On 13 March 2019, engage:BDR Limited (ASX: EN1), a digital media and advertising company from the media and entertainment industry group, announced that there are another four brands which have joined the IconicReach platform. In the Q1 of 2019, a total of six brands have boarded the IconicReach platform, ahead of schedule.
The new four brands (WeDu Communications, Gio Clavis, Putti Atti and Happyroom Co.) which joined the IconicReach platform are Korean brands that are established within the Korean marketplace.
On 11 February 2019, the company announced its strategic plan for 2019 and its milestones for the year. The primary objective of the company during 2019 is returning to profitability by increasing integrations, scaling of the existing partnerships followed by reducing operating expenses and make use of its key products. The company also announced that IconicReach would be signing three to four direct brands every quarter, which has been well achieved for the Q1 till now.
The addition of these four Korean brands will enable the company to step ahead towards the APAC expansion strategy. With this achievement of six new brands, the management of the company is excited that the team of IconicReach has achieved a significant milestone of signing six brands in the first quarter which is ahead of plan. This is also a source of diversified revenue.
South Korea remains popular in terms of trends in beauty, pop culture and consumer products. The acquisition of the new client will bridge the gap between EN1 and the Korea marketplace. The collaboration will broaden the scope of IconicReach, thus helping in increasing the company’s revenue.
On 11 March 2019, the company, in its market update, announced a new IconicReach client and number 1 Korean cycling apparel brand, Never Stop Riding (NSR). The company highlighted that IconicReach is soon to launch the US market for the Never Stop Riding brand, which has significant reach throughout the Korean, Asian as well as European market place. The brand has entered into IconicReach platform for expanding marketing opportunities in the form of integrated content as well as regional influencer events.
On 6 March 2019, the company shared the market update on ASHLETlauren which is also one of the new clients of IconicReach. In the campaign, the main target was to increase the online as well as the in-store traffic through the reach of key micro-influencer.
On 4 March 2019, the company announced the technical integration Between AdCel and engage:BDR before the scheduled time.
On 11 February 2019, the company announced its strategic plan for 2019 to achieve profitability.
On 4 February 2019, EN1 announced that it had exceeded 175 integrations with three new partnerships.
On 21 January 2019, the Programmatic Platform of BDR went live.
Benefits of Customer Acquisition:
In the last six months, the stock has generated a negative return of 69.35%. However, the stock has given a positive YTD return of 26.67%. At present, the shares of EN1 are trading at A$0.017 (AEST: 1:35 pm, 14 March 2019), down by 10.53%. The company has a market capitalization of A$7.17 million with approximately 377.46 million outstanding shares.
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