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Icon Media Holdings, Inc. Continues Its Expansion, Now Into Asian Markets Through Product Launch on Amazon Japan(November 17, 2011)
RALEIGH, NC -- (Marketwire) -- 11/17/11 -- Icon Media Holdings, Inc. (PINKSHEETS: ICNM) is pleased to announce today that the Company continues its expansion, but now into Asia via a newly launched storefront on Amazon Japan. The following is a link to the Punt Dog Posters Storefront on Amazon Japan: http://tinyurl.com/7uvwr2v.
Goldman Sachs estimates the size of the Japanese consumer e-commerce market to be over $56 billion (US), which is approximately 3.3% of their entire domestic retail market. Furthermore, in the core Internet user demographic (i.e., 30-to-40 age group), e-commerce makes up a significant proportion of individual retail activity with around 60% market share.
"Japan has shown an affinity for American pop culture and we are very encouraged by the initial results," said Rob Deakin, CEO of Icon. "We consider Japan to be the cornerstone of our expansion into Asia. We chose to use the Amazon Japan platform for entrance to this key marketplace as it allows us to showcase our products to the market in the native Japanese language, without incurring the significant costs of developing our own ecommerce website in Japanese." The Company anticipates that the addition of this new selling platform and marketplace could provide at least an additional 10% in gross revenue.
About Icon Media Holdings, Inc. (ICNM):
Icon Media Holdings, Inc. is a diversified global e-commerce company. The Company currently owns and/or operates e-commerce websites and sells on storefronts such as Amazon, Amazon UK and eBay, among others. The Company also supports e-commerce companies through its financial services division IFX Financial Group. Website: www.iconmediaholdings.com.
Forward-Looking Statements & Disclaimers:
The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws, as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this document, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.
Phone: 919.237.5700 ext. 203
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