COVID-19 (Coronavirus) RESPONSE
PALM BEACH, FLORIDA -- In response to continuing developments related to the Coronavirus outbreak in China and now worldwide, Robert Redd Inc. is following the guidance of the President of the United States, Donald J. Trump and the Task Force being overseen by the Vice President Mike Pence, local authorities and global health organizations (who have our best interest in mind) as we prioritizes the health and safety of our employees, consumers and partners. As part of this, approximately 95% of Company’s partners in production, marketing and distribution are temporarily closed. The Company also expects broader impact across its businesses globally due to significantly reduced travel and retail traffic.
The Company’s 2020 1st and 2nd quarter financial position is now projected to be negatively impacted by lower than expected sales and thus, operating income. These effects could materially change if there is meaningful deterioration from current trends. Supply chain disruptions in Peru could also impact a small portion of the Company’s third and fourth quarter orders globally.
“Our hearts are with the many impacted by this virus. Our number one priority is keeping our teams, partners and consumers safe,” said Robert Redd Matheson, Founder, Chairman and Chief Creative Officer of Robert Redd, Inc.
“Our dedicated teams are operating with agility in a highly dynamic situation, and we will continue to assess the implications for our business across our digital channels and our supply base,” said Mr. Matheson. “While the health crisis creates near-term uncertainties, the fundamentals of our business are strong, and we continue to see significant long-term opportunities for growth.”
ABOUT ROBERT REDD, INC.
Robert Redd, Inc. is a global leader in the creative story-selling concept behind the Media Product Brand™ (a term that Mr. Matheson, Founder of Robert Redd coined), design, marketing and distribution of premium lifestyle products. For nearly 20 years, Robert Redd’s reputation and distinctive image have been consistently developed across an expanding number of products, offerings and markets. The Company's brand names, which include Robert Redd, Lady Redd, REDD, Legend of Robert Redd, Double R, Running Redd, Redd Tomato, Baby Redd, Lil’ Redd, Master Redd, among others, constitute one of the world's most uniquely positioned families of consumer brands. For more information, go to https://www.robertredd.com.