OOOOO and Boohoo Launch Collaboration in UK

VANCOUVER, British Columbia, Oct. 13, 2021 (GLOBE NEWSWIRE) -- OOOOO Entertainment Commerce Limited (“OOOOO”) (OOOO:TSXV), a mobile commerce platform, is pleased to announce that BOOHOO.COM UK LIMTED. (“Boohoo”) is the latest global retailer to join OOOOO’s platform.

Boohoo is a United Kingdom-based online fashion retailer, aimed at 16–30 year olds. The business was founded in 2006, and had sales in 2020 of £1,234.9 million. It specialises in own brand fashion clothing, with over 36,000 products. Growing rapidly, the company has acquired numerous brands.

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 +360,000 installs to date and successfully onboarded leading brands across the fashion, sport, beauty, and wellness industries. 

Sam Jones, Co-Founder and CEO of OOOOO says of the partnership: “We are thrilled to welcome Boohoo to the OOOOO platform. Fashion is a key pillar of our UK strategy and Boohoo are pioneers in this category, which will benefit our content and user base significantly.”

Award Grants

OOOOO also announced today that its board of directors has granted an aggregate of 2,276,090 restricted share units to certain of its directors and officers under its Long-Term Performance Incentive Plan dated July 19, 2021. Each restricted share unit shall vest into one OOOOO subordinate voting share on the first anniversary of the grant date.

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.

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OOOOO Entertainment Commerce Limited

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Forward Looking Information

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Source : OOOOO