Reborn Coffee’s Bbang Ssaem Bakery F&B Forges Major Distribution Agreement with Leading Korean Coffee Chain
Reborn Coffee (NASDAQ: REBN) has announced a major distribution agreement through its South Korean subsidiary, Bbang Ssaem Bakery F&B, to supply preservative-free baked goods to approximately 8,000 stores of a major Korean coffee chain.
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Rhea-AI Summary
Reborn Coffee (NASDAQ: REBN) has announced a major distribution agreement through its South Korean subsidiary, Bbang Ssaem Bakery F&B, to supply preservative-free baked goods to approximately 8,000 stores of a major Korean coffee chain. To meet nationwide demand, the company has expanded production capacity with a new facility, converted from a former Tom N Toms bakery site. This strategic partnership aims to establish a significant revenue stream and strengthen Reborn's position in South Korea's coffee and bakery market.
Positive
- Secured distribution agreement to supply baked goods to 8,000 stores in South Korea
- Expanded production capacity with new facility acquisition
- Created new revenue stream through large-scale distribution partnership
Negative
- None.
Details
News Market Reaction – REBN
The recorded move for REBN in the trading session of this news was -18.88%.
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Reborn Coffee Expands its Presence in South Korea Through an 8,000 Store Bakery Distribution Partnership, Emphasizing Quality and Preservative-free Offerings
BREA, Calif., Nov. 13, 2024 (GLOBE NEWSWIRE) -- Reborn Coffee, Inc. (NASDAQ: REBN), a premier specialty coffee retailer, today announced a landmark distribution agreement through majority-owned its South Korean subsidiary, Bbang Ssaem Bakery F&B. This strategic partnership will bring Reborn’s preservative-free, signature baked goods to approximately 8,000 stores of a major coffee chain across South Korea, significantly enhancing the company’s revenue and solidifying its position in the country’s dynamic coffee and bakery market.
To meet the substantial nationwide demand, Reborn Coffee has expanded its production capacity through Bbang Ssaem Bakery F&B. This expansion includes a new production facility, repurposed from the former Tom N Toms bakery site, designed to enable efficient, high-volume output while maintaining Reborn’s commitment to quality and freshness. This step strengthens the supply chain and ensures the consistent delivery of premium, artisanal baked goods that elevate the consumer experience.
“This distribution agreement is a pivotal moment for Reborn Coffee, adding a meaningful new revenue stream to our business,” said Jay Kim, CEO of Reborn Coffee. “Scaling our preservative-free, artisanal bakery products responds to the strong demand in South Korea for premium, naturally crafted offerings. Through this collaboration with Bbang Ssaem, we can deliver Reborn Signature baked goods at scale, significantly increasing our market presence and revenue potential.”
This partnership underscores Reborn Coffee’s commitment to quality, sustainability, and strategic international growth. As Reborn Coffee continues to expand its global footprint, this collaboration with Bbang Ssaem is a crucial step toward establishing a lasting presence and revenue base in Asia.
About Reborn Coffee
Reborn Coffee, Inc. (NASDAQ: REBN) focuses on delivering high-quality, specialty-roasted coffee at retail locations, kiosks, and cafes. Committed to innovation and excellence, Reborn Coffee elevates the coffee experience through advanced technology and premium service, while honoring traditional brewing techniques. The company stands out through unique processes, including the meticulous sourcing, washing, roasting, and brewing of coffee beans with a balance of precision and craftsmanship. 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
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