MGO Global CEO Issues Letter to Shareholders Following Successful IPO

MIAMI, FL and BUENOS ARIES, ARGENTINA and LONDON, UK and NEW YORK, NY / ACCESSWIRE / February 2, 2023 / Maximiliano Ojeda, Chairman and CEO of MGO Global Inc. (NASDAQ:MGOL), operator of The Messi Store, ("MGO" or the "Company") today issued the following letter to the Company's stockholders:

"Dear MGO Shareholders:

"Successfully completing our Initial Public Offering and having our common stock now trading on The Nasdaq Capital Market is a direct reflection of effort of our collective team of professionals who never wavered in their confidence in MGO and worked in close collaboration to get the job done. This team included every member of MGO's staff, executive leadership and new Board of Directors, as well as our many trusted investment banking, legal and accounting partners, all of whom remained in firm lock-step as we progressed through the complex IPO process. There are simply no words adequate to express the depth of my gratitude to these people for their efforts on MGO's behalf. Moreover, I am humbled and incredibly thankful to the individual and institutional investors who have chosen to join us as fellow shareholders as we move forward in our journey as a publicly traded company.

"MGO co-founder and Chief Design Officer Ginny Hilfiger and I began this journey nearly five years ago with a mission to build a world class lifestyle brand portfolio company that empowers people to express their personal style and authenticity through high quality, thoughtfully designed and crafted apparel, accessories and homewares. Anchored by our flagship brand inspired by professional soccer phenom Leo Messi, MGO intends to use the capital raised in our IPO to help us achieve several key objectives in 2023, including:

• driving and amplifying the growth and expansion of The Messi Brand and The Messi Store,
• capitalizing on the experience and industry influence of our accomplished leadership team to identify and pursue strategic opportunities capable of accelerating our growth, and
• efficiently replicating and scaling our proven, end-to-end, global brand-building platform.

"Since the beginning of 2020, The Messi Store has welcomed more than 6.6 million visitors worldwide and processed orders for customers in 124 countries and territories, according to data supplied by our ecommerce platform provider, Shopify. Moreover, Leo's amazing performance on the pitch at the 2022 World Cup has led to the number of social media followers skyrocketing for Leo and for The Messi Store in recent months, resulting in combined social media reach that now exceeds 549 million fans globally. More specifically, Leo's social media following now stands at 425 million on Instagram, 113 million on Facebook, 1.4 million on YouTube and 8.04 million on Weibo; and The Messi Store has reached 1.7 million followers on Instagram and nearly 276,000 on Facebook. In the coming year, we look forward to tapping this enormous audience through creative programmatic advertising and social networking strategies designed to promote The Messi Brand and significantly boost consumer traffic and sales of our high quality line of Messi fashions.

"In addition to taking tremendous pride in our teaming with Leo Messi to drive The Messi Brand and The Messi Store to a path to success, Ginny and I are also incredibly proud of the management team we've assembled to lead our Company into the future. Comprised of world class business executives with decades of experience helping to build many of the world's most iconic lifestyle brands, including Tommy Hilfiger, FILA, Guess Jeans, Burberry, Hugo Boss and Salvadore Ferragamo, among several others, the MGO team boasts complementary skillsets and expertise in fashion design, supply chain management, ecommerce, retail, finance, capital markets, brand marketing, social marketing and data science, among other critical areas of focus. Together, I believe we are a true force - and we each share the same core values and principled outlook on creating enduring value for our shareholders. We are also ‘out-of-the-box' thinkers who intend to artfully push the boundaries on traditional brand-building strategies with a goal of setting entirely new standards for marketing prolific celebrity brands and products to fans and followers worldwide.

"Moreover, the same care and diligence we used to recruit the ‘right' management team was also applied to building an awesome Board of Directors with the diverse knowledge, skills and experience vital for properly guiding and governing an entrepreneurial, global growth-minded enterprise in today's volatile public company environment. We could not be more excited about the caliber of our new directors and the fact that they should prove to be force multipliers in the ongoing development of MGO. I encourage you to learn more about MGO's impressive team by viewing the bios published on our website at www.mgoglobalinc.com.

"We have been very fortunate to recruit creative, committed and hard-working stars to our team. We hope to recruit many more in the future, and you can count on us rewarding and treating them well. Working together to execute MGO's short- and long-term growth strategies, we will measure our collective performance in terms of metrics most indicative of success in our industry: customer and revenue growth, the degree to which our customers continue to purchase from us on a repeat basis, and the strength of The Messi Brand and any other brands that we may add to our portfolio in the future.

"In closing, we have worked and intend to continue work tirelessly to achieve our goals and objectives, and we will never be daunted by the hard work required to get us there. It is important to us that you also know that we greatly prize your trust and recognize that your support is our greatest asset. Thank you again for joining us on this journey."

About MGO Global Inc.

Founded in October 2018 and headquartered in Florida with remote employees and specialty contractors in London, New York and Latin America, MGO Global is a performance-driven lifestyle brand portfolio company focused on strategically leveraging the fame, celebrity power and global social media influence of world class athletes, entertainers and other cultural icons to create fresh, modern and compelling product and apparel brands aligned with and inspired by the values, personal styles and aspirations of our valued brand partners. Anchored by MGO Global's end-to-end, scalable brand development platform, coupled with its leadership's track records of success and industry relationships and expertise, in late 2018, the Company launched The Messi Brand - a premium line of functional and sporty casual wear, accessories and homewares inspired by legendary pro soccer player Leo Messi and found at www.TheMessiStore.com. For more information on MGO Global, please visit www.mgoglobalinc.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company's ability to grow its business and The Messi Brand and other statements that are not historical facts, including statements which may be accompanied by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company's ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company's products and the Company's customers' economic condition, the impact of competitive products and pricing, successfully managing and perpetuating the Company's licensing rights with Leo Messi Management, general economic conditions and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.

CONTACT INFORMATION:

FOR MEDIA AND INVESTOR RELATIONS

MGO Global Inc.
Dodi Handy, Director of Communications
Phone: +1 407-960-4636
Email: dhandy@mgoteam.com

SOURCE: MGO Global