iFresh Announces Participation in Alipay Singles’ Day Sales Event
NEW YORK, Nov. 11, 2019 (GLOBE NEWSWIRE) — iFresh, Inc. (“iFresh” or “the Company”) (Nasdaq: IFMK), a leading Asian American grocery supermarket chain and online grocer, announced today that its five New York supermarkets will participate in Alipay Singles’ Day Sales Event where customers can receive a great selection of free gifts when spending $15 or more at participating stores by purchasing “1 Yuan Pre-sale Coupon” between November 11, 2019 to November 30, 2019 from the Alipay App.
Singles’ Day, November 11th, also known as Double Eleven (“11.11”) was created by Alibaba, the Chinese e-commerce giant on November 11th in 2009 as a special occasion for Chinese singles to treat themselves through retail therapy. Singles’ Day has become the largest offline and online shopping day in the world. Alipay is the mobile payments and lifestyle platform owned by Alibaba’s affiliate company, Ant Financial. During the annual Singles’ Day event, approximately 90% of Alibaba sales transactions take place over Alipay, which is used by more than 1.2 billion users.Mr. Long Deng, Chairman and Chief Executive Officer of iFresh commented: “We are excited to join Alipay’s Singles’ Day Sales Event to attract its massive users to shop in our supermarkets and capitalize on a month of robust consumer spending.”About iFresh, Inc.iFresh Inc. (NASDAQ:IFMK), headquartered in Long Island City, New York, is a leading Asian American grocery supermarket chain and online grocer on the east coast of U.S. With nine retail supermarkets along the US eastern seaboard (with additional stores in Glen Cove, Miami and Connecticut opening soon), and two in-house wholesale businesses strategically located in cities with a highly concentrated Asian population, iFresh aims to satisfy the increasing demands of Asian Americans (whose purchasing power has been growing rapidly) for fresh and culturally unique produce, seafood and other groceries that are not found in mainstream supermarkets. With an in-house proprietary delivery network, online sales channel and strong relations with farms that produce Chinese specialty vegetables and fruits, iFresh is able to offer fresh, high-quality specialty produce at competitive prices to a growing base of customers. For more information, please visit: http://www.ifreshmarket.com/.Forward-Looking StatementsCertain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Such forward-looking statements include timing of the proposed transactions; the business plans, objectives, expectations and intentions of the parties once the transactions are complete, and the Company’s estimated and future results of operations, business strategies, competitive position, industry environment and potential growth opportunities. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. All information provided in this press release is as of the date hereof. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.Additional information concerning these and other factors that may impact our expectations and projections can be found in our periodic filings with the SEC. IFMK’s SEC filings are available publicly on the SEC’s website at www.sec.gov. IFMK disclaims any obligation to update the forward-looking statements, whether as a result of new information, future events or otherwise.For more information, please contact:At the Company:iFresh, Inc.Email: firstname.lastname@example.org