Jeff Brands to Enter U.S. Logistics Warehouse Market to Support E-Commerce Growth of Amazon FBM Sellers
Jeff Brands will develop dedicated software for inventory management and logistics warehouses to support e-Trade companies
OMER, Israel, September 28, 2021 (GLOBE NEWSWIRE) – Medigus Ltd. (Nasdaq: MDGS), a technology company specializing in advanced medical solutions, innovative internet technologies, and electric vehicle and charging solutions, today announced that Jeff Brands Ltd. (50.03%), a fast growing consumer product (CPG) The company, operating primarily on Amazon.com, will expand into e-commerce logistics warehouses. Jeff Brands has signed a non-binding collaboration agreement with iFulfillYou LLC, a US-based warehouse logistics services company, under which the parties intend to work together to establish logistics warehouses in the United States. United through a newly created company.
Inventory and logistics centers are becoming an increasingly important necessity as the use of Fulfillment By Merchant (FBM) grows in Amazon, as well as other leading ecommerce platforms including eBay, Etsy and others. Jeff Brands is keen to expand his business by using his extensive logistics knowledge to support sellers, online stores and brands.
As part of the collaboration, iFulfillYou will be responsible for setting up, advising and managing logistics warehouses. Jeff Brands and iFulfillYou will also develop and design proprietary AI-based software for warehouse logistics management, real-time inventory tracking, and automated shipping certifications.
Jeff Brands will own up to 79% of the new company (on a fully diluted basis) and will be responsible for financing it with up to US $ 3.5 million through loans in accordance with milestones to be agreed in the agreement restrictive.
The new logistics warehouses in the United States are designed to facilitate Jeff Brands’ expansion in North America and will also provide services to all of its brands.
Based in Israel, Medigus Ltd. (Nasdaq: MDGS) is a technology company focused on innovative growth partnerships, primarily in the advanced medical solutions, digital commerce, and electric vehicle markets. Medigus medical solutions affiliations are owned by ScoutCam Inc. (OTCQB: SCTC) and Polyzion Ltd. The company’s affiliates in digital commerce include Gix Internet Ltd. (TASE: GIX), Jeff’s Brands and Eventer Technologies Ltd. electric vehicle market, Charging Robotics Ltd. and Revoltz Ltd. are also part of the Company’s portfolio of technology solutions providers. Medigus is listed on the Nasdaq Capital Market. To learn more about Medigus advanced technologies, please visit http://www.medigus.com/investor-relations.
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