BREA, Calif., June 18, 2024 (GLOBE NEWSWIRE) -- Reborn Coffee Inc. (Nasdaq: REBN), (“Reborn”, or the “Company”), a California-based retailer of specialty coffee, today announced its official launch on Amazon. This strategic move enhances the Company’s OMNI-channel approach, aiming to drive substantial revenue growth and capture a wider online customer base.
According to Grand View Research, the global coffee market is projected to reach $144.7 billion by 2025, with a significant portion driven by specialty coffee. In the United States alone, the online specialty coffee market is expected to grow at a CAGR of 8% from 2023 to 2025, reaching an estimated value of $5.5 billion by 2025.
By launching on Amazon, Reborn Coffee will access millions of potential customers, utilize advanced marketing tools to enhance brand presence and drive traffic, ensure prompt and reliable delivery through Fulfillment by Amazon (FBA), leverage data analytics to inform marketing strategies and product development, and enhance our OMNI-channel strategy by integrating our online and offline presence to provide a seamless customer experience.
“We are thrilled about our launch on Amazon, which marks a significant step in our OMNI-channel strategy,” said Jay Kim, CEO of Reborn Coffee. “Amazon’s vast reach and robust infrastructure will allow us to connect with more customers, deliver exceptional coffee experiences, and drive significant revenue growth. Our specialty coffee beans, known for their quality and ethical sourcing, will capture the discerning tastes of online customers. We are committed to providing high-quality coffee and look forward to expanding our footprint in the online market.”
Reborn Coffee aims to capture a substantial share of the online specialty coffee market, which is projected to grow significantly. By leveraging Amazon’s platform, the Company projects capturing 1% of the online specialty coffee market in 2024, translating to approximately $45 million in revenue. By 2025, Reborn aims to increase its market share to 1.5%, targeting approximately $82.5 million in revenue.
These projections are based on the Company’s comprehensive marketing strategies, the strength of its product offerings, and the expanding online coffee market. Reborn’s presence on Amazon is expected to significantly boost revenue by expanding its customer base and increasing sales volume.
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-K for the fiscal year 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
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/54886b8f-2183-4ab9-be16-5867dc30714b
