealing with customs inspections, region specific fulfillment centers must be used. While the typical process of getting a deal with an overseas fulfillment center requires large cash deposits and complicated approvals, the merit of Medgen's product line and heightened interest from Asian retailers has made the job a lot easier. This most recent deal was the result of that interest and merit. Management assures everyone that this is just the beginning however, and Medgen plans to add fulfillment centers in many other regions throughout the world in the coming months. The company looks forward to closing similar partnerships throughout Europe, Australia, and South America enabling a seamless integration with retailers worldwide.
This multi-nation approach will not be easy for the company by any means. Once products hit shelves domestically, management feels global distribution will not be far behind, and the company will have to be prepared for that tremendous growth without imploding. Fortunately, Mr. Briggs already has several creative strategies laid out to fund large P.O.'s with minimal shareholder dilution, and to scale manufacturing up to a hundred times the current capacity with little or no difficulty. These are all strategies that have been on the drawing board for a very long time and have been refined by Mr. Briggs over the course of the past year in preparation. While management agrees that the company has had some difficulty in the past with large expansion, the feeling is that with the current level of experience and partners in place, there is tremendous confidence that Medgen, Inc. is back on its way to being "Great Again."
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