OOOOO to convert 20,000 sq ft warehouse into interactive video hub in Manchester, UK
November 04 2021 - 8:00AM
OOOOO Entertainment Commerce Limited (“OOOOO”) (OOOO:TSXV), a
mobile video commerce platform, is pleased to announce that it has
started construction at their recently leased 20,000 square foot
commercial space in Manchester, United Kingdom.
The new studio complex in Trafford park will be
ready in two phases, starting December 2021 and February 2022. The
company also has opened another 5,000 sq ft studio in Manchester
which is already operational with an additional studio in Camden
Market, London which is already live
When complete, OOOOO's headquarters in Trafford
Park, Manchester will be an interactive filming hub, a stage
designed for creating over 100 live shows per day for clients
across a wild variety of sets and themed spaces. OOOOO's current
clients include JD Sports, Look Fantastic, Boohoo, and
Tiktok.
"We spent months looking for our company HQ.
This is a space for clients to gather and explore creative concepts
around how they express their brand through video. It is a space to
study data in real time as you create content. It is also a place
where we can train clients in this new form of commerce, so that
they are able to take these skills back to their company. Within
the studio, we have an abundance of sets for content creation and
the ability to customize for clients as they need.” stated Tom
Judge, COO of OOOOO.
"Our vision is that this space will become a
genuine alternative to retail stores. Instead of having many shops
on highstreets, we propose to have access to branded space here
where you can broadcast your products and services in real time,
backed by data. We believe this is a much more efficient way to
reach consumers and convert sales. Our clients are hungry for
new ways to connect to consumers, but do not necessarily have the
space, people, or equipment to create such engaging video content.
We believe this space will take away this stress as we offer "Live
as a Service" to clients and partners as well as offer an ecosystem
to meet industry peers and the creator community,” commented Sam
Jones, CEO of OOOOO.
UBS are estimating that 80,000 retail stores
will shut across the US by 2026. That assumes e-commerce sales rise
to represent 27% of total retail sales, up from 18% today (Source:
CNBC). Sam Jones further commented: “There is much commentary that
the retail industry is collapsing, but we believe it just needs to
be reimagined using new technology. The best presenters on video
commerce tend to be charismatic people from the traditional retail
industry who have a good work ethic, know products, and are strong
communicators. We expect to bring many such retail workers to
operate from our studios and embrace this new form of
commerce”.
OOOOO has appointed Manchester based interior
designer and place maker Sheila Bird Studio to help complete the
project. "The new studio is a celebration of technology shopping
passion and desire. We are super proud to be involved with
something so revolutionary. It’s been an inspiration working with
Sam and the rest of the team at OOOOO", stated Atul Bansal, Founder
and Co-owner at Sheila Bird.
Please see the images below of the proposed
floor plan and illustration of the Manchester studio
The studio is set over several floors and has
many spaces for themed live broadcasts
A glimpse at the studio design in Manchester, UK
About OOOOO Entertainment
Commerce
OOOOO Entertainment Commerce operates a
technology platform that enables retailers, brands and
entrepreneurs to share product-based opinions directly to consumers
through live, interactive, shoppable videos. The platform also
offers gamification and social features which reward the community
for helping to grow the user base, reducing the need for
traditional ad networks.
The Company was founded in 2020 by Sam Jones and
Eric Zhang and have offices and studios in the UK and China.
Interactive video commerce continues to
explode as a mega-trend in China, estimated to reach $305
billion this year according to Forbes. OOOOO are focused on
delivering a technology platform and app to enable brands,
retailers and entrepreneurs to embrace the fast-growing live stream
economy with its unique interactive video commerce application
available for iOS and Android. Having launched in November 2020,
the OOOOO platform has seen over +400,000 installs to
date and successfully onboarded leading brands across the
fashion, sport, beauty and wellness industries.
For further information please contact:
OOOOO Entertainment Commerce Limited
Tom Judge, Chief
Operating Officer |
Investor
Relations |
tom@ooooo.com |
416.842.9003 |
|
investors@ooooo.com |
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Forward Looking Information
Certain statements in this news release may
constitute “forward-looking statements”. Forward-looking statements
are statements that address or discuss activities, events or
developments that OOOOO expects or anticipates may occur in the
future. When used in this news release, words such as “estimates”,
“expects”, “plans”, “anticipates”, “projects”, “will”, “believes”,
“intends” “should”, “could”, “may” and other similar terminology
are intended to identify such forward-looking statements.
Forward-looking statements reflect the current expectations and
beliefs of OOOOO’s management. Because forward-looking statements
involve known and unknown risks, uncertainties and other factors,
actual results, performance or achievements of OOOOO or the
industry may be materially different from those implied by such
forward-looking statements. Examples of such forward-looking
information that may be contained in this news release include
statements regarding: growth and future prospects of our business;
our perceptions of the industry and markets in which we operate and
anticipated trends in such markets; expectations regarding the
operation of our app; and our future revenues. Material factors or
assumptions that were applied in drawing a conclusion or making an
estimate set out in the forward-looking statements may include, but
are not limited to, our ability to execute on our business plan,
increase visibility amongst consumers and convert users to revenue
producing subscribers and the success of the business of our
partners. Forward-looking statements involve significant
uncertainties, should not be read as a guarantee of future
performance or results, and will not necessarily be an accurate
indication of whether or not such results will be achieved. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements,
including, without limitation: those relating to potential
disruptions to product delivery; failure to meet regulatory
requirements; changes in the market; potential downturns in
economic conditions; availability of financing (as necessary);; and
other risk factors described in our Filing Statement which is
available on SEDAR at www.sedar.com. These risks, as well as
others, could cause actual results and events to vary
significantly. Accordingly, readers should exercise caution in
relying upon forward-looking statements and OOOOO undertakes no
obligation to publicly revise them to reflect subsequent events or
circumstances, except as required by law.
Source : OOOOO
OOOOO Entertainment Comm... (TSXV:OOOO)
Historical Stock Chart
From Jun 2024 to Jul 2024
OOOOO Entertainment Comm... (TSXV:OOOO)
Historical Stock Chart
From Jul 2023 to Jul 2024