BREA, Calif., Dec. 01, 2023 (GLOBE NEWSWIRE) — Reborn Coffee, Inc. (NASDAQ: REBN) (“Reborn”, or the “Company”), a California-based retailer of specialty coffee, today announced the grand opening of a new flagship store under the newly incorporated Reborn Coffee Malaysia, at the Exchange TRX mall in Kuala Lumpur, Malaysia.
The Exchange TRX is a 17-acre integrated development set to become one of Asia’s leading lifestyle hubs, including world class shopping and dining, residential homes and office spaces. The flagship store at the Exchange TRX mall will be located adjacent to other global brands including Apple and Shake Shack. The location is being spearheaded by Barrie Nasim, Chief Executive Officer of Reborn Coffee Malaysia Sdn Bhd, incorporated in Malaysia.
A video from the event is available here.
“The Exchange TRX is a prime location for establishing the first Reborn-branded outlet in the rapidly growing Kuala Lumpur region,” said Barrie Nasim, Director of Reborn Coffee Malaysia. “This prestigious mall has a variety of international bands from shopping and dining to entertainment and will serve as launchpad for strategic licensing deals across various regions in Malaysia, Singapore and Indonesia. We look forward to bringing Kuala Lumpur consumers an unparalleled coffee experience that seamlessly fuses tradition with innovation.”
Jay Kim, Chief Executive Officer of Reborn, added, “Our global expansion initiatives and launch into the Southeast Asian market aligns with our brand ethos, and are anticipated to significantly augment revenue streams. Coupled with our sustainability goals, we will also be partnering with specialty coffee farms in Southeast Asia to spearhead our ESG agenda across their value chain and deliver exceptional quality through sustainable and ethical sourcing for our valued customers.
“Taken together with new locations in California, expansion into South Korea and the UAE, and our partnership with Hour Loop on Amazon, we are well-positioned to reach our expansion goals across a variety of channels that will enable sustained operational execution and year-over-year revenue growth,” 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 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
[email protected]
949-491-8235
Company Contact:
Reborn Coffee, Inc.
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/faf8b186-4bfa-4b26-b021-034d5bd40682
