Las Vegas, NV—November 21, 2019 — -– The 4Less Group, Inc. (OTC: FLES) is pleased to announce that it has acquired the URL AutoParts4Less.com. The 4Less Group’s wholly owned subsidiary, The 4Less Corp., (4Less) will also be changing its name to Auto Parts 4Less, Inc.
Over the past 4 years, 4Less has developed a unique ecommerce platform to serve the aftermarket parts space primarily for trucks, jeeps and SUV’s. With its proven sales platform liftkits4less.com, Bumpers4less.com and TruckBedcovers4Less.com, 4Less is now looking to expand its presence across the entire auto parts spectrum.
“With the acquisition of the URL AutoParts4Less.com we are now poised to participate in a much larger market space” stated Tim Armes, President of the 4Less Group, Inc., “From the expertise gained from our current e-commerce platforms we believe we have the ability to successfully expand across the entire Automotive E-Tailing space which is estimated to have a compound growth rate of 12% a year and reach US$55 billion by 2022 as per Market Research Futures.”
“The URL AutoParts4Less.com will allow us to develop a single trusted brand across the entire spectrum of auto parts from OEM, after-market specialty parts, and accessories all the way down to tires.” explained Chris Davenport, founder of LiftKits4less and president of Auto Parts 4Less, Inc. “We now have the opportunity to go from offering a few hundred thousand parts to literally millions of parts.”
4Less has already launched a temporary site with approximately 20 major part categories, 80 sub-categories and 200 brands with plans to develop and launch a completely new AutoParts4Less.com web site in 2020. It is expected that minimal added fixed costs will be necessary to roll-out and maintain the new site. Technology costs however should increase starting in the first quarter of 2020 as we begin adding more products to our offering.
“Additionally, we plan to maintain our custom platforms, Liftkits4Less.com and Bumpers4less, which allows us to retain more control over our customers user experience which allows them to benefit from our personalized service while providing the company with higher margins.” Added Chris.
About The 4Less Group, Inc.
With the acquisition of the URL AutoParts4Less.com, FLES is focusing all of their efforts and resources on building out a flagship automotive E-tailing site with the potential to list and sell literally millions of parts that will include automotive specialty equipment parts and accessories, targeted “niche” web sites and potentially a used auto parts exchange one day as well.
CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements, including information about management’s view of the Company’s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Factors that could cause results to differ include but are not limited to, successful performance of internal plans, product or services development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct (i) its own forward-looking statements, except as required by law, or (ii) those prepared by third parties that are not paid for by the Company.
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