New Company-Owned Retail Locations to Bring Total Global Count to 14BREA, Calif., Jan. 05, 2023 (GLOBE NEWSWIRE) -- 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 URL. 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 URL.
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 EMAIL 949-491-8235