iFresh Announces Strong 2021 Harvest and Sales of Exotic Fruit Products
August 02 2021 - 8:30AM
iFresh, Inc. (“iFresh” or the “Company”) (Nasdaq: IFMK), an Asian
American grocery supermarket chain and online grocer, is pleased to
announce that its sales of dragon fruit, lychee, and longan this
year have been strong. The increase in sales is due to a bountiful
harvest from Dragon Seeds, a 15-acre farm based in Vero Beach, FL,
that specializes in organically-grown Mibao dragon fruit and
exclusively supplies its dragon fruits to iFresh. Mr. Long Deng,
Chairman of iFresh, owns the majority of Dragon Seeds.
Dragon fruit has become a profitable and sustainable product,
growing from a niche product into an increasingly popular exotic
fruit in the United States. It is highly in demand from Asian
communities, as well as local supermarkets across the country.
Similarly, longan and lychee are growing in demand, though they are
mainly targeted to ethnic markets, with a focus on Asian
communities. The demand for dragon fruit, longan, and lychee
continues to grow as other communities gradually learn about and
develop a taste for them.
Mr. Long Deng, Chairman of iFresh, commented, “I am excited, but
not surprised, to see our fruit product sales grow this year. Our
partnering farms have had one of the strongest harvests despite the
challenging weather, thanks to their sustainable organic farming
technology. In fact, not only has the quantity of fruit improved
but also the quality, leading to the huge spike in exotic fruit
sales we have seen this year.”
He continued, “As a result, iFresh’s 2021 sales of dragon fruit,
longan, and lychee are expected to reach $1.2 million, $350,000,
and $350,000, respectively. We are building a robust supply chain
to avoid impact under unpredictable events, such as the
continuation of the pandemic. In the meantime, our team will
continue to work diligently to keep the momentum and further build
business throughout the rest of 2021 and beyond.”
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 the U.S. With nine retail
supermarkets along the US eastern seaboard (with additional stores
in Glen Cove, Miami and Connecticut opening soon), and one in-house
wholesale business 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
StatementThis press release contains within the meaning of
the Private Securities Litigation Reform Act of 1995. These
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: carrie@ifreshmarket.com
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