BREA, Calif., Oct. 25, 2023 (GLOBE NEWSWIRE) -- Reborn Coffee, Inc. (NASDAQ: REBN) (“Reborn”, or the “Company”), a California-based retailer of specialty coffee, and Hour Loop, Inc. (NASDAQ: HOUR), a leading online retailer engaged in e-commerce, today announced an expanded partnership to offer new Reborn branded Organic Volcanic Tea through the Amazon Marketplace program.
Reborn’s new Organic Volcanic Tea is sourced from the Big Island of Hawaii where tea plants are grown on volcanic slopes within a rainforest 3,500 feet above sea level. The premium tea is low in caffeine, rich in antioxidants and other beneficial compounds, along with a strong pure flavor. Initial teas to be sold on Amazon Marketplace.
The partnership with Hour Loop extends the recently announced agreement to purchase, carry and handle Reborn coffee products as well as manage listings, logistics, marketing, inventory management, price monitoring and platform integration on Amazon Marketplace.
“Hour Loop's dominant position on Amazon and e-commerce expertise will be an excellent venue for the launch of our new line of Organic Volcanic Teas,” said Jay Kim, Chief Executive Officer of Reborn. “We have been impressed with the team at Hour Loop as we prepare to begin offering our coffee products on their platform and believe its sales experience and expansive reach on Amazon will help to rapidly scale sales to our retail chain coming 2024.
“Our tea and tea latte products continue to grow in popularity at retail locations as an alternative to coffee products for health consciousness consumers. We are excited to add to our various organic blends from Rishi Tea with our new Hawaiian Organic Volcanic Tea, which has a distinctive flavor and quality derived from the volcanic soil in which the tea plants grow,” concluded Kim.
Sam Lai, CEO of Hour Loop, added, “Our partnership with Reborn will leverage its unique coffee and tea products with our sales experience to ensure its Amazon debut is a seamless experience for customers. We look forward to scaling sales of all Reborn’s exceptional products on our platform and offering an optimized e-commerce solution.”
About Hour Loop, Inc.
Hour Loop (NASDAQ: HOUR), is an online retailer engaged in e-commerce retailing in the U.S. market. It has operated as a third-party seller on www.amazon.com and has sold merchandise on its website at www.hourloop.com since 2013. Hour Loop further expanded its operations to other marketplaces such as Walmart, eBay, and Etsy. To date, Hour Loop has generated practically all its revenue as a third-party seller on www.amazon.com and only a negligible amount of revenue from its own website and other marketplaces. Hour Loop manages more than 100,000 stock-keeping units (“SKUs”). Product categories include home/garden décor, toys, kitchenware, apparel, and electronics. Hour Loop’s primary strategy is to bring most of its vendors’ product selections to the customers. It has advanced software that assists Hour Loop in identifying product gaps so it can keep such products in stock year-round including the entirety of the last quarter (holiday season) of the calendar year. In upcoming years, Hour Loop plans to expand its business rapidly by increasing the number of business managers, vendors, and SKUs. For more information visit www.hourloop.com.
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 and Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our recent filings with the Securities and Exchange Commission (“SEC”) including our Form 10-Q for the second quarter of 2023, 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 continue as a going concern as indicated in an explanatory paragraph in the Company’s independent registered public accounting firm’s audit report as a result of recurring net losses, among other things, 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 Tyson
Executive Vice President
MZ North America
REBN@mzgroup.us
949-491-8235
Company Contact:
Reborn Coffee, Inc.
ir@reborncoffee.com
