ATLANTA, GA / ACCESSWIRE / April 26, 2022 / Luvu Brands, Inc. (OTCQB:LUVU), a designer, manufacturer, and marketer of a portfolio of consumer lifestyle brands, announced today the appointment of Alexander Sannikov as Chief Financial Officer, effective April 29, 2022. To help ensure a smooth transition, Mr. Sannikov who started with the Company on April 11, 2022 has worked closely with the company's current CFO Ronald Scott, who will remain in an advisory capacity until April 29, 2022.
Mr. Sannikov, age 40, comes to Luvu Brands with significant financial executive experience in manufacturing, and mergers and acquisitions. Most recently he was the Finance Director at Weather Group, Atlanta, Georgia, a position he held since May 2021. Mr. Sannikovhas over 20 years of experience in finance leadership, including his work as Director of Finance at AMES Taping Tools, Vice President of Finance at FiberLight, and various leadership roles at Cox Communications. Mr. Sannikov, a resident of metro Atlanta, holds a Master of Business Administration in Finance and a Bachelor of Business Administration in Finance from Georgia State University.
"Mr. Sannikov's hire follows Luvu Brands strong financial performance in the first half of fiscal 2022. As a growth company with a dynamic Sales and Marketing team, we are excited for Alexander Sannikov to help drive the business in profitability and M&A opportunities, said Louis Friedman, Chairman and CEO, Luvu Brands, Inc. "Alexander's success and experience as a Finance Director and his outstanding leadership qualities will be an invaluable addition to the team."
Mr. Sannikov returns the sentiment, commenting, "I am extremely excited to join the Luvu Brands team. I believe the potential for growth and value creation is tremendous, given the smart and passionate people that I have already met in the Company, a strong brand portfolio, unique strengths, and a strong business model. I look forward to working with the team to execute the company's priorities, accelerate growth, and enhance value for shareholders and all stakeholders."
About Luvu Brands
Luvu Brands, Inc. designs, manufactures, and markets a portfolio of consumer lifestyle brands through the Company's websites, online mass merchants, and specialty retail stores worldwide. Our brands include Liberator®, an iconic product category for enhancing sensuality and intimacy; Avana®, inclined bed therapy products, assistive in relieving medical conditions associated with acid reflux, surgery recovery, and chronic pain; and Jaxx®, a diverse range of casual fashion daybeds, sofas, and beanbags. As a sustainability-obsessed Company we use repurposed polyurethane foam and fabrics wherever possible and vacuum compress all our foam-based products to reduce our carbon footprint. Headquartered in Atlanta, Georgia, the Company occupies a 140,000 square foot vertically-integrated manufacturing facility and employs over 200 people. The Company brand sites include: www.liberator.com, www.jaxxliving.com, www.avanacomfort.com, plus other global e-commerce sites. For more information about Luvu Brands, please visit www.luvubrands.com.
Company Contact:
Luvu Brands, Inc.
Alexander A. Sannikov
Chief Financial Officer
770-246-6426
Alexander.Sannikov@LuvuBrands.com
SOURCE: Luvu Brands, Inc.
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