Reborn Coffee Closes Master License Agreement for UAE
27 Juni 2024 - 2:31PM
Reborn Coffee Inc. (Nasdaq: REBN), ("Reborn", or the "Company"), a
specialty coffee retailer based in California, announced today a
master licensing deal that will facilitate Reborn Coffee's dynamic
entry into the vibrant UAE market, with its first flagship location
set to open in Dubai, UAE.
This partnership between Reborn Coffee and
Reborn UAE, led by CEO Mahmood Arjomand, marks a significant step
in expanding Reborn Coffee's footprint beyond its current
boundaries. Under this licensing agreement, Reborn Coffee Licensor
and Reborn UAE Licensee will collaborate to establish Reborn Coffee
outlets, a distribution center for the Middle East, and roasting
and warehouse facilities. The aim is to establish flagships store
within one year, with Jumeirah, Dubai, as the first location.
Additionally, the plan includes opening 20 more stores across the
UAE to solidify Reborn Coffee's presence in the region.
Reborn UAE brings a wealth of local knowledge
and expertise to this collaboration, providing an ideal foundation
for Reborn Coffee's expansion efforts. This partnership aims to
introduce Reborn Coffee's premium products to a broader audience
and contribute to the region's thriving coffee culture. Reborn
Coffee will bring specialty premium coffee technology to the Middle
East, catering to the region's demand for high-quality coffee and
the latest trends.
"We are truly honored to join forces with Reborn
UAE in Dubai," said Jay Kim, CEO of Reborn Coffee. "Together, we
aim to elevate the coffee experience in the UAE by delivering
Reborn Coffee's exceptional quality, innovation, and
sustainability.”
As part of this strategic alliance, Reborn
Coffee and Reborn UAE are committed to fostering sustainable growth
and ethical business practices in the UAE's coffee industry. The
collaboration will emphasize responsible sourcing of coffee beans
and environmentally friendly roasting processes, aligning with
global sustainability trends.
The coffee culture in the UAE is rapidly
evolving, with a growing appreciation for specialty coffee. The
region's new coffee trend focuses on unique brewing techniques and
high-quality beans, aligning perfectly with Reborn Coffee's
offerings. This partnership represents a significant occasion for
Reborn Coffee and Reborn UAE and a significant milestone in the
UAE's coffee scene. As both parties embark on this exciting
journey, they look forward to serving unique coffee experiences and
contributing to the region's thriving café culture.
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 first
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 TysonExecutive
Vice PresidentMZ North AmericaREBN@mzgroup.us
949-491-8235
Company Contact:Reborn Coffee,
Inc.ir@reborncoffee.com
Reborn Coffee (NASDAQ:REBN)
Historical Stock Chart
Von Okt 2024 bis Nov 2024
Reborn Coffee (NASDAQ:REBN)
Historical Stock Chart
Von Nov 2023 bis Nov 2024