Iconic Brands Sees Strong Revenue Growth of Approximately 252% for First Two Months of Q2 2020
- First two months of Q2 2020 revenues eclipse $500K on heels of solid demand for its premium alcohol beverages
- Q2 of 2020 revenue estimated to surpass first three quarters of 2019 revenue
Amityville, NY, June 08, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Iconic Brands, Inc. (ICNB) (“Iconic” or the “Company”), a lifestyle branding company with the highest expertise of developing, from inception to completion, alcohol beverage products for itself and third parties, announced today that the Company has experienced significant revenue growth of over $500K for the months of April and May, 2020. Revenue increased approximately 252% in the first two months of Q2 of 2020, compared to $145K in revenue for all of Q2 of 2019. In total, the Company estimates that Q2 2020 revenue will exceed the first three quarters of 2019 combined.
Iconic has seen strong demand from e-commerce and brick-and-mortar sales of all its products. Bellissima Prosecco and Sparkling Wines continue to move quickly off of shelves as consumer acceptance of these products builds, and Iconic has strong inventory reserves to keep the supply chain healthy.
“We are thrilled with our progress. The trends that we’re witnessing have been phenomenal and very indicative of where the distribution channels are for our products — and we are still in the second quarter,” said Richard DeCicco, Chief Executive Officer of Iconic. “Coming off a strong first quarter, we’ve been able to see success sequentially quarter over quarter. We have a few more weeks to expand our numbers, and that will include an appearance by our Brand Partner Christie Brinkley with our Bellissima Prosecco and Sparkling Wines products on QVC, which has historically led to strong sales numbers, and the slow opening of bars and restaurants will continue to bolster our e-commerce business.”
About Iconic Brands, Inc.
Iconic Brands, Inc., is a lifestyle branding company with the highest expertise of developing, from inception to completion, alcohol beverages for itself and third parties. Iconic markets and places products into national distribution through long-standing industry relationships. Iconic is a leader in “celebrity branding” of beverages, procuring superior and unique products from around the world and branding its products with internationally recognized celebrities. It currently offers Bellissima Prosecco and BiVi Vodka. In addition, Iconic developed the Hooters Spirits line of premium spirits in partnership with United Spirits, Inc., a leading private-label beverage company and affiliate of Iconic, for Hooters restaurants and off-premise retail locations both domestically and internationally.
Please visit the Company’s websites and follow it on social media.
Twitter: @IconicBrandsUS; @HootersSpirits; @BellissimaByCB @BiviVodka
Instagram: @IconicBrandsUSA; @HootersSpirits; @BellissimaProsecco; @Bivivodka
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act. These forward-looking statements are made on the basis of the current beliefs, expectations, and assumptions of management, are not guarantees of performance, and are subject to significant risks and uncertainty. These forward-looking statements should, therefore, be considered in light of various important factors, including those set forth in Iconic’s reports that it files from time to time with the Securities and Exchange Commission and which you should review, including those statements under “Item 1A – Risk Factors” in Iconic’s Annual Report on Form 10-K.
Released June 8, 2020