AlgoGroup and owner of Hong Kong's largest Pet Supermarket Q-Pets, enter into Preferred Supplier Agreement for Collaboration in close to 50 and growing retail stores in Hong Kong

HONG KONG,March 15,2022 -- AlgoGroup,a tech-enabled consumer products company,today announced a strategic partnership with ADP Pentagon Pets Limited (ADP),owner of HK's largest pet supermarket,"Q-Pets",as Preferred Partners. Under the partnership,AlgoGroup's brands under incubation will have preferred listing on all of ADP's retail channels,numbering around 50 retail stores. ADP will have immediate access to AlgoGroup's large and growing portfolio of independent premium pet brand concepts,an expanding sector propelled by the shift towards pet humanization.

AlgoGroup leverages its expertise in operating E-commerce platforms to run a suite of incubation programs for independent brands,aimed at democratizingE-commerce infrastructure and facilitating new brands' go-to-market efforts.

To-date,over 10 brands participate in AlgoGroup's incubation programs,of which 5 have received direct investments from or bespoke brand partnerships with AlgoGroup. These brands are fueled by AlgoGroup's 120 and growing points of sales globally in over 5 markets,including leading retail chains in Hong Kong such as APITA,Citistore,Citysuper,GuuSan,HKTVMall,ParkNShop,UNY and YATA. The partnership with ADP will add "QPets" and "Red Carrot",another pet retailer owned by ADP,into AlgoGroup's curated retailer list,facilitating its brands' speed of penetrating the ultra premium Hong Kong market. It paves the way for further partnership in Mainland China,where both companies are already active.

"We are delighted to further extend our distribution footprint in Hong Kong,one of the highest per capita spending areas in the Asia-Pacific,through this strategic partnership with ADP. Our research consistently tells us that premium independent brands are a core driver of growth in the pet sector,and getting faster access to Q-Pets and Red Carrot will not only grow sales of our existing brands but attract more brands to join our incubation programs," said Chris Fung,Founder & CEO of AlgoGroup.

"As one of the largest retail chains for pet products in the region,we put a lot of effort into handpicking the best products to add to our shelves but procurement can be a challenging,risky and time-consuming process. Partnering with AlgoGroup allows us to tap into its suite of emerging data-filtered and proven brand concepts,saving us a tremendous amount of time and minimizing risks as we add variety and quality products to our vast retail network. This has transformed the way we expand the range of products we distribute and will be critical for our expansion into the China market together with AlgoGroup in the coming future," said Alex Yip,Founder & Managing Director of ADP Pentagon Pets Limited.

About AlgoGroup

AlgoGroup is a tech-enabled consumer product company and the pioneer of FMCG 3.0,a data-driven,collaborative approach to consumer brand creation. Algo's mission is to innovate using technology in all aspects of a consumer brand life-cycle,from ideation,branding to distribution. The company currently houses ten brands with distribution channels across Asia Pacific and four wholly owned or operated E-commerce platforms.

Website: https://www.algogroup.io

About ADP Pentagon Pets Limited

Established in 1996,ADP Pentagon Pets Limited is one of Hong Kong's largest and longest-standing pet products retail distributor with around 50 retail stores trading under the name of Q-Pets and Red Carrot. ADP also represents premium brands in distribution in Mainland China,headquartered in Shenzhen,with a warehouse and sales office in Shanghai.