Santa Monica, CA, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Oliveda International, Inc. (OTC Pink: OLVI), a leading international natural cosmetics and wearable beauty and health technology innovator, is reporting that despite one of the most challenging business environments in decades, with store closures, lockdowns, and limitations on in-person shopping, the company expects its 2020 year-end financial report to reflect a 40% increase in sales over the previous year (2019).
In a year when industry analysts projected 20-40% decreases in sales for the beauty industry, Oliveda was able to increase sales by such a significant percentage through a strong performance in online orders.
The increase in sales is expected to be reflected in the company’s upcoming 2020 year-end financial report, which is due to be posted on the OTC Markets website on or about March 31, 2021. For the first time in its history, the company will have completed audited financials for its wholly owned Oliveda Group subsidiary from 2018 through 2020. The company has also completed audited financials for Oliveda International for the 2018 and 2019 year-end periods.
About Oliveda International, Inc.
Founded in 2003 by German real estate investor Thomas Lommel, Oliveda International, Inc. is a leading international natural cosmetic company in the premium segment. The company has also developed a globally unique wearable beauty and health technology. In addition to online sales and a global branch network of 650 retail stores, the company’s wholly owned Oliveda Deutschland GmbH second-tier subsidiary operates flagship stores, Olive Tree Pharmacy, in Berlin and Dusseldorf with plans to open new locations in Los Angeles, Taipei and Seoul. Overall, the company believes that it will be able to operate a total of 60 of its own flagship stores worldwide and increase the retail store network worldwide to 1,200 over the next five years. Through subsidiary operations, Oliveda International is the largest investor in eco-certified mountain olive trees as well as the largest conservationist in Arroyomolinos de Leó, Spain. Further information on Oliveda International can be found at http://www.oliveda.com, https://us.oliveda.com and http://www.olivetreepeople.com.
Forward-Looking Statements
This press release may contain statements, estimates or projections that constitute "forward-looking statements" pursuant to the safe harbor provisions of the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties, which may be found in the Company’s filings with OTC Markets Group Inc., that could cause actual results to differ materially from the Company's historical experience and present expectations or projections. Investors should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company expressly disclaims any obligation or intention to publicly update or revise any forward-looking statements unless otherwise required by law.