OREM, Utah, Oct. 03, 2016 (GLOBE NEWSWIRE) -- NABUFIT Global, Inc. (OTCQB:NBFT), a groundbreaking new health, fitness, and training portal that enhances your workout by providing expert advice from professional trainers, health experts and international sports stars, today announced the establishment of its Chinese based operations out of Hong Kong, China. On July 17, 2016, NABUFIT initiated plans to establish its China based operations and has incorporated NABUFIT China Ltd. in Hong Kong from where the company will market the NABUFIT app into Mainland China.
NABUFIT has completed its market research in China and is currently in negotiations with local partners including media platforms to market the app to the Chinese population, brand ambassadors and famous Chinese sports stars. Additionally, the Company is targeting certain governmental funds to participate as investors into the Chinese subsidiary.
NABUFIT expects to begin marketing the app to the Chinese market in Q3 2016 and establish an office and a local marketing team in Q1 2017.
The growing Chinese population is increasingly participating in fitness activities which is mainly due to two reasons. First, the population is experiencing rapid growth in discretionary income with a corresponding increase in spending for fitness clubs. Second, the western culture is influencing the Chinese new generation, young people are doing physical exercise and fitness at home, outdoors and online.
In western countries, sports and fitness have been well developed. According to statistics, the United States has over 30,000 fitness clubs with 10,000 people on average having access to a fitness club. At present, there are only about 5,100 fitness clubs in China, with an average 268,000 people having access to a fitness club. The need for fitness in China is growing rapidly with more than four million people each year joining the fitness move, which has also resulted in a great need for fitness apps that give the user the option to exercise at times and locations that are more cost effective and conducive than the limited fitness clubs. The Chinese based fitness app “KEEP” went online in February 2015 and has received more than 30 million downloads to date which clearly highlights the growing demand and interest.
Last week the NABUFIT app along with its English version, became available in Danish and Portuguese with the following versions in Spanish, German and Chinese within the next two weeks. Since the launch of the NABUFIT app in the Apple app store and on Google play on July 19th, the NABUFIT app has been downloaded more than 125,000 times in more than 180 countries.
Brian Palm Svaneeng Mertz, NABUFIT CEO said: "We clearly recognize the enormous growth opportunity in the Chinese market and are pleased to be establishing our operations in Hong Kong. There is increasing interest within the Chinese fitness space and the market is experiencing high growth rates. Furthermore, the growing Chinese interest in sports and famous sports stars has fueled many Chinese investments in western sports sectors. The combination of a fitness app that leverages famous sport stars suits the Chinese market well and positions NABUFIT perfectly.”
About NABUFIT Global Inc.
NABUFIT Global, Inc. (www.nabufit.com) is a US public company. NABUFIT is an online fitness platform for health and well-being through physical exercises, nutrition and lifestyle. The platform offers interactive, customized exercises and diets founded on the workouts and participation of Sports Stars such as Neymar Jr., Peter Schmeichel, Michael Maze and many more to come. The development headquartered in Denmark is developing an online fitness platform and a mobile application that connects to existing and future monitoring devices (wearables etc.).
Forward-Looking Statements
Statements about the expected timing, and all other statements in this press release, other than historical facts, constitute forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date hereof and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those projected. A number of the matters discussed herein that are not historical or current facts deal with potential future circumstances and developments that may or may not materialize. This press release speaks only as of its date, and except as required by law, we disclaim any duty to update.
Contact: NABUFIT Global, Inc. Brian Mertz CEO +45 23903300 bm@nabufit.com Bob Bench CFO +1 801-362-2115 bobbench@nabufit.com
