Dogness Announces Strategic Partnership with Huayuan Pet and Chongai Trading
The Company Anticipates approximately $6 million sales opportunity during the first year of the partnership
DONGGUAN, China, Oct. 24, 2020 (GLOBE NEWSWIRE) -- Dogness (International) Corporation (“Dogness” or the “Company”) (NASDAQ: DOGZ), a developer and manufacturer of smart and traditional pet
products in China, today announced its affiliate Dogness Network Technology Co., Ltd. (“Dogness Network”) recently entered into a strategic partnership with Hangzhou Huayuan Pet Products Co., Ltd.
(“Huayuan Pet”) and Shanghai Chongai Trading Co., Ltd. (“Chongai Trading”).
By signing the strategic cooperation agreement, Dogness Network, Huayuan Pet and Chongai Trading will partner to combine brand distribution channel, human capital and supply chain resources. The companies will work together to further broaden their reach within China’s rapidly expanding pet market, jointly enhance core competitiveness and maximize operating efficiencies to maintain a dominant market position , while integrating and promoting new developments within the pet industry.
Dogness (www.dogness.com) smart pet products and traditional products are currently available in over 60 countries around the world. As a leading international brand of smart pet technology products, Dogness is moving quickly to develop a pet IoT platform and work together with partners to elevate its pet products and operations.
Huayuan Pet (www.hoopet.com) is a well-known domestic company that integrates production and sales of pet products on an online sales platform in China. Huayuan Pet has 20 brands, including HOOPET and Kuqisi, and offers pet toiletries, high-end bedding, clothing, toys, staple foods and snacks. In 2019, Huayuan Pet's overall sales totalled RMB 1.1 billion (approximately USD 162 million).
With over ten years of experience in the pet industry, Chongai Trading is a highly influential pet food and supply distributor (www.pet18.com) in the China market, with extensive experience in brand promotion and channel marketing.
Mr. Silong Chen, CEO of Dogness, commented, “China’s pet industry is rapidly expanding, and companies are seeking new ways to optimize efficiency and performance. We believe this partnership can contribute approximately $6 million in new domestic sales to Dogness during the first year and expand further in the ensuing years. Dogness is well-positioned and continues to develop intelligent technologies to create in-demand consumer products and services for pet lovers around the world. We believe this strategic partnership is an important development in the overall growth of our business.”