MIAMI, October 6, 2020 – Cool Holdings, Inc. (OTCQB: AWSM) (the “Company” or “Cool Holdings”) announced the grand opening of its new Simply Mac retail store in Hillsboro, Oregon. This 2,383 square foot official Apple Premier Partner Store is located in the “Streets of Tanasbourne” Shopping Center at 2165 NE Allie Avenue, Space 550, Hillsboro, OR, and will offer the entire suite of Apple products, as well as third party accessories and Simply Mac’s signature service and warranty repairs on all product categories by our trained team of Apple-certified technicians. Simply Mac also offers customer financing and extended warranty coverage on all Apple products.
Commenting on the new Simply Mac store opening, Reinier Voigt, Chief Executive Officer of Cool Holdings, stated: “Our new Hillsboro store replaces our Beaverton store just 5 miles away where our lease expired. Hillsboro represents our fifth store in Oregon, joining our other stores in Portland, Eugene, Bend and Corvallis. While Portland and Eugene are the first and third largest cities in Oregon, respectively, Hillsboro is the fifth largest city. Lying on the west side of the Portland metro area, Hillsboro is the host city for many high-tech companies, including four campuses housing more than 21,000 employees who represent the heart of Intel’s research and development teams, as well as offices of Salesforce, Oracle and Synopsis. In fact, Hillsboro is part of what has become known as the “Silicon Forest,” the nickname for the cluster of high-tech companies located in the corridor between Hillsboro and Beaverton. On the educational front, Hillsboro is also home to satellite campuses of Pacific University and the Oregon Health and Science University. Our team of sales professionals and Apple-certified technicians will be able to serve students at these universities, as well as residents in the four-county Asheville metropolitan area.”
Commenting further, Mr. Voigt stated: “We continue to execute our strategic plan to expand the Simply Mac footprint in North America, taking care to adhere to our established site selection model that includes criteria for local population, median household income, preferable presence of a major university, distance from the nearest Apple store and minimum projected annual operating income. In addition, all new locations must be approved in advance by Apple. We remain committed to our mission to provide our customers with transformational experiences that drive long-term customer loyalty, and to improving our profitability to increase shareholder value.”
About Cool Holdings, Inc.
Cool Holdings is a Miami-based company that is the parent of Simply Mac, a chain of 41 retail stores operating in 17 states and an authorized reseller under the Apple Premier Partner program of Apple products and other high-profile consumer electronic brands. Additional information can be found on its website at www.coolholdings.com and www.simplymac.com.
Forward-looking and cautionary statements
Forward-looking statements in this press release and all other statements that are not historical facts are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements, including those related to store expansion plans, the offering of the entire suite of Apple products, third party accessories and service and warranty repairs on all product categories in the Hillsboro Simply Mac store, our ability to open new store locations consistent with our site selection model, our ability to attract and retain new customers, our ability to meet projected operating income, our expectations for future lease rates, our ability to capitalize on operational efficiencies, our supply chain and our customer traffic, involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements, including actions by third parties, including Apple. A list and description of various risk factors related to Cool Holdings, Inc. can be found and reviewed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, which can be accessed under the Company’s profile at www.sec.gov. These forward-looking statements speak only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release, except as required by law.
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Vernon A. LoForti, CFO