Xspand Products Lab Provides Operational Update on Asia-Pacific Theme Park Initiatives
08 Août 2018 - 2:31PM
Asia-Pacific Region Represents Xspand’s Fastest
Growing Market for Theme Park Vertical
Xspand Products Lab, Inc. (“Xspand”) (the “Company”), a
full-service product development company, has provided an
operational update on its sales initiatives in the Asia-Pacific
theme park industry.
In the six months ended June 30, 2018, the Asia-Pacific region
represented the fastest growing market for Xspand’s theme park
vertical, which grew approximately 20% to $1.2 million when
compared to $1.0 million in the same year-ago period. Notable
Xspand theme park customers include Hong Kong Disneyland Resort,
Tokyo Disney Resort, Universal Studios Singapore and Universal
Studios Japan. Xspand services its Asia-Pacific theme park clients
through its wholly owned subsidiary in Hong Kong.
According to EuroMonitor, the Chinese theme park industry is
forecast to grow from $4.6 billion in 2015 to $12 billion by 2020,
overtaking the U.S. and Japan as the world’s largest market. A 2018
report by the Themed Entertainment Associated found that attendance
at Chinese theme parks increased nearly 20% YoY, with 134 million
total theme park visits across the greater Asia-Pacific region in
2017.
“Our Asia-Pacific theme park vertical growth has continued
unabated, growing approximately 20% in the first 6 months of
2018, compared to the same period in 2017,” said Chris
Ferguson, Chief Executive Officer of Xspand Products Lab. “We have
seen rapidly growing demand within the theme park market for custom
manufacturing of innovative, licensed products, featuring leading
brands such as Marvel, Monsters Inc. and Star Wars. We continue to
work closely with our Asia-Pacific theme park customers to develop
innovative new products to support their aggressive future
expansion plans.
“Our ability to service our Asia-Pacific theme park clients
through our wholly owned Hong Kong subsidiary enables us to
continue serving Asia-Pacific customers in spite of the current
trade uncertainty between the United States and China, providing us
with a distinct competitive advantage.” About Xspand
Products Lab, Inc.Xspand Products Lab, Inc. is a
vertically integrated and full-service product development and
manufacturing company, including design, sales, fulfillment and
shipping. Xspand's model is to provide a risk mitigated platform
that connects innovators with companies to bring new products to
market. For more information, please visit
www.xspandproductslab.com. Safe Harbor This press
release contains forward-looking statements that involve
substantial risks and uncertainties. All statements, other
than statements of historical facts, included in this press release
regarding strategy, future operations and plans, including
assumptions underlying such statements, are forward-looking
statements, and should not be relied upon as representing Xspand’s
views as of any subsequent date. Such forward-looking
statements are based on information available to Xspand as of the
date of this release and involve a number of risks and
uncertainties, some beyond Xspand’s control, that could cause
actual results to differ materially from those anticipated by these
forward-looking statements, including consumer, regulatory and
other factors affecting demand for Xspand’s products, any
difficulty in marketing Xspand’s products in global markets,
competition in the market for consumer products, any inability to
raise capital to fund operations and service Xspand’s debt.
Additional information that could lead to material changes in
Xspand’s performance is contained in its filings with the
SEC. Xspand is under no obligation to, and expressly
disclaims any responsibility to, update or alter forward-looking
statements contained in this release, whether as a result of new
information, future events or otherwise.
Investor Relations Contact:Greg Falesnik
Managing Director MZ North America Direct: 949-385-6449
XSPL@mzgroup.us
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