Reborn Coffee Adds Retail Locations in California and Korea
January 05 2023 - 8:05AM
Reborn Coffee, Inc. (NASDAQ: REBN) (“Reborn”, or the “Company”), a
California-based retailer of specialty coffee
,
today announced plans to open new company-owned retail locations in
Southern California and Korea, which, once opened, will bring its
total global footprint to 14 stores.
Reborn's new store in Pasadena will be located
in the area formerly known as the Playhouse District, home to the
renowned Pasadena Playhouse along with museums, galleries,
eateries, and independent shops. The area is surrounded by the
Fuller Theological Seminary, Pasadena City College and CalTech
University that serve a combined 30,000+ students, faculty and
staff. A second new Southern California store is located in Irvine,
a city with over 100 global corporations, diverse and multilingual
communities, and leading universities that has become an economic
powerhouse in the region. The Irvine location will have a full
kitchen to serve healthy and lights breakfasts, as well as an
outdoor patio for customers.
Reborn’s new location in Korea will feature a
specialty coffee shop that will highlight the 4th wave concept and
a roasting Research and Development facility as part of its global
expansion plan. The coffee shop and roasting R&D facility will
have a solid customer base and located in a prime site in Daejeon,
South Korea, Korea’s fifth-largest metropolis with a population of
over $1.5 million. The shop and the R&D facility have a total
space of over 2,000 square feet with a roaster and a coffee
extractor.
Reborn plans to feature the coffee shop and
facility as a flagship location for its Reborn concept with an
inviting store atmosphere designed for comfort and convenience and
utilize the location as a headquarters for its franchise program in
Korea. The Company expects to increase current sales through
strategic marketing campaigns and through direct support from its
US operations. In-house manufacturing of Reborn macaroons and
cookies will be launched to appeal to local customers and expand
product offerings.
The Company has also registered an information
disclosure statement with the Korea Fair Trade Commission (KFTC) to
launch a franchising program in the country. With a franchise
registration, Reborn is expected to expand with a number of outlets
in metropolitan areas throughout South Korea.
“We continue to expand our retail footprint at
strategically positioned locations to serve our high quality,
specialty-roasted coffee,” said Jay Kim, Chief Executive Officer of
Reborn. “The surrounding area of each new location has unique
characteristics including cultural attractions, high foot and
vehicle traffic, and customer demographics we believe will be
attracted to our innovative coffee products and techniques.
Students especially are attracted to on-the-go and premium options,
whether on tap or in ready-to-drink ‘RTD’ options such as cans and
bottles. These new locations will feature our distinctive patio,
contemporary design, and inviting atmosphere for socialization,
study, and work.
“Looking ahead, we continue to seek out
differentiated and prime locations to conduct due diligence and
build on our pipeline of new company-owned locations. We are
aggressively moving forward on strategically expanding our
footprint in existing and new markets in California, the U.S. and
globally, and developing our franchise opportunity. I look forward
to sharing our growth plans in the months ahead as we strive to
create sustainable, long-term value for our shareholders,”
concluded Kim.
About Reborn Coffee
Reborn Coffee, Inc. (NASDAQ: REBN) is focused on
serving high quality, specialty-roasted coffee at retail locations,
kiosks, and cafes. Reborn is an innovative company that strives for
constant improvement in the coffee experience through exploration
of new technology and premier service, guided by traditional
brewing techniques. Reborn believes they differentiate themselves
from other coffee roasters through innovative techniques, including
sourcing, washing, roasting, and brewing their coffee beans with a
balance of precision and craft. For more information, please visit
www.reborncoffee.com.
Forward-Looking Statements
All statements in this release that are not
based on historical fact are “forward-looking statements.” While
management has based any forward-looking statements included in
this release on its current expectations, the information on which
such expectations were based may change. Forward-looking statements
involve inherent risks and uncertainties which could cause actual
results to differ materially from those in the forward-looking
statements, as a result of various factors including those risks
and uncertainties described in the Risk Factors section of our
recently filed Registration Statement on Form S-1, as amended, and
in the Management’s Discussion and Analysis of Financial Condition
and Results of Operations section of our recently filed Quarterly
Report on Form 10-Q, which can be found on the SEC’s website at
www.sec.gov. Such risks, uncertainties, and other factors include,
but are not limited to, the Company’s ability to successfully open
the additional locations described herein as planned or at all, the
Company’s ability to expand its business both within and outside of
California (including as it relates to increasing sales and growing
Average Unit Volumes at our existing stores), the degree of
customer loyalty to our stores and products, the impact of COVID-19
on consumer traffic and costs, the fluctuation of economic
conditions, competition and inflation. We urge you to consider
those risks and uncertainties in evaluating our forward-looking
statements. We caution readers not to place undue reliance upon any
such forward-looking statements, which speak only as of the date
made. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
Contacts
Investor Relations Contact:Chris TysonExecutive
Vice PresidentMZ North AmericaREBN@mzgroup.us 949-491-8235
Company Contact:Reborn Coffee,
Inc.ir@reborncoffee.com
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