Farmmi Announces The Launching of Its New Warehousing And Distribution Center Services in North America

Farmmi Inc (NASDAQ: FAMI), a Chinese agriculture products supplier, has announced the successful opening of its new warehouse and distribution center in Los Angeles, California on August 12, 2024.

Rhea-AI Summary

Farmmi Inc (NASDAQ: FAMI), a Chinese agriculture products supplier, has announced the successful opening of its new warehouse and distribution center in Los Angeles, California on August 12, 2024. The center received warehousing orders for 28 shipping containers on its first day of operations, exceeding management's expectations. This launch marks a significant step in Farmmi's international expansion strategy and organic growth efforts.

The company acquired the right to use a large storage facility in Los Angeles in July 2024 and spent nearly a month preparing for the trial operations. With over 20 years of experience in the Chinese agricultural products industry, Farmmi aims to leverage its stable international customer base and operational expertise to accelerate its development in North America.

Positive

• Successful opening of new warehouse and distribution center in Los Angeles
• Strong initial demand with 28 shipping container orders on the first day
• Expansion into North American market, potentially increasing revenue streams
• Leveraging 20+ years of industry experience for international growth

Negative

• None.

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LISHUI, China, Aug. 15, 2024 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced a successful opening of the Company's warehouse and distribution center in Los Angeles, California. On the first day of its operations on August 12, 2024, the distribution center received warehousing orders for 28 shipping containers. With the grand opening of the warehousing and logistics center, the Company has started a new chapter of its business and development.

In July 2024, The company established its first warehouse and logistics center following the acquisition of the right to use a large storage facility located in Los Angeles, California. After nearly a month of preparation, the logistics center began trial operations on August 12, 2024 and had a successful opening day with the number of customer orders far exceeding management's expectations. In the coming days, the company's American team will accelerate its efforts and strive for greater operating results. To that end, the company's business in North America has entered a rapid development stage.

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, Farmmi, a major agricultural products supplier in China, having operated in the Chinese agricultural products industry for more than 20 years, has formed a stable international customer base, and accumulated rich experience in the operation and management of agricultural products supplies and sales. In order to further expand international cooperation and create long-term value for its shareholders, the company is committed to and has implemented strategies for international business expansion in the recent years. The successful launch of its warehouse and logistics services center in the U.S. marks a significant development for the company in achieving organic growth and international expansion.

About Farmmi, Inc.

Established in 1998, Farmmi Inc. (Nasdaq: FAMI) is an agricultural products supplier, processor and retailer of edible mushrooms like Shiitake and Mu Er, as well as other agricultural products. Farmmi sells its products both online and offline. For further information about the Company, please visit Farmmi's website.

Forward-Looking Statements

No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations and intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding lingering effects of the Covid-19 pandemic on our customers' businesses and our end purchasers' disposable income, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China, our ability to attract and retain skilled professionals, client concentration, industry segment concentration, and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Farmmi may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law. 

For more information, please contact Investor Relations:

Farmmi, Inc.
Investor Relations
Tel: +86-0578-82612876
ir@farmmi.com 

View original content:https://www.prnewswire.com/news-releases/farmmi-announces-the-launching-of-its-new-warehousing-and-distribution-center-services-in-north-america-302223058.html

SOURCE Farmmi, Inc.

FAQ

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When did Farmmi open its new warehouse and distribution center in Los Angeles?

Farmmi opened its new warehouse and distribution center in Los Angeles on August 12, 2024.

How many shipping container orders did Farmmi receive on the first day of operations for its new US distribution center?

Farmmi received warehousing orders for 28 shipping containers on the first day of operations at its new US distribution center.

What is the significance of Farmmi's new warehouse and distribution center in the US?

The new center marks a significant step in Farmmi's international expansion strategy and organic growth efforts, allowing the company to expand its presence in the North American market.

How long has Farmmi (FAMI) been operating in the agricultural products industry?

Farmmi has been operating in the Chinese agricultural products industry for more than 20 years.