$UPIN NEWS! Play Market 1, LTD Sets Record With its Indigo Brand for the Fourth Quarter
Great Neck, New York, January 7, 2020 – Play Market a wholly-owned subsidiary of Universal Power Industry Corporation (OTC: UPIN) today announced that they have set a company record with order increases of 28% for the company’s 2nd quarter (fiscal year) fourth quarter calendar year.
The company began working last year to transition our Indigo PeopleTM brand manufacturing from China to lower tariff countries, in particular Vietnam thus reducing manufacturing and import costs, for certain lines. We have also been increasing our commitment to finishing some lines in the USA.
As a result of these initiatives, our expanded men’s line and our new misses’ line have achieved a 28% increase in orders, a company record. The Indigo People TM brand is being carried in Mexico the United States and Canada and can be found in major outlets and online.
Tony Chiu, president stated: “We expect our recent investments and manufacturing decisions in Play Market will continue producing increased solid financial results with our 2020 lines.”
Mr. Chiu added: “The company’s Play Market subsidiary’s Indigo People TM brand continues to provide sufficient cash flow to pursue our recent technology investment strategy.”
About Universal Power Industry Corporation:
Universal Power Industry Corporation (UPIN) is a diversified holding company that owns, invests and or manages select businesses, and on special opportunities will provide financing solutions to companies at various developmental stages. Our business objectives cover a wide range of sectors from consumer/industrial products, technology research, development/startups. Please follow us on social media for additional updates at Facebook, Twitter and OTCMarkets.
Statements contained in this release, other than those identifying historical facts, constitute "forward- looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward- looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
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