BREA, Calif., Oct. 10, 2023 (GLOBE NEWSWIRE) -- Reborn Coffee, Inc. (NASDAQ: REBN) (“Reborn”, or the “Company”), a California-based retailer of specialty coffee, today announced a strategic partnership with Hour Loop, Inc., a leading online retailer engaged in e-commerce, to offer the Company’s high-quality coffee products on Amazon through the Amazon Marketplace program.
Hour Loop is a leading online retailer engaged in e-commerce operating in the U.S. market, operating as a third-party seller on multiple leading e-commerce platforms and is one of the top 5 Amazon resellers. Hour Loop buys products and resells them on Amazon where hundreds of millions of customers shop each month.
Under the partnership agreement, Hour Loop will purchase, carry and handle Reborn coffee products as well as manage listings, logistics, marketing, inventory management, price monitoring and platform integration on Amazon Marketplace. Amazon Marketplace is an e-commerce platform owned and operated by Amazon that enables third-party sellers to sell products directly to consumers on a fixed-price online marketplace alongside Amazon's regular offerings. Initial Reborn products will include whole beans, pour over coffee, cold brew, cold brew ice cream etc.
“This collaboration with Hour Loop will rapidly enable coffee enthusiasts across the US to conveniently purchase Reborn Coffee’s exceptional products on Amazon via a trusted provider,” said Jay Kim, Chief Executive Officer of Reborn. “Hour Loop has a strong reputation and expansive reach on Amazon, with over 22,000 100% positive ratings. Utilizing Hour Loop’s platform enables us to utilize its world-class proprietary algorithms to help us scale and bring more brand awareness to our products on Amazon’s competitive marketplace, as well as manage selling and distribution to ensure a seamless purchase experience and delivery of our coffee products.
“Partnering with Hour Loop enables us to quickly extend our reach beyond our retail locations and build ecommerce revenue without additional investment on the world’s largest online platform. In addition, we continue to focus on expanding B2B marketing to wholesale clubs and other major outlets and growing our website sales with additional ecommerce marketing. We look forward to working with the Hour Loop team to position our exceptional coffee products on Amazon,” concluded Kim.
About Hour Loop, Inc.
Hour Loop 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 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 Tyson
Executive Vice President
MZ North America
REBN@mzgroup.us
949-491-8235
Company Contact:
Reborn Coffee, Inc.
ir@reborncoffee.com
